Home renovations are a great way to make your home more comfortable, functional and stylish. And if you’re a homeowner who’s been thinking about making some changes, now is the time.
According to the study released at the Joint Center for Housing Studies of Harvard University, homeowners are expected to spend $430 billion on home repair and improvement projects by the second half of 2022.
The massive figure is being driven by a number of factors, including the desire for a better quality of life and the need to increase property value. Moreover, from these numbers, it’s clear that home renovation is on the rise. But how do you make sure that your next project counts? It’s all about planning ahead. Here are our top tips for making sure your next home renovation project will be a success:
Create a Budget and Stick To It
Do you have a home renovation project on the horizon? If so, then you’re probably already thinking about how to make it count.
A big part of that is creating a budget and sticking to it. In fact, all generations are getting in on the action. The 2021 Homebuyer Insights Report conducted by Sparks Research on behalf of Bank of America, the American Homeownership Survey from the National Association of Realtors found that 65% of younger homeowners aged between 18 years to 43 years and 22% of older homeowners aged between 57 to 75 years planned to renovate their homes in 2021.
Today, many young people live in condos due to the many benefits they offer. For example, condos are typically located in desirable areas with easy access to transportation and other amenities like restaurants and shopping centers.
In addition, condos are also typically less expensive than single-family homes, which makes them an affordable option for young people who want a place of their own without breaking the bank.
In fact, according to the 2022 Homeowner Satisfaction Survey, it was found that 89% of people rate community association living experience as very good. Hence, if you’re a young person looking to invest in your first home improvement project, condo renovation can be a great way to get started on making your home feel like yours.
Groom the Outside for a Better Aesthetic Appeal
A house is more than just four walls and a roof. The aesthetic appeal of your property is crucial to the overall value of your home, so take care to improve it whenever you renovate. This can include anything from a new paint job to a fresh coat of grass seed or mulch. And while these changes may not seem like much, they can make a big difference in how people perceive your home.
A growing number of Americans are grooming their outdoor space during home renovation, with roughly 67% of homeowners saying they will spend more time on outdoor home improvement projects in 2022 as compared to 2021, as found in Axiom’s 2022 Home Improvement Outlook Survey.
The exterior of your home can make or break its aesthetic appeal. If you want to make your next home renovation project count, then it is important that you groom your home’s exterior so that it matches up with your interior decorating choices. In addition to looking better, an improved exterior can make your house more attractive to potential buyers and help it sell faster.
Look For Energy-Efficient Materials and Products
When it comes to making your next home renovation project count, one of the best things you can do is look for energy-efficient materials and products.
In fact, energy efficiency is one of the top priorities for people looking to renovate their homes. Nearly 48% of young people planned home renovations in order to have energy-efficient appliances, according to the 2021 Homebuyer Insights Report.
The reason why this is so important? Because it’s not just about making your home more comfortable, it’s about saving money on your utility bills and helping the environment at the same time.
For example, if you’re replacing old windows with newer ones that are more efficient, you’ll see an immediate reduction in your heating and cooling costs. And if you’re replacing old appliances with new ones that use less electricity, then you’ll also be reducing your carbon footprint while saving money at the same time.
Energy efficiency is important because it reduces the amount of money you spend on electricity bills every year. You can also invest in solar panels that will not only help reduce your monthly utility bill but also lower your carbon footprint.
Bathroom Renovation for Higher Relaxation
For many people, the bathroom is the place where they relax after a long day at work. It’s a place where they can unwind and enjoy a nice bath or a hot shower. But if your bathroom isn’t up to par, then you might be missing out on the relaxation that comes with taking care of yourself in your own home.
Homeowners do not renovate their bathrooms because they have to but because they want to. In 2021, 33% of homeowners remodeled their master bathroom because they disliked the old bathroom, as revealed by Statista.
If you’re ready to make your bathroom feel more like home, consider these tips for renovating your master bathroom:
Update the floors. New tile or laminate flooring can be installed over existing floors, and it’s an easy way to add style and personality to any room in your home.
Replace outdated fixtures with modern ones. If you have old bathtub faucets or showerheads, consider replacing them with new fixtures that are more in line with current trends and styles. This will help give your bathroom a fresh look while saving money on down the road plumbing repairs.
Upgrade lighting fixtures for a mood boost. Lighting can make all the difference when it comes to creating a relaxing atmosphere in any space. When you upgrade lighting fixtures in the bathroom, it will improve functionality and add style.
Focus on the Kitchen
Your kitchen is the heart of your home, where you cook, eat and spend time with your family. Many homeowners are looking to remodel their kitchens when it comes to home renovations.
In fact, according to a recent survey conducted by Statista, 29% of Americans were willing to remodel their kitchen because of the poor condition of their old kitchen. Kitchens are often one of the most common places to renovate a home. Here are some of the tips to help you get started:
Kitchen renovations are less expensive than other projects because they don’t require as much structural work. This means that you’re able to get more bang for your buck when you’re looking at budgeting for renovations.
Kitchens are essential spaces that need updating over time. This is because they’ve been damaged by water damage or simply worn out over time due to wear and tear on the materials used in construction.
Kitchens are often the first place people look when they want to make changes around their home.
These Tips Will Help You Make Your Next Home Renovation Project a Success
When it comes to home renovation, you want to make sure that you’re getting the most out of your project. That’s why we’ve gathered together a list of the top ways to count your next home renovation project.
It’s important to plan ahead and get everything ready before you start the renovation because otherwise, you’ll be stressed out more than you need to be.