Making a comeback: Large home improvements popular once more
Posted on Tuesday, February 10, 2015 at 2:25:47 PM
Recent home improvement trends have focused on the small stuff - a new coat of paint, a front door or a generator. However, according to the National Association of the Remodeling Industry, larger projects are on the way back.
"There has been long term improvement in sales value, which indicates that larger projects are making a comeback," explained Tom O'Grady, CR, CKBR, chairman of NARI's Strategic Planning & Research Committee. "Consumers are feeling that the economy will be good for the foreseeable future."
Above all else, consumers are more confident about the economy. As a result, they are not only willing to continue postponed remodeling projects, but also start new ones.
You may be asking if such a significant investment is right for you, even with access to affordable home improvement financing. To help, here is some advice for starting your next project.
Pick the right project
In an article for the DIY Network, home improvement experts Matt Blashaw and Nicole Curtis outlined several smart projects. One was the renovated HVAC and furnace replacement. The high costs can be offset by energy savings and rebates, plus it will bring a significant uptick in resale value.
Another smart idea is to alter the floor plan or add windows, all in an attempt to brighten up your living space. This can be a costly project, but it is often worth the investment. New lighting, more windows or a removed wall can drastically add resale value to your home, plus it will make your living experience much more enjoyable.
At the end of the day, you should always have the proper planning in place before diving into any major remodeling project. Make sure you can afford the changes, look for home improvement financing and call around to get quotes. This will minimize your risk and help ensure you are pleased with the finished project.