Remodeling a home can seem like a huge endeavor. Between sticking to budgets and keeping up with design trends, remodeling can be overwhelming – so much so, you might just avoid remodeling all together. There are some huge benefits, though, enough to make you decide it’s worth the effort.
Why take on a remodeling project? And how do you choose the best style for you?
Reasons to remodel your home
While there are many reasons to remodel, one of the best is that it adds value. Whether you are living in your starter home or your forever home, adding equity is an important aspect of homeownership.
Just as styles change, so does what people expect from a home. Projects like remodeling a kitchen, opening the floor plan or updating a bathroom can all add value to your home. Small kitchen remodels (approximately $15,000) can return up to 93% of the initial cost.
If you plan to sell your home soon, simple remodeling projects are necessary to increase the perceived value of your home. Curb appeal is important to prospective buyers, so a fresh coat of paint, a new front door or a beautiful landscape can increase interest. Like kitchens, new siding offers a return of 92.8%.
Even if you don’t intend to sell soon, increasing your home’s curb appeal can boost your pride in your home with very little investment.
Though adding value and increasing curb appeal benefit your pocketbook, if you choose to sell, increasing your home’s energy efficiency can decrease monthly expenses, benefiting your financial situation quickly. Replacing windows and finding more energy-efficient options will lower your overall utility bills. Plus, if you intend to sell, energy-efficient windows offer a return of 80% on your investment.
Though finances can prevent major remodels, a home equity loan can tap into your home’s value so you can increase your overall enjoyment. Call First Centennial Mortgage to see how you can use your home’s equity.
Design trends in 2020
Once the decision to remodel is made, the hard work starts with design decisions. You don’t have to pay for a big-name designer to ensure your remodel has the most up-to-date trends.
An up-and-coming trend in home décor is natural luxury. Even if you’re not a fan of the 70s and 80s look, the circular shapes and luscious textures of velvet and dark woods can add comfort to any space. Also, natural elements like bamboo and grass can bring nature into your home.
Of course, cork and bamboo combined with the traditional elements of marble and wood combine sustainability with luxury, offering both peace of mind and comfort.
Bridging interior and exterior spaces with inside gardens and outside luxury adds cohesion while giving you the best of both worlds.
Though major remodels can offer the most return for your money, even a simple coat of paint can give your home a noticeable facelift. Pink and purple are emerging as popular color choices to enliven gray, which remains the neutral color of choice. Also, green and blue remain popular in furniture and color choices, while wallpaper is making an interesting return.
Though most homeowners think of major kitchen or basement projects when remodeling, simple upgrades like new paint or a new front door can enhance both the value of your home and your enjoyment of it. The key is to not be overwhelmed by style choices.
For answers to your questions about trends in real estate and homeownership, contact the experts at First Centennial Mortgage. We’d love to hear from you.