Home renovation and design projects are essential for maintaining the value of your home. Whether you’re planning a colonial home renovation or working with an environmental architect who specializes in sustainable design, remodeling your home can help to maintain as well as increase its value.
For example, not only is old and worn siding unsightly and non-functional, it can contribute to a loss of up to 10% of a home’s value. Being the rooms most frequently used, bathroom and kitchens remodel are the most requested renovations, with bathroom remodels boasting a 63.6% return on investment (ROI).
While winter may not seem like the ideal time to plan a home renovation and design project, what better way to stave off cabin fever than to plan the home remodeling process? Here are three important things to keep in mind when doing so.
Cost
How much can you comfortably and realistically afford to put toward a home renovation and design project? Keep in mind that time is money; the more time and labor spent on a renovation project, the higher the cost. Even seemingly simple remodels can become costly due to unforeseen problems. For example, while older homes — think Victorian era — are full of charm and character, their electrical wiring and plumbing are often outdated, which complicate routine renovation projects.
Desired outcome
What are your design goals? Identifying the aesthetic or look and feel of your home renovation project will help you create a budget. Also, this may also help determine what kind of contractor or architect you’d like to work with, as they may specialize in a specific area of home improvement. If you’re short on inspiration, there are a variety of home renovation design ideas available online and on social media platforms.
Alternatives
While some work is best left to the professionals, minor home renovations can be done by homeowners who have a knack for repairs. There are a number of online tutorials that give step by step instructions for tasks such as replacing a faucet or lighting fixture. Also, instead of a whole home renovation, painting a room and changing its furnishings can yield similar results. This is especially helpful if you can only afford to do one room at a time but desire a fresh, new look throughout your home.