Every year in the United States, homeowners spend more than
$400 billion
on renovations and repairs. If you see that your home is in need of an upgrade, you may be wondering if home renovations will actually be worth it.
In this blog post, we will focus on that point and highlight the best scenarios to remodel your home and the approach you should take. We will also highlight the steps you can take to renovate specific rooms to maximize your return on investment. Let’s get started.
Are Home Renovations Worth It?
Generally speaking, home renovations are always worth it. Improving the appearance, layout, and function of a space comes with a host of benefits. This is true both for homeowners who are planning to stay in their property for the long-term (at least five-plus years) and those who see it as an investment opportunity.
In the case of homeowners who do not have plans to sell their property, it’s recommended that they invest what they are able to afford for the upgrades they want to make. They may have to make choices about which rooms they focus on during a renovation if their budget is restricted.
On the other hand, homeowners who have plans in the near future to sell their property should take a different approach. Here, they should focus on getting the maximum return on their investment. It doesn’t make sense to spend thousands remodeling a property if the work isn’t going to translate into a higher selling price.
Renovating Specific Rooms
The kitchen is the beating heart of any home, so it makes sense for homeowners who don’t have plans to move to focus their remodeling work here, given how much time they spend in this room. A
countertop renovation
is one of the best upgrade projects a homeowner can opt for. Other rooms worth focusing on include the bathroom and the living room.
For those planning to sell, it’s important to focus on ROI (return on investment). One study on full kitchen renovations found that homeowners can recoup around
59% of the cost
. A new master suite, on the other hand, typically returns 50% of the cost.
There are certain renovation works that get back more money than a homeowner puts into the work. For example, new hardwood flooring returns 105% of the cost, and replacing the HVAC system recoups 85% of the cost.
If you are renovating with an eye to sell, it’s worth keeping the modern buyer in mind. Focus less on your own specific tastes and think about what buyers would like to see. Then, recreate that during your renovation work for the highest ROI. Upgrading things like the kitchen countertops into a neutral
granite countertop
is a great way to appeal to a large audience who is looking to purchase your home.
Home Remodeling: What You Need to Understand
The bottom line is that home renovations are a great option, both for homeowners who are happy in their homes and those who have plans to sell. The specific approach that a homeowner will take will depend on which category they fall into.
We recommend upgrading your home one room at a time, starting with the kitchen, as this room is a focal point of the home. Onslow offers a wide range of new kitchen countertop surfaces for you to upgrade your home whether you are looking for a luxurious, high-end look or a neutral, everyday countertop for the average home buyer.
If you are looking for the best granite and quartz countertops in Raleigh, NC, your premier choice is Onslow Stoneworks.
Contact our expert team today
and schedule your appointment. Your dream kitchen starts here!
