You’ve officially purchased your own home or maybe you’ve been living there for a few years already now. Congrats! Homeownership can be a fun and exciting time. However, you’re looking around your house and you’re not loving it. Is it time for some renovations? Here are some tips for how to know when it’s time for renovations and which renovations you should do.
If you just bought your house, it’s important to consider a few things prior to renovating. For instance, how did the sale go? For example, around 7% of all buyers choose to purchase a home directly from the owner, meanwhile, the rest typically use a real estate agent. How you bought your home is important because it can indicate how much money you’ll have available for renovations.
If you’ve already been living in your home for a while, this won’t be as important for you. However, if you’re a new homeowner, it’s likely the real estate agent was able to help you get a deal on the home, allowing for some extra money to go towards renovations.
You now know how much money you have to work with for renovations, so now it’s time for room checks. This simply means going room by room in your house and seeing how you feel in each room. Does this room give you the comfy vibe you want? Or does it give off a more energizing mood? Perhaps the room makes you feel downright sluggish, drab, and bored. In that case, this will be a room you want to renovate. 28% of property owners indicate that renovating is a more affordable option than buying a property that would be more aligned with their needs. So that’s exactly what you will do!
Your home should make you feel your best and each room should be catered towards your own needs. For example, your kitchen will want to be warm and inviting for mealtime, but also bright and energizing for those early mornings. Your bathrooms should be calming and relaxing, offering a comforting and refreshing escape, and so on. This type of renovation could be as simple as changing up the paint color for the room.
Once you’ve established where you want to make changes, you’ll need to budget it out. What can you afford? What will improve the value of your property? All of these questions will need to be considered before you make any moves towards renovating.
The best way to decide what you can renovate is by seeing where you can increase the value of your home. For example, if the bathrooms in your house failed the room checks, this works out well for you. Minor bathroom renovations yield a consistent return value. If you can make money off your renovations while also creating a more enjoyable living space for yourself, your home renovations will be well worth it.
Additionally, you’ll want to consider the safety of your home. This is especially true if you have children. For example, not only does outdoor lighting provide return value for your home, but it also cuts crime by 39% at night. This could be the difference between your car or garage being broken into or not. Renovations like this won’t be spotted in your room checks, but are important to consider before deciding on your budget.
When it comes to deciding when and where to renovate your home, the best way to decide is by weighing out the value each renovation holds for you. For example, one may not care about the mood each room emulates, but for another, this could be what makes or breaks a house for them. One may be entirely financially motivated and only do renovations that absolutely need to be done to maintain the integrity of the home, while others may enjoy spending more on items deemed less necessary. Renovations are all about making your home your own. Decide what works best for you, both aesthetically and financially, and then go from there.