This is an important question home owners often face when they come to the realization that their house no longer meets their needs. Whether your family has grown, your in-laws are moving in or the layout of your house just doesn’t work for you any more, there are several ideas to consider.
For people who choose to stay in their current home and renovate, that’s just the first in a series of decisions they must make before the project is done. The right choices are the key to giving owners the home they want to live in while also capitalizing on resale value down the road.
When people renovate, they usually do it for themselves; they need changes that make them happy and suit their lifestyle. However, they have to consider how the renovations will impact resale value in the future. Even if they plan to stay in their home for a considerable amount of time, it pays in the long run to ensure the renovations will be desirable for years to come.
Smaller homes and high land prices are now driving home owners to make the most of every square inch of their property, both indoors and out. Lately, people who like to entertain are looking for a living space that opens up and extends from indoors to outdoors.
Also, while open-plan designs are nothing new, homeowners are currently more keen than ever about creating seamless living spaces. Most often the kitchen now serves as the central hub of a combined living and dining area.
Showers are also more desirable than bathtubs nowadays and homes with two or more bathrooms often only have one tub. Homeowners now like showers to be special, with bench seats, rain-shower heads and multiple body sprays to give a spa-like feel. Eliminating the tub is also a practical way to expand the space in a small bathroom without taking out walls.
In the kitchen, stainless steel appliances continue to be a popular look for the kitchen. Instead of one massive fridge, some homeowners are now asking for a standard size one that is supplemented by one or two drawer-style fridges. Two-drawer dishwashers and microwave ovens in drawers are also starting to show up on new home wish lists.
Energy-saving features are also prevalent in new and renovated homes. Environmental concerns and appreciation for saving money are driving interest in features like tankless hot water systems, geothermal energy and high-velocity forced-air systems.
It is no longer popular to hide a television in a piece of furniture with closed doors. Nowadays, high tech components like TVs, stereos and computers are fully integrated into the design of a home. Growing numbers of people are also willing to wire their house for surround sound.
Whatever your renovation project, consider your options and make detailed plans before starting the work. People often tend to rush into poor choices on layout and finish work because they just want projects to be done. If you spend time planning, renovations can actually progress quite quickly.
Furthermore, if you need to secure financing in order to fund your home renovation projects, give me a call. There are great rates available at the moment and I’d love to help you out.
7 Questions to Help You Decide if You Should Pursue a HELOC (Home Equity Line of Credit), Refinance or Second Mortgage
HELOC, Refinance or Second/Third Mortgages? Which one should you choose to go with? If you have decided to tap into the equity in your home, the three can seem to be interchangeable at times and for many consumers can be a difficult decision on which one to select. We...