Renovating your home can be a costly affair. It can be the best investment you ever made, but to do it well you need the right information. Having a basic understanding of home renovation can help you avoid making mistakes that could cost you financially or increase the amount of time needed to complete the project.
Below we will take a look at some of the things you may or may not want to consider when deciding to modernize your home.
The benefits of renovating
In the past, most people would choose to renovate their homes and make them more comfortable or enjoyable. Today, however, many people are renovating for a different reason – to increase the value of their homes.
Whether you’re planning on selling your home or staying in it forever, there are many benefits to renovating. Here are some reasons why you should consider renovating.
To increase your comfort or enjoyment of the home
One of the main reasons why people renovate is to improve their comfort and enjoyment of the home. This can include installing new appliances, updating bathrooms and kitchens, or adding a second story onto the house.
Not only will these renovations make your home more enjoyable, but they can also increase its resale value. For example, if your kitchen is outdated or uncomfortable but still has good bones then consider upgrading it with new cabinets and countertops as well as updating appliances like stoves and refrigerators.
You’ll not only improve the look but also increase functionality which will make your kitchen feel more modern and appealing to buyers when you eventually sell your home! Watara Homes, for example, is a renovation builder in Brisbane who specialises in projects on more of the luxurious side, this truly allows you to get enjoyment out of your home.
To fix safety issues
If there is something that needs fixing in your home then it makes sense to start renovating your property, this could be a small renovation or a big one. It all depends on what needs to be done and how much money you have available for the project.
You should always try to fix safety issues first as these are very important on every property but especially if you have children at home. You should also check out if there are any leaks in the roof or walls or any other structural problems like cracks in the wall which can cause water damage due to rainwater coming through them when it rains heavily outside.
To improve the home’s value
Renovating your home is a great way to increase its value and make it feel like a new home. However, it’s important to make sure that you’re doing this for the right reasons.
The main reason people renovate is to increase the value of their property. If you plan on selling your house in the next few years then this can be an excellent way to increase your return on investment (ROI). However, if you plan on staying in your house for many more years then it may not be worth the cost of the work.
If there are certain aspects of your house that have become dated then this is the perfect time to update them. If there is too much clutter in your house then this can cause problems when trying to sell it so if you want more space then now is the perfect time to do so.
To increase the efficiency of the home
First of all, how old is your home? If it’s older than 20 years old, chances are it doesn’t have the same insulation as newer homes do. This means that you’re more likely to leak heat and cool air – which could cost you money on your energy bills.
Make sure your windows are draught proofed, this means they won’t let in any unwanted drafts during the winter months (or even when it’s hot outside). This will mean that you don’t have to spend so much on heating and cooling your home. Making these changes to your property will not only add value to your home but will also mean your home is a lot more energy efficient.
What are the 3 types of renovation?
When considering renovating your home, the first question you need to ask yourself is “what do I want from this?”
The most common reasons for a renovation are:
To increase the value of your home.
To improve the layout, function and aesthetics of your home (aesthetic renovations).
To improve the energy efficiency of your home.
Basic Renovation
This type of renovation will normally add value to your property if it’s done well and at the right time. It includes things like adding new bathrooms or kitchens or replacing floor coverings.
Basic renovations can also include changes that may be required by council regulations, such as insulation requirements or safety upgrades such as handrails on stairs. These types of renovations are generally done by tradespeople who specialise in that area – eg builders and plumbers.
Cosmetic Renovation
Cosmetic renovations can make a big difference to how people perceive the value of your house and how much they might be willing to pay for it.
For example, painting all four walls white instead of two will make quite a difference for not much money in labour costs compared with repainting two walls and leaving two walls unchanged from their original colour! Another example might be replacing damaged wood panelling.
These changes can often be more expensive than basic ones but can add value to your property if done correctly.
Personal Renovation
Personal renovation is a renovation that improves specific areas of your home for personal reasons only and does not improve the overall value of your property or add any appeal to potential buyers looking at your home.
For example, if you install new carpet in every room of your house then this is a Personal Renovation because it does not add any value to potential buyers looking at your home but does make it more comfortable for you personally.
What is the best month to renovate a house?
The best month to renovate your house in March. The reasons for this are two-fold: firstly, March is a great time to renovate because it’s before the busy season kicks in, and secondly, it’s important because you don’t want to get caught up in summer renovations during the height of the season.
Is a property renovation right for you?
Renovating your home can be a rewarding experience. Whether you’re planning a DIY project or hiring a professional, it’s important to consider the timing of your renovation to ensure that your project goes as smoothly as possible. Making these considerations and starting early will help you avoid problems down the road.
