No matter the current state of your home, there may be areas where you feel it can be improved. Consequently, these improvements will help you build the value of your home while increasing your own comfort and satisfaction. If your home has gone over ten years without a remodel, you can’t go wrong with a little home improvement.

Remodeling is a great idea regardless of the housing market or the current economy because it is a solid investment in your asset that can both solve problems before they begin and keep you loving where you are.

Here’s what a home remodel can do for you…

1.   Cut your maintenance costs and save money in damages

The first and perhaps most essential benefit of an effective home remodel is the money it will save you in maintenance costs down the line. A remodel is the perfect opportunity to discover and correct problem areas of your home that you may have not even known about. While you’re tearing down a wall or tearing up a floor, you may find wear you wouldn’t have seen until it became a major issue, costing thousands of dollars more than a simple correction during the renovation process.

From plumbing and foundations to the roof, your home needs regular maintenance. Remodeling can be the perfect time to conduct that maintenance and upgrade elements of your home with durable, long-lasting fixes sure to save you money in the long run.

2.   Let you live your dreams

But preventative maintenance is only the beginning of what a good home remodel does. Perhaps the main reason you want to remodel in the first place is to transform your property into more of the home you always dreamed of living in. Maybe your dreams include a larger living area or a kitchen with an island or a million other fun and functional ideas that will bring you and your family comfort and joy. A remodel can make those dreams a reality, even if you feel limited in the space you have.

Adding on to a home can be a great way to increase functionality and home value, while rearranging the layout of the existing rooms can make your home feel bigger without the need for addition. Remodeling can include creative adjustments to existing homes that will make your home work for you and turn your dreams into reality.

3.   Raise your resale value

Whether you are planning your remodel for you 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 of remodel investments, you want to focus on the kitchen and bathrooms. As the centers of much home activity, updating these rooms net you the most money back. Install durable, beautiful features and watch your asking price climb when it comes time to sell, or sit back and enjoy cooking in a neat, modern kitchen with new fixtures and flooring.

4.   Reduce energy costs

Home remodeling can also end up saving or netting you money through efficient reductions in energy bills. Through simple upgrades to elements of your home like windows, doors, and insulation, you can save money every month. These benefits will pay off no matter what the housing market is like and could be invaluable to you heading into a downturn.

Also look to home heating and cooling features like your furnace and water heat. Improve and upgrade where you can to keep your home functioning comfortably with low energy output. Add insulation in areas of the home like the attic, and see the reduction in your monthly energy bills on top of a boosted property value.  Plus, energy-efficient upgrades can be written off in your taxes as a tax credit, possibly paying for themselves.

5.   Reinvigorate your home experience

Last but not least, an effective remodel can breathe new life into your daily home activities. A new, spacious kitchen can give you the tools and motivation to cook more and hold dinner parties, while an added guest bedroom—or perhaps a repurposed one—can change who visits your home and the memories you make with them.

These upgrades can help you save money when times are tight, encouraging you to stay in and eat at home because you have the space and environment that makes cooking a breeze. Your guests might save money on hotel accommodations, and you’ll enjoy showing off all your beautiful upgrades to your home.

Don’t hesitate if you’re thinking of remodeling

No matter the state of the housing market, the cost and effort of a remodel could very well be worth it if it’s something you’ve had in mind for a long time. Remodeling almost always gives you a significant boost to 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.

For more information on real estate investing and property management, contact 208.properties today.