October 09, 2023
July 20, 2022
Thinking of Remodeling? Why it’s a good investment in any economy
Real estate investing is seen as a conservative investment and may be seen as even more of a wise purchase when stocks are plunging. If nationwide employment remains steady, interest rates stay affordable, and people see real estate as a smart investment, buyers will keep the real estate market sound.
Protect your investment
No matter when you purchased your home, there may be areas you’d like to improve. These improvements will help you build the value of your home while increasing your comfort and enjoyment. And if you haven’t done any remodeling in the past 10 years, there are plenty of upgrades that will not only increase your home value but save energy and ease maintenance.
Remodeling is a great idea regardless of the housing market or the current economy because it is a solid investment in your real estate asset.
Reasons to consider a remodel now
A home remodel is the perfect opportunity to discover and correct energy-wasting features. Striking Remodels by Bell offers great ideas for saving you money each month plus, make your home more attractive to sell. Energy-efficient appliances can save between 10% to 50% in energy costs. Low flow plumbing fixtures can save up to 30% on indoor water use. And switching your lighting to LED lights will allow you to use up to 90% less energy while lasting up to 25 times longer than traditional incandescent bulbs.
Easy care finish materials can save you time while also protecting your investment. Consider materials that best suit your lifestyle. Quartz countertops are nonporous and resistant to stains and scratches, requiring only a wipe-down with soap and water. Luxury Vinyl Tile (LVT) which mimics the look of hardwood, stone, and ceramic flooring is durable, cost-effective, and easy to clean. Ceramic tile is available in some amazing sizes, colors, patterns, and textures (including slip resistance) to fit any design style and is great in kitchen and bath areas. Cabinets that reach the ceiling eliminate dusting and cleaning above them. And tile walls in kitchens and baths will require less maintenance than paint. Low-maintenance features will not only be attractive to you, as the homeowner but to a future buyer as well.
Improve your space
Perhaps the main reason you want to remodel is to transform your home into a more workable space. Maybe your dreams include a kitchen with an island cooktop or a chef-inspired space. Maybe you are looking for a larger walk-in shower, or bathroom that allows for wheelchair access and safely aging in place. Remodeling a home can be a great way to increase functionality and home value. Remodeling can also include creative adjustments that will make your home work better for you and turn your dreams into reality.
Raise your resale value
Whether you are planning your remodel for yourself or a future buyer, home renovations are a great way to boost the value of your asset. No matter the economy you face, if you have the resources to invest in a remodel, it is sure to pay off should you need to resale or refinance. Plus, nothing helps a property sell quickly like a fresh remodel. For the biggest returns on remodel investments, you’ll want to focus on the kitchen and bathrooms. Updating these rooms will net you the highest returns.
Create a fresh, new look
Finally, an effective remodel can breathe new life into your outdated home. In many cases, we’re either tired of our environment, our rooms have become completely outdated, or the spaces just don’t fit our personality. If your home hasn’t been renovated in years, you may have quite a few materials, finishes, and colors that are considered outdated, like sheet vinyl flooring, tile or laminate counters, oak cabinets, brass fixtures, and yes, popcorn ceilings.
Don’t hesitate to remodel
No matter the state of the housing market, the cost, and effort of a remodel bring a myriad of benefits. Remodeling almost always gives you a significant boost to the resale value if that’s your intention, while the added beauty and comfort make living in your old home a new and exciting experience. So go ahead, turn your home into your dream home.
Looking for financing? You don’t need to pay cash for your remodel project. Striking Remodels by Bell has financing options available for you.