At Lonestar Design Build, we’re often asked our perspective on how renovating a home can positively affect the living and equity of a clients home. Below are some key points as homeowners you should think about when thinking about remodeling your home:
- Increase in Property Value: Reinvesting in your home can increase its market value, especially if the renovations or upgrades are well-thought-out and cater to the current trends or demands of the real estate market. This is particularly important if you plan to sell your home in the
next 5-10 years. - Improved Quality of Life: Reinvesting in your home can improve your quality of life. Remodeling your kitchen, adding a home office, or creating a backyard oasis can enhance your living experience and provide more comfort and convenience.
- Energy Efficiency: Upgrading your home’s insulation, heating, cooling, and lighting systems can make it more energy-efficient, which can save you money on utility bills in the long run. Moreover, it can reduce your carbon footprint and contribute to a greener planet
- Enhanced Safety and Security: Reinvesting in your home can also improve its safety and security. For example, upgrading your windows and doors, installing smoke detectors and security systems, or fixing structural issues can make your home more resilient to natural disasters and
intruders.
- Maintenance: Reinvesting in your home can prevent or address maintenance issues before they escalate into major problems. Regular maintenance and repairs can prolong your home’s lifespan and save you money on costly repairs in the future when you sell your home.
Key Data:
- According to Remodeling Magazine’s 2020 Cost vs. Value Report, renovating a mid-range home in the United States with projects like a kitchen remodel, bathroom addition, or a wood deck addition, can result in a cost recovery of up to 70-90 percent of the renovation cost upon resale.
- A report by the National Association of Realtors shows that upgrading a home’s HVAC system can recover up to 71 percent of the project’s cost upon resale.
- The Federal Reserve Bank of Philadelphia conducted a review of home improvement studies and revealed that homeowners can expect to recover between 50-70 percent of their investment when updating old windows with energy-efficient ones.
Overall, reinvesting in your home is a worthwhile investment that can improve your quality of life, increase your property value, save you money on utilities, and enhance your safety and security. Give Lonestar Design Build a call to see how we can help you to add value to your home. Give us a call. (817)590-4499
Take a look at some before and after pictures from one of our clients in a home in Keller, Tx.
March 21, 2023
