Factors to Consider When Renovating Your Home

Remodeling a home can seem like a daunting task. There is the question about which part of the house to focus on–or thinking of trying to remodel the whole house. There are the factors of financial means and time, all of which can seem like a mountain too high to climb in this modern age when both are at a premium.

Fortunately, you’re not alone. In a survey during 2015, 38% of respondents said time was the biggest factor in home renovation projects, the top response. Financial means was just behind it at 37%. Remodeling tends to come with particular motivations. 49% said they were remodeling to stay in their current home, while 31% want to remain in their current neighborhood.

This is in line with other surveys and statistics. 26% of renovations are driven by current home purchases, with one in ten renovators having purchased a home in 2015.

But, as with all major projects, there are numerous factors to consider after making the decision to renovate. For instance:

• Do you prefer carpet, hardwood, or tile for your flooring?
• Are you looking to install an updated bathing area, such as a glass enclosure?
• How confident are you in your skill set to handle more demanding or complex tasks?

This last part is particularly important in renovations or redesign. There is little more frustrating than standing back looking at a project that requires skill and realizing the outcome is less than optimal and will require a full re-do, wasting time and hard earned money.

It is this reason that many who are considering renovations will turn to a contractor to handle the more complex work. There are specialists within the renovation and construction industry–such as brick masons or roofers–that can achieve what you want to achieve, with no time spent on your part.

When you’re thinking about renovating your home, consider the following statistics:

• 54% of future home buyers are willing to pay more for a home with hardwood floors.
• Adding a new bathroom can raise your home’s value by up to 75% of the project cost.

It is remarkable that according to a survey 35% of respondents say that they are planning to renovate their entire home. But it certainly adds value and sellers are looking to cash in, particularly with curb appeal. 13% of renovators focus on exterior projects for that reason.

There are some final costs to consider when pursuing a renovation project. Tools are a cost that will mount up with each section. Make sure you’re using protective gear when using power tools like power saws or drills. Eye protection here is critical. Splinters can fly off sawed wood and hurt eyes if unprotected.

Get ready for hard labor. Constantly standing, stooping, and bending can test your body in ways that you might not anticipate if you’re in a predominantly sedentary job.

Whatever your motivation is, renovating a house can be an enjoyable, rewarding experience where the value is more than the finished product.