The best renovations to get this summer
The warm weather and extended daylight hours make summer ideal for home renovations. You can work on indoor and outdoor projects without worrying about extreme weather conditions. Plus, the kids are out of school, making it easier for the whole family to get involved, which could be a good or bad thing, depending on your kids. If you have gone through the process of getting the financing you need for your project, you are ready to decide what to tackle first.
Setting your renovation goals
Setting specific, achievable goals is crucial before tearing down walls or painting ceilings. Here’s how you can break down your renovation goals into manageable steps:
1. Assess your needs and wants
List what you need to fix and what you want to upgrade. Needs might include repairing a leaky roof, updating old wiring, or replacing old creaky garage doors, while wants could include installing a new kitchen backsplash or creating a garden oasis.
2. Set a budget
Knowing how much you’re willing to spend is a key step in your renovation journey. A clear budget can help you prioritize tasks and prevent overspending. By this point, your renovation financing should be approved, giving you an exact figure for your budget.
A study by research group Ipsos and construction software platform Hover surveyed adult respondents who had just completed a home renovation project. They found that homeowners rated the budgeting process the most difficult challenge (31%), followed by selecting a contractor (29%), researching products, materials, colors, and cost (23%), deciding on changes made to the home (23%) and the actual renovation process (23%). (Forbes.com, 2024)
3. Plan your timeline
Set a realistic timeline for each project. If necessary, break your renovation into phases so you don’t feel overwhelmed.
Kevin Brennan, Construction and Renovation Manager at Mortgage Equity Partners advises, “Summer is the busiest time of year for contractors. If you need a builder, carpenter, or other specialized tradesperson to work with you, be sure to get solid confirmation from them to keep your timeline on track.”
4. Research and gather ideas
Look for inspiration online, in magazines, or by visiting showrooms. If you are a vision board person, create a vision board to help you visualize your end goals. Another way to help homeowners visualize design options and what renovation projects will look like is to use 3D drawings or models. This technology is being used more frequently by many of the large builders across the country. It allows homeowners to look at a mock-up to see what the project may look like when completed. This gives them more control over the process. There is ample opportunity for builders and contractors to use technology to improve the experience with more transparency and communication around projects, making happier homeowners!
5. Prioritize your projects
Not all projects are created equal. Some may add more value to your home or improve your daily life more than others. Start with high-impact projects first.
What are the best high-impact projects for summer renovations?
Kitchen remodel
A kitchen update can significantly impact your home’s value and functionality. Focus on modernizing appliances, refreshing cabinet finishes, or adding a stylish backsplash.
Bathroom upgrades
Revitalize your bathroom with new tiles, fixtures, or a walk-in shower. Small changes like fresh paint and updated lighting can make a big difference.
Outdoor living spaces
Expand your living area by creating inviting outdoor spaces. Consider building a deck, installing a pergola, or designing an outdoor kitchen. These additions can make your home more enjoyable and increase its resale value.
Landscaping and gardening
Enhance your curb appeal with landscaping upgrades. Planting flowers, trees, and shrubs can transform your yard. Consider adding a vegetable or herb garden for a sustainable touch.
Energy efficiency improvements
Summer is a great time to improve your home’s energy efficiency. Consider adding insulation, upgrading windows, or installing solar panels. These changes can reduce your energy bills and make your home eco-friendly.
Garage door replacement
According to an article on YahooFinance.com, garage door replacement has up to a 94.5% ROI. Replacing old doors can also increase your home’s energy efficiency since many older models may leak or lack insulation.
Finish basement
Finishing a basement adds livable space, an important factor when a buyer looks at your home.
Renovating your home this summer can be fulfilling and rewarding. Setting clear goals, planning, and taking on projects that add value can transform your living space into your dream home. Ready to get started? Grab your tools, gather your ideas, and contact an experienced loan officer for information about a renovation loan today!
Sources:
Forbes
Yahoo Finance
