As many homeowners will list their home for resale at some point in the future, here we offer some home improvements you can do now to ensure a successful home sale when the time comes. Also, if you are building a new home, you may find some of these suggestions helpful when designing your new home. See our other posts: New vs. Resale: Peace of Mind and Cost of Ownership - Resale Value
You probably had a lot of big plans for the year 2020; traveling and gathering alike. But with all the changes in society due to the COVID-19 pandemic, most of those things have been put on hold due to social distancing efforts and quarantine safety measures. That said, your home environment has probably become extremely important not only for safety but also for your mental health and overall well-being.
If you’re curious as to what the forecast for home improvements in 2021 looks like, read on for some tips and tricks that will help you plan your next renovation, both economically and rationally.
The Importance of Home Improvements
Putting money back into your home can be a huge advantage for many people. While you may be sacrificing some money upfront to finance renovations, luckily you will be able to reacquire some cash on the back end if you ever sell your home.
If you’d like to make some improvements to your home in 2021, it’s necessary to weigh the pros and cons of each prior to breaking ground. For starters, you will want to make note of the current market value of your home so you can measure the risk of your renovation plans. Be sure to assess your property value beforehand and how it compares to other houses for sale in your area. Pursuing costly improvements may not be worth it based on factors out of your control like where your home is located, changes in the economy, and interest rates.
However, there are some projects that have withstood the test of time in terms of providing value to your home. The key is choosing which upgrades to do when and budgeting for them over the course of homeownership. Fortunately, several of these upcoming trends and improvements coincide nicely with desirability when balancing resale value and pandemic living situations.
Upcoming Trends and Improvements
This year has given us all a lot to think about! When it comes to trends and improvements to try out in your home, consider the following in terms of what will be worth your time and investment, so you don’t encounter any more headaches than you have to in 2021.
Light and Airy Surroundings
After all of the time we’ve spent indoors this last year, it’s no wonder that light and airy surroundings will be a focal point for 2021. Windows and doors are one area of the home that rarely get a facelift until major problems start to develop. Staying proactive on their maintenance and upkeep can go a long way for your improvement expenditures.
If you are in the market for new windows and doors, choosing models that allow in more light and natural air will go a long way in terms of your investment. Believe it or not, window replacement has an ROI of a whopping 81% while door replacement averages a 74% ROI, meaning you will get much of your money back when it comes time to sell.
If you don’t plan on putting your home on the market any time soon, you still benefit either way. For example, did you know that natural light provides many health benefits? In a time when things look bleak, boosting the amount of natural light in your home can help improve your sleep, increase the amount of vitamin D you receive, and reduce the negative effects of seasonal depression. If you’re feeling trapped due to the pandemic, now may be the perfect opportunity to lighten your mood and your home by including more room for natural light.
Catering your home to the specific needs of you and your family is essential to foster a hospitable environment. If everyone in the house is fighting over the same vanity, it may be time to find some room for improvement to your bathroom, like utilizing space-saving solutions.
Whether you add a new one completely or simply update the one, or multiple you already have, you can’t go wrong with putting this project at the top of your to-do list. Studies show that a bathroom redesign can award you upwards of 70% on your ROI, meaning that when it comes time to sell you will reap some major compensatory benefits. And, with everyone confined to one house, having a more functional bathroom will also save you plenty of aches and pains as well!
All Things Considered
This year has presented homeowners with a lot of overwhelming challenges. From isolating during quarantine to abiding by stay at home orders, people’s homes have become so much more than just a place to rest their heads. That’s why taking the time to properly plan any improvements will give you plenty to look forward to in 2021, even if you are stuck at home!
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