The Benefits of Renovating Your Home Are Worth Taking A Look At.
Renovating your home requires a lot of time, money and effort. So, why do it? It starts with knowing why you want to do it. For many homeowners, it can be as simple as improving the quality of life.
For others, it can be a way to mark a new beginning or to close a chapter in the family’s life. Empty nesters may want to renovate to help them adjust to life without kids at home. A young family who just bought a fixer-upper may want to renovate to ensure the house is suited to their needs.
Home renovation can also be a more ‘sensible’ alternative to moving. If you’re looking to stay in your neighborhood for the next couple of years, it might make more sense to renovate.
Renovating your home means avoiding inevitable costs related to selling. These can include your agent’s commission, taxes, and legal fees, among others.
What Are The Other Benefits Of Renovating Your Home?
- Boost your property’s value. A well-planned and executed renovation can increase your home’s value. If your intent is to resell or rent, consult with an agent. Find out which improvements will most likely appeal to tenants or buyers.
- Be more environment-friendly. Renovating your home can be an investment towards minimizing your carbon footprint. You can also enjoy long-term savings. Low flow taps and shower heads can reduce water use. Installing solar panels can help lower energy costs. Do note that these eco-friendly changes may cost you more at the beginning. Over time, you should be able to appreciate the return on investment.
- Maximize your space. As families grow or priorities change, so must your space. A home renovation project can help you make sure your home is well-suited to your changing needs.
Tips For Renovating Your Home
- Get ideas from magazines and brochures but don’t buy just yet. Check to see if there are cheaper alternatives or if there are more cost-efficient ways to achieve your goal. For instance, if you want to make a room look brighter, a paint job can do the trick. If you want to create the illusion of a bigger space, the strategic placement of mirrors is an inexpensive way to do that.
- Set a limit to how much you are willing to spend. Not sure how much? Go back to tip #1. This will give you a ballpark figure. Don’t forget to factor in a buffer for unexpected expenses.
Also, don’t be shy about negotiating for a better deal. But when you do, make sure you look the part. Don’t wear designer clothing or noticeable jewelry. Keep it casual and simple. If you look like you don’t need the discount because you can afford the fancy stuff, you’re probably not going to get it.
- If you’re on a budget, choose which area will benefit you most once renovated. It also helps to break down the renovation into smaller projects. This is to avoid getting overwhelmed and losing track of the budget.
- Professional help. If you are not confident about your DIY skills, you may end up making costly mistakes. Consider investing in professional help. Find a contractor who can work with your budget and timeline.
Now that you’ve got ideas for renovating your home, here’s the next big question.
Where Do You Get The Money For Renovating Your Home?
Whether you’re renovating your first home or fixing an investment property, we can help you. Sun Mortgage Funding offers a loan product specifically for home renovations.
We also offer expert assistance in project planning and inspection. From interim funding to permanent financing, we can guide you so you can renovate with confidence.
Call us now and let’s see how we can make your renovations goals a reality.