Why are homeowners renovating?
Homeowners are Renovating their homes as it is an exciting process, it can be a challenging one if you don’t map clearly the renovation goals you may want to reach within your BUDGET. No matter why you wish to renovate, you must consider that you will get a positive return on your investment.
My beef is with irresponsible home renovators, who exceed their budget hoping to significantly increase the value of their home, without consideration of the market. That’s ok if they can afford it…and does not end the relationship with your significant other! Sure, if you have the money in hand, and your finances are in order, and you want to live the big life, I’ll be the first person to tell you ‘go ahead build that stunning gourmet kitchen equipped with the most sophisticated gadgets’. But the problem is that most people cannot afford it, and are living beyond their means.
When you renovate your home, you must make informed decisions and prioritize on the kind of renovations that will increase the value and quality of your home. With today’s housing technology, you can increase the comfort of your home significantly by making it healthier and more energy efficient. This means better living for you and also helps to protect our environment by reducing greenhouse gasses and other pollutants.
- To upgrade features and improve your living space
- To make space more functional for end use
- To increase home value more than the cost of making the change
- To address changing lifestyle of family needs
- To improve organization or storage
Want to do more research?
- How to decide whether to renovate or sell your home by Jody Robbins
- Renovation Montreal | Pure Organic Design by Pure Organic design team – Montreal
- How to Renovate for Profit – Capital Direct by Capital Direct
- Intelligent Design & Construction | Home Renovation by Design Intelligent & construction – Montreal www.idnc.ca/
- Houzz – Home Design, Decorating and Remodeling Ideas … by Various authors of Houzz.com www.houzz.com
- How to Stay on Budget With a Home Renovation | Credit.com by Benjamin Fieldman
So the next time you’re thinking of renovating, think not only of improving your living space, but also of your leverage, that of making and investment that will increase the value of your home more than the cost of making the changes.
You would like to share, your horror stories, good stories or advise about the renovation decisions. We would love to exchange with you and our readers would enjoy reading your comments.
** We had a money pit article theme, what better time than to have used the classic, Tom Hanks/Shelley Long billboard ad of the movie “The Money Pit” as our post header. [source; mrzhack.wordpress.com]