Homeowners have one distinct advantage over those who rent their properties: they can alter the interior of their houses to make them more modern and attractive. This work is known as remodeling, and remodeling companies can be found across the United States to help. Typically, this job requires a lot of hard work, so remodeling contractors can and should be hired to help. Some remodeling contractors are what are known as “design build” teams, meaning that these remodeling contractors can help the homeowner both design the new interior and built it. Some homeowners have the perfect vision of what their remodeled kitchen or living room should look like, but other times, a homeowner may want professional help with that. Home remodeling may not only make a room or the entire house feel fresh, but it also greatly enhances the value. Remodeling can pay off in big ways in years to come.
Investing in Remodeling
Both remodeling and landscaping (altering the front and back yards) is costly, but these investments may pay off big when the homeowner puts their property on the real estate market further down the road. Remodeling major rooms such as the kitchen or the bathroom can yield a ROI, or return on investment, as high as 70-80%. After all, if a home is remodeled, it will be more attractive to buyers on the market later on, and the homeowner can ask for a higher selling price. These remodeled homes tend to sell faster, too. All of this is also true if the homeowner has invested in some fine landscaping for their property.
Who is spending cash on remodeling, and how much? Right now, those of the Baby Boomer generation (born 1945-1963) are the biggest spenders on real estate, having had time to build up their finances and get experienced with home ownership. Just last year, spending on home improvement products went up to $303 billion just last year, and the Joint Center for Housing Studies of Harvard University estimated that $340 billion will be spent on home remodeling in 2018 alone. A 2017 Houzz study found that Baby Boomers tend to spend about three times as much on their homes as homeowners of the Millennial generation (born 1982-1995), although this may change in the coming years. Millennials have captured the interest of markets of all kinds, since these adults are now old enough to afford major purchases such as cars, homes, and home remodeling. The interests, tastes, and preferences of the Millennials may be a huge factor in the coming years as these young adults age. Within 10-15 years, a similar scenario may play out for those of Generation Z, born 1996-2010. They, too, will alter the real estate market as they enter their late 20s and early 30s later on.
The Work of Remodeling Contractors
Minor home repair and decoration can be done without the help of professional crews, such as repainting a chair or replacing the handles on drawers. However, for a room to be totally remade, the homeowner should hire remodeling contractor crews who will have the tools, materials, and skills needed to completely remake a room. An interested homeowner may look online for such contractors in their area, and a search engine can help with this. Remodeling crews may also have their own websites, where articles, videos, and photos showcase their work to impress customers.
How can this job be done? In some cases, one or two particular rooms such as the kitchen or the living room might be remodeled, and in 35% of home remodeling jobs, the entire house is worked on. A house can have a consistent, thematic look from end to end if this is done, though this work may take time (and take up a lot of room) to complete.
The kitchen is a popular room to remodel, such as replacing the floor tiles or appliances such as the stove or fridge. The countertop might be replaced with a tough but attractive marble or granite model, and plumbers can replace the sink. Or, the master bathroom can have its old tub, toilet, or shower replaced with newer, low-flow models that look nice and also save money on the water bill every year. The flooring or lighting fixtures might be updated, too.