Are you thinking about completely remodelling your home, but your budget is small? You may want to consider refreshing you home instead. There are a lot of benefits to both refreshing and remodelling, but there are also downsides. In this article I take a closer look at both types of renovation and see what you can expect.
Remodelling
Pros – By remodelling your home this can greatly increase its overall value of you home. This is a good way to try to recoup equity in your home or sell it in a down market. The results of a remodel are usually more dramatic and can make the entire home feel like a new property.. All those problem areas can be addressed and you can have newer features put in that will make the home more workable.
If you are considering moving, but not really committed to it, remodelling your home will make it feel brand new. By creating larger rooms, remodelling your kitchen to make it more functional or just improving the existing space, remodelling is usually the best answer.
Remodelling is most likely necessary in many cases, especially if you home is severely dilapidated to the point where refreshing will not be of any help.
Cons – Remodelling in most cases is too expensive for many homeowners. The renovation costs can easily run into the tens of thousands, especially if your home needs a lot of help. A renovation project may require a home improvement loan, and this can eat into your home’s equity.
Pros – Refreshing your home is a very cheap alternative to completely renovating your home. Refreshing will allow you to retain certain features such as built-ins or other permanent fixtures in your home. Using the right techniques, refreshing can be done in as little as a week and often can give you similar results as a complete remodel.
Refreshing is perfect for homeowners that need to sell their properties quickly and don't have the time to do a complete renovation project. Essentially you can make your home look almost brand new within a week or two compared to a month or two for a remodel. Refreshing is also a good alternative for those people who prefer DIY projects, maybe with a little help from a professional.
The main benefit is of course the price. Refreshing your home will cost thousands less than a remodel, and can produce almost the same results in the end.
Cons – The biggest draw back with refreshing is that you are not really addressing the problem areas in your home. For example, you don't replace older appliances that may be past their prime, nor are you fixing issues regarding fixtures that no longer work or areas that are completely run down. In a nutshell, refreshing is best for homes that still have a lot of life in them and only need cosmetic assistance.
So here is the final thing to consider. A remodelling project can take months to complete if you are renovating areas such as the kitchen or bedrooms. Renovation projects can significantly impact the way you live for a long period of time so you may need to stay in a hotel or with friends, and the costs can really mount up over time. On the other hand a refresh can be done quickly, often in a weekend, and can significantly change the look of a room. So which is right for you?
If you have decided to take on a renovation project and need a Contractor?