The American homeownership story used to be simple.
First, you got your starter home, usually after starting your career, watched it appreciate in value, then use that cash from the sale to upgrade to your forever home. Then, once you became empty nesters, it was time to downsize to a home with less upkeep and use the spare cash to fund your retirement.
That all changed 10 years ago in the Great Recession that saw home values plummet to next to nothing.
With that housing crash fresh in mind, in addition to favorable interest rates and a lack of cash on hand, many people are choosing to upgrade their starter homes for the long haul through remodeling.
This trend is outlined in a Chicago Tribune article titled, “Why Americans are shunning new homes and opting to stay put, remodel instead.”
So, if you are finding yourself in this position, you are not alone! We’ve guided many people through this chapter of the evolving American homeownership story.
And if you are thinking about making changes to your starter home for the long haul, chances are you are going to start with the bathroom.
An article on Bankrate.com has the answers to how much that might cost you. The article says the average cost is just under $10,000, with lower-end remodels hovering around $6,000 and higher-end projects topping out around $14,000.
Whether you are looking to add a modern flair, be more efficient with your electricity or water consumption, or just need an extra sink, we’d love to be of service.
Have a great week!
While a lot of us are preparing for weekends full of bone-crunching tackles, it appears the remodeling industry is still laying the smack down on 2017.
According to a recent Houzz survey, 2017 is on track to be a “boom year” for the remodeling industry.
The annual Houzz & Home survey says homeowners plan to spend an average of $27,300 on home renovations in 2017.
That number is 3.4 percent higher than the 2016 figure of $26,400. (The article rounds up to four percent, which is not accurate.)
The report says both recent buyers and repeat buyers are driving the spending, with repeat buyers spending twice as much as their counterparts.
One expert quoted in the article says a lack of affordable homes is leading many first-time buyers to purchase homes that require more than cosmetic upgrades.
If you are following the trend and getting ready to embark on a remodel, we’ve tracked down some tips for hiring the best contractors.
All seven tips are from the Better Business Bureau and run the gamut from the obvious (get a contract, don’t pay everything up front) to the less thought of (ask about insurance, licenses, bonding).
Have a good week!
Remodeling or renovating a home can get costly very quickly.
While not everyone has the budget to start tearing down bathrooms and replacing them with spas, every homeowner can benefit from knowing that no matter the budget there is always something that can be improved.
It’s usually the simple changes that can bring a whole new look to a room. Luckily for you the simple ones are usually the most affordable.
Light it up
Dark and dim rooms feel crowded. If you have rooms that suffer from poor lighting it may be time to simply upgrade the lighting.
A lighter room will make it feel larger and more open.
While you are at it you can replace your recessed lighting with pendant lighting for a more modern look that will bring a new perspective to a room.
LED lighting is another very affordable upgrade to your home that will make a room feel more clean and modern.
A fresh coat of paint
If your home has bad paint, outdated colors or maybe even just one color paint it might be a good idea to add a fresh coat of paint on your walls.
If you don’t want to paint an entire room you can add an accent wall. Make sure you use a neutral shade of your existing paint. Doing so will make your space feel brighter and cleaner.
As a last resort, you could even do as little as touching up dirty or faded trim around the house to bring a sharper and defined look to your home.
Affordable landscape upgrades
The outside of a home is often overlooked, but it is just as important as the inside because it is the first thing people see before they enter your home.
Luckily there are a number of extremely easy ways to update your yard.
- Put new dark colored mulch to your plant beds for a refreshed look.
- Add some potted plants by the front door.
- Make a path for high trafficked areas using stepping stones, wood or even concrete with a wood edge.
- Add decorative edging around your flower beds made of brick, stone or wood. Be sure to get creative by curving or waving the line to add dimension.
- If you have a larger budget you can create a garden bed island in your front yard made of varying sized plants and small trees. This will create a nice focal point to your front yard.
Kitchen on a budget
The kitchen is one the most trafficked and celebrated rooms in a home. It is where we eat together and talk.
If your kitchen has some extra floor space you can add an inexpensive island with bar stools for people to relax.
Giving your cabinets a new look can also be inexpensive if you paint them a nice accent color or even remove the cabinet doors altogether.
New fixtures like knobs, handles, and appliances can also refresh the look of your kitchen. If you want to go a step further you can even use sharp colored small appliances as decorative pieces to bring an energetic touch to your kitchen.
Something like a blue toaster or a red blender would do the trick!
Bathroom refresh
The bathroom is one of the first things to get renovated in a home because it often has one of the largest ROIs.
An easy way to refresh a bathroom is to simply regrout the tiles when they get grimy and recaulk around the sink and tub to add a fresh clean line. Doing both of these will make any bathroom look more sharp and clean.
If you want an updated look to your bathroom, adding a granite countertop could also be a nice improvement. Since the bathroom counter is usually small the investment in granite shouldn’t be too big.
When all else fails just updating the handles, faucets, and towel racks can even bring a refreshed look to a bathroom.
If there are any budget home improvement tips that you have done be sure to let us know in the comments below.
About the author: Blake A. is an Orange County resident who loves all things DIY and hanging out in the hot California sun. He talks about home remodeling tips and much more on his blog at Project Build Construction Group Inc. (https://www.pbcgroupinc.com).
