The median age of the American homeland is 38 years. Add to this the rising price of new buildings over the past decade and the growing popularity of television programs with dramatic renovations. No wonder Americans spent an estimated $ 328 billion on home remodeling in 2019. During National Home Remodeling Month this May, we encourage homeowners to consider the benefits of remodeling.
The remodeling offers numerous improvements for homeowners looking to change their living environment without uprooting and relocating their families. Home improvement can create more space for a growing family or older parents, improve energy efficiency, and increase the resale value of your home.
When considering a remodel, you should be aware of projects that will add utility and value to the home and improve life. Housing market data shows that small, smart remodeling can reward homeowners with better ROI and help with upgrading and customizing a home.
Review these top five remodeling projects and plan for remodeling during National Home Remodeling Month.
1. Remodel the kitchen
A small kitchen remodel can improve the look and utility of the space without costing a bundle, and achieve a 75 percent return on investment. Consider swapping out backsplashes, cabinet fronts, countertops, and floors. Installing low-flow faucets and energy-efficient equipment can also reduce water and energy costs in a high-traffic space.
2. Remodel the bathroom
The amortization when renovating a bathroom can reach 65 percent with new fittings, tiles, toilets, vanities and lighting. Low flow toilets use less water and can lower your monthly water bill.
3. Remodeling the whole house
Repairs and replacements of old components as well as the desire for improved amenities were named as the main reasons for customers to hire a remodel. Assess the use of the entire home to see if it meets your needs. Homeowners use space for their families and make more efficient use of their home’s space and equity, rather than moving to a new home and mortgage.
4. Space expansions
Room extensions can be added for a variety of reasons – including changing the number of people living in the home, living with multiple generations, wanting or needing more space, or wanting to add value to the home, room extensions have become increasingly popular in the past five years.
5. Replace windows and doors
Updating windows can also bring back a solid chunk of the investment (73 percent for wood frames and 71 percent for vinyl). New, energy-efficient doors and windows also help reduce energy losses from the house and lower heating and cooling costs.
Smart remodeling projects can make your home more comfortable for your lifestyle.
Further information on the conversion can be found at www.ironsbc.com