How to Plan a Home Renovation

After purchasing your new home, you’ll want to ensure that it’s at its best both now and for years to come. Whether you change an appliance or renovate an entire room, every improvement helps future-proof your home.

How do I get started renovating my home?

The first thing you’ll want to do before renovating your home is identify and prioritize problem areas that should be addressed. Depending on the type of work that will be conducted, you may need to reach out to specialists and compare multiple quotes.

Additionally, it’s worth looking into how you’re going to finance the renovations. Despite the long-term return on investment, upfront costs for home renovations can quickly grow expensive. Refinancing lets you leverage your home’s equity to lessen the burden of upfront costs.

Which home renovations provide the most return on investment?

If you’re looking to increase the value of your home while improving the livability of your space, then it’s worth looking into the following changes:

• Garage door replacement: One of the most popular renovations at just under $4,000, which can significantly change the look and feel of a home and allows homeowners to recoup 94% of its value.
• Siding and roofing material replacement: The materials used to protect the side of your home and roof can be updated for newer, more resistant materials that return over 60% of their value over time.
• Kitchen remodel: Updating appliances and fixtures around the kitchen and replacing cabinets may have a steep initial cost, but they can provide energy-cost saving and continued use.
• Bathroom remodel: Changing the tiles and flooring can improve the aesthetics of your bathroom, while upgrading your toilet and other fixtures can improve function and water efficiency.

As with most renovation projects, it’s important to consider your budget and needs to align your home improvement priorities.