If you're planning a remodeling project, whether your goal is a more stunning living room, a functional family-friendly kitchen, or a complete overhaul to increase your property's resale value, you're not alone. If fact, you are now part of the majority. Remodeling activities have reached an all-time high as more homeowners plan to stay put and improve their existing homes instead.
In the 2022 State of Home Spending Report, an average of $8,484 was spent on improvement projects. Hanover's 2023 Home Renovation Report indicates that even with higher costs, 61% of U.S. homeowners are looking to take on renovations in 2023, with 25% planning a major project. Given this, why does a home remodel to make more sense than moving and starting afresh? Well, no matter how you choose to look at it, working with what you have has many benefits, including staying in the neighborhood you love, complete customization to improve quality of life, and the affordability of a remodel over buying new.
A new Houzz survey of nearly 4,000 homeowners reveals that one-third of those surveyed are already in the midst of a home improvement project, and the most popular areas tackled are bathrooms (37%) and kitchens (33%). California home remodeling has become increasingly enticing, with the majority of homeowners spending record amounts. Remodeling expenditures aim to improve the function and aesthetic appeal of old homes while enhancing energy efficiency is a key consideration in about half of the projects, according to the California Residential Remodeling/ Renovation Market study.
In his interview with Los Angeles Times, Mark Boud, senior vice president and chief economist at Metrostudy, states that California is a prime remodeling market. He continues to share that upgrading a home makes more financial sense than purchasing a new property. Home remodels' true price is based on location, size, scope, and materials used. For example, the average cost per square foot of home remodeling in Los Angeles is $20-$95, while it costs $25-$115 per square foot in the Bay Area. It is best to consult with a design-build firm like any construction project to ensure you are making the right decisions.
Whether you're looking to increase your property value or simply make your living space more beautiful, a remodel can up the quality of living by several notches. Below are a few reasons why you should consider a home remodel:
Remodels are often recommended to fix aesthetic issues but are also a great way to make room for a growing family. Enhancing the function of your home and making full use of its space enables your family to use each room in non-restricted ways. Quite simply, this allows you to accommodate a growing family instead of going through the stresses of moving into a newer, larger house. Engage a family home builder who understands your changing lifestyle needs and can beautifully articulate them into a thoughtful home remodel.
A home remodeling design can give an old property with a dated look a feeling of newness. Everything from repairing any fragmented structure to updating its style to your liking can enhance its aesthetic appeal. And now that we have to work, live, and sleep in the same place, there's certainly no harm in reconfiguring your home in a way that renews your love for it.
Remodeling your home also allows you to upgrade out-of-date plumbing, electric, and other installations and begin fresh with modern quality systems. Years of changes in building codes and manufacturing technology have resulted in varying designs and standards. Find home improvement contractors that will ensure each detail is handled professionally and installation meets local code at every turn.
Any energy improvement effort that significantly saves and improves performance benefits your quality of life. Since we spend a good portion of our time indoors, it's best to make it as comfortable as possible. With a typical U.S. family spending at least $2,200 a year on utility bills, investing in an energy-efficient home design can lower this amount by up to 25%—and new insulation is a great example that can decrease energy consumption.
Home remodel require effort, time, and money, but the outcome ensures the right space for you, your tastes, and your lifestyle. These are some of the top benefits to consider:
The wear and tear that naturally comes with the years can make you outgrow your current home. Searching for a new property to buy is a stressful and time-consuming process—and let's not forget the expenses that come with a new purchase. It's almost always less expensive to remodel an existing house, and research by Zillow indicates that homeowners are leaning toward upgrading their properties.
It's not uncommon for properties to experience problems such as electrical malfunction, roof leaks, or a foundation crack once the home starts reaching its limit. Failure to effectively address these issues can affect the comfort level of your home—even worse, your safety is at stake. Whether installing quality flooring, modern electrical and plumbing systems, durable roofing, or any other upgrade, taking on a remodel ensures your home is durable, sturdy, and safe to live in.
This benefit really is one that you ought to consider when the main objective is to significantly save on energy. An energy-efficient home uses less heat and yet has increased performance and comfort. As you picture an improved house and consider home remodeling contractors near me, ensure that the changes you make boost the efficiency of your home and drive utility costs down.
