Does Every Home Remodel Really Add Value?

We’ve all heard the numbers about home remodels, haven’t we? Remodel the kitchen, and you can easily recoup 70-80% of the cost, and if you remodel a bathroom, you’ll definitely increase the value of your home. 

If only reality were this simple.

Here’s what all those home improvement shows conveniently leave out…

When it comes to the remodel paying off, it doesn’t do that in a single currency. There’s the money that you might (or might not!) see at closing, which is what most people focus on. But then there’s also the everyday value that you see in lower electric bills and less maintenance. Not to mention that simply enjoying your new space should be payoff enough, right