Some homeowners face difficult decisions when trying to decide on a remodeling project. Others know exactly what they want and how to follow through.
American homeowners should consider what project to tackle first. While certain homeowners look to improve the exterior of their home or raise their curb appeal, others might want to finish a basement or add a plush outdoor living space to the backyard.
"In home design, there is an increased interest in individualization and creativity - true for both interior and exterior design," said Mike Loughery, director of corporate marketing communications for CertainTeed, a home outfitting company [1]. "We've found that homeowners want healthy, energy efficient homes that offer complete comfort and curb appeal, but don't always know the best way to start."
Many homeowners still need guidance when looking into renovation projects, according to a March 2015 Harris poll survey of 2,000 U.S. adults. However, a large majority placed an emphasis on the exterior of their home. Nearly 4 of 10 respondents said they'd look to boost their curb appeal, while 26 percent they wanted a strong return on their investments. Twenty-one percent stated they'd like to upgrade their outdoor living space.
Cook up a home investment
One room that tends to make or break a home sale is the kitchen. Americans spend a lot of time in the kitchen, whether making food or eating with their family. Paying special attention to that space and keeping it open and comfortable for prospective buyers can help a homeowner make some big bucks at the time of resale.
"Comfort is key now more than ever," Loughery said. "The growing boomer population has led to increased home renovations tied to aging in place. And it's not just our population that is aging — according to the Department of Housing and Urban Development, 41 percent of the nation's homes were built in 1969 or earlier. That's why we strive to supply sustainable, groundbreaking products that significantly impact long-term energy efficiency, comfort and indoor air quality."
Yet kitchen remodels can be quite expensive. A homeowner never knows if they will get a solid return on their investment if they dish out thousands of dollars into a new kitchen space. However, there are a few cheaper renovations that can pay dividends, like a fresh coat of paint.
Instead of tearing down walls and moving the kitchen sink, a fresh coat of paint can give a kitchen an entirely new look for a fraction of the price. The average cost to paint a kitchen will depend on the size of the room, but Investopedia estimates it will be somewhere between $350 and $600 [2].
Another kitchen renovation that can make the space look contemporary without breaking the bank is hanging new light fixtures. Not only will new fixtures improve the look of the kitchen, but in many cases, the new fixtures will provide better energy efficiency and save the homeowner money on electricity.
Energy-efficient renovations are in vogue
One of the most common remodeling goals for homeowners is improving energy efficiency, according to Deseret News [3]. Three of the best ways to save on energy bills and improve efficiency include making sure a home is airtight, increasing insulation and updating the windows and doors.
Replacing windows and exterior doors is a great way to improve energy efficiency because heat or cold air often escapes from outdated windows and doors. A new steel entry door offers the best home investment of any renovation project, often netting homeowners more than 100 percent of the cost at the time of resale, according to Remodeling Magazine [4].
Sources:
[1]. Remodeling by the Numbers: Smart Home Renovations that Increase Curb Appeal, Value and Comfort
[2]. Kitchen Remodeling Tips For A Smart Investment
[3]. Renovation Solutions: Three renovation projects to make a home more energy-efficient
[4]. Entry Door Replacement (steel)
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