Over time, a house may develop flaws and become a bit dull. This shouldn't force you to work around what you no longer desire. Physically improving your environment is an opportunity to invest where you spend most of your time. Surprisingly, upgrading your surroundings can change your day-to-day habits and bring a more fulfilling way of living.
Does your home's current aesthetic complement your evolving style? If the answer to this is no, don't waste another day looking at that not-so-appealing kitchen or bathroom. This is the perfect time to hire home remodelers for a customized, timeless space that meets all your aesthetic preferences.
There's nothing quite unpleasant like a cramped, cluttered, and outdated home.
Another key benefit of an upgrade is the confidence it gives you to invite over and entertain guests. With improved aesthetics, function, and flow, you can dramatically enrich your social life with a comfortable place accommodating your loved ones.
Remodeling the home you cherish is a fun project to undertake, one that will encourage your creative pursuits as you make decisions on the many different ways to spruce it up. This is also a fantastic time to explore ideas that bring you joy.
Remodeling your property can positively impact its value, an article by Investopedia, "Will Your Home Renovations Pay Off?" suggests. When you anticipate renting or selling, your remodeling choices should reflect that which will most likely help you fetch a good price. How to increase home value? Here's what you need to know:
A study revealing that Americans spend 400 hours a year in the kitchen indicates that prospective buyers or renters are most likely to eye this part of the house as a deciding factor. So how much value does a kitchen remodel add? Investing in this space is almost always worth the expense as it promises to boost the value of your home. Your location, the local market, and the project scope largely influence its Return on Investment (ROI).
According to an article by Ramsey Solutions titled "How Will Kitchen Remodeling Affect Your Home's Value?" the national average ROI for a minor remodel is 81% and quickly increases to 93% in the Pacific area. ROI for major upscale remodeling is almost 54%. Minor works done by a kitchen remodeling contractor include new cabinet fronts, hardware, countertops, flooring, lighting, and modern appliances. Major remodeling includes finishes of the highest standard, like top-of-the-line custom cabinetry, high-end appliances, stone countertops and backsplash, and an upgraded lighting scheme.
Due to high foot traffic and daily use, bathrooms take the most beating and will likely look worn and unkempt over time. Similar to a kitchen remodel, the cost involved in upgrading this space can mean big bucks. For example, a bathroom remodel in Los Angeles can cost between $18,000-$74,500 and more.
Overall, upgrading your bathroom makes it more enjoyable and significantly enhances your daily morning and evening routine. Based on the House Method report, this area is the most popular of all home improvements. The same report reveals that the average bathroom remodels costs $26,574, with an expected ROI of around 60% to 70% upon resale.
If you're wondering how much value an ADU adds, you'll have to consider factors such as size and quality. With ADU becoming a more popular option for homeowners in California, it is one of the best value-adding remodeling projects. In America's biggest cities, a property with an Accessory Dwelling Unit is priced an average 35% higher than a home without one, an analysis by Porch.com reveals. The flexibility of additional housing means homeowners achieve a higher resale value and enjoy this option for themselves or as an extra source of income through letting.
Better Homes and Gardens article "How to Estimate Backyard Renovation Costs—and Stretch Your Budget" suggests you can spend $500 to $2,000 for simple improvements or $10,000 or more for a complete outdoor remodel. And while it may cost more, it is one of the home upgrades that add value instantly. Outdoor projects that have become increasingly popular include deck or patio addition, refreshed landscape, upgraded lighting, as well as installing a lawn sprinkler system.
Don't start the project without proper planning or an unrealistic budget when remodeling your California home. It's important to work with a knowledgeable contractor from start to end so the right expectations for the project are set. Having a clear direction, including a schedule and the amount you're most likely to spend, will lead to a more successful project. A remodel of your dream is possible with effort, patience, and the correct planning.
For example, you must hire the right team when undertaking this sort of project, home remodeling in Los Angeles. Ensure they have done similar projects to yours and have the right licensing and insurance. Ask about their process, who does what on-site, what challenges they anticipate, how they will protect your property, and the time it will take to complete the project. These details ensure that both parties are on the same page from the outset.
If you're planning your first home remodeling project, understand that the process may exhaust you with endless decisions. It can be time-consuming, and the reality is, remodels never cost less than expected. In addition, it's important to know what permits are needed to ensure work done is in accordance with local codes and structural requirements. Working with a home remodeling contractor in Los Angeles can reduce decision fatigue and help you stay on top of everything.
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