How to Choose Your Next Home Renovation
Many homeowners have a list of improvements they want to make but are unsure where to begin. When planning a home renovation, you should select a project that adds value and utility to your property. Read on for some pointers from Barkley Properties.
Increase Your Home's Value
When choosing a home renovation project, it's important to consider how your upgrades might affect the property's value. This is especially true if you plan to sell within the next few years. Some home renovations add enough value to cover the majority of their cost. For example, research shows that a homeowner can expect to recover 85% of the value of a new HVAC system on average.
On the other hand, Money Crashers notes that some upgrades add little value or could even decrease your home's selling price. Look for renovations that add broad appeal and improve the functionality of the house. You should also research online listings of properties in your area to get a sense of your house's value and the amenities commonly offered in your market.
Update Your Roof and Floors
Replacing crucial elements, such as roofing or flooring, can refresh a home. You may need to install a new roof if your current one is damaged, leaking, or more than 20 years old and out of warranty. The roofing materials you select depend on your home's style and the local climate. Examine other homes in your area and consult a professional roofer if you have questions.
When updating your flooring, identify the room's purpose and choose a material that is both attractive and practical. Hardwood and engineered wood flooring are versatile and classic. You can add warmth to a bedroom or living space with carpet. Finally, tile is a great choice for kitchens and bathrooms.
Whether it’s updating the roof or floors, or any of the following jobs, it may be time to bring in a professional contractor. Fortunately, you can keep tabs on the timing, progress and costs associated with the work as it’s completed with construction management software. Contractors like to use construction management software that features project management and time tracking, which means you can check in with them on how the project is progressing.
Energy-Efficiency and Ventilation
Making energy-efficient upgrades can help you reduce your carbon footprint and lower your utility bills. In addition, these improvements can make your home more comfortable and increase your property value. For example, you can install better insulation and seal air leaks in your home to protect inside areas from outdoor temperature extremes. Also, updating your windows and doors can prevent heat loss in the summer and winter.
HGTV points out that a new HVAC system can also improve energy efficiency while keeping your home comfortable and ventilated. Make sure you purchase the correct size unit for your home and contact a professional to assist in installation.
Design Your Dream Home Office
With more people working remotely, you should consider adding a home office to your property. You can design an office that energizes you and promotes productivity. For example, decorate with houseplants and leave your office windows unobstructed to increase natural light. Task lighting at your desk can also help you avoid eye strain during your work day.
You should invest in functional, ergonomic furniture that supports healthy posture. Arrange your furniture and equipment so that you have space to move around and relax. Storage solutions like filing cabinets let you contain clutter and stay organized. Additionally, fun design touches like reflective textures and bright pops of color help you stay focused.
Home renovations can refresh the appearance of your house, improve functionality and increase the selling price of your property. From building a new home office to replacing your HVAC system, you can take steps to make your house a better place to live and a more valuable property investment.
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Barkley Properties specializes in flipping homes and managing approximately 30 rental properties including residential, commercial, and vacation rental homes. Contact us today to learn more!