At West Construction Group we are asked quite often “should I remodel my home?” Most of the time it is by homeowners wanting to place their home on the market but there are many reasons to remodel your home other than making a financial gain. Remodeling a home isn’t always an easy process but with the right research, realistic expectations and an general contractor’s guidance and experience the outcomes can be very fulfilling.
Reasons to Remodel My Home:
- Increasing the energy efficiency of your home-Adding energy efficient components to your home will add value and increase savings. A good general contractor can give an energy audit of your home and inform where you will receive the most value for your money, this can be done by assessment with an infrared camera. One of the main ways to save money and energy is to replace dated windows with broken seals and single panes. Windows that have the least amount of sustainability only have one pane of glass while the most energy efficient windows will have three or more panes and an intact seal. Low emissivity coatings to glass can also add an extra layer of energy savings and decrease the amount of drafts in the winter months. While new windows are very appealing for the homeowner that wants a cosmetic difference in their home that the neighbors will notice there is also added lighting. Adding a skylight can add thermal comfort and decrease utility bill depending on where it’s placed within the home. So when asking yourself “should I remodel my home?” consider the impact on the environment your remodeled house will have.
- Remodeling is Cheaper than buying a new home- If you have planted roots in your neighborhood and the school district is good the answer might just be just to renovate your existing home instead of moving. Small changes in the floor plan can make a remodeled home feel completely new. Consider the current market trends and the value of your existing home; if it is expected that your home value will increase and there is already a substantial amount of equity then renovating might be a more palatable option than selling.
- The Cost of Remodeling is on the Uprise- Since 2018, there has been a shortage in skilled labor; this is mostly due to the increased amount of hurricanes on the east coast and the recent tornadoes that Dallas experienced. In many parts of the country there is a 3-4 month backlog so if your considering finally giving your fixer upper attention getting on a general contractors waiting list soon is crucial. Additionally, material prices are on the rise, especially drywall, lumber and concrete. The average amount a homeowner spent in 2019 to renovate their kitchen(over 200 square feet) was around $15,000 which is a 10% increase from 2016. Unfortunately, there isn’t relief in sight for the cost of construction to go down since training more workers is the only long term solution to the problem.
- Increase your Comfortability- Many people are staying within the confines of their own home due to Covid-19, less money is being spent on travel and entertainment and Americans are enjoying domestic life more. If you are finding yourself among them then you should be also be loving the environment in which you surround yourself. An improvement of quality of life can simply be caused by customizing your current living situation. As your home ages comfort declines because styles change, paint gets chipped and floors get scratched and an outdated home usually doesn’t function was well as it could. A home that’s an eyesore can easily be fixed with the help of a experienced general contractor into a stylish and up to date home that is the envy of all your neighbors. So get with the times and make the most out of your living situation!!!
- Financing Options are plentiful and Cheap!-When renovating your home you don’t have to wait to have the entire amount of money ready to hand over to a general contractor to start the project. If you have a low rate mortgage and want to safeguard it by not moving then its better the options for a loan have never been better. HELOC loans borrow against existing equity in your home and the interest paid towards the HELOC is tax deductible, the interest rates are typically lower than personal loans and credit cards but your home is used as collateral. A cash out mortgage refinance is also a good option and allows you to pay off the loan as you pay off your mortgage so no additional loan is required and there is a possibility to lower mortgage rates.
At West Construction Group we offer a variety of trades to support your whole house renovation or commercial remodel in the DFW are, we have brought to life custom designs for incredible Dallas businesses and homeowners. Our experienced project developers can help you in all phases of your project as well as help you in the developmental aspect of your preconstruction needs. Call 972-730-2594 for all your Dallas Remodeling needs.
wow…very useful and great idea. thanks for sharing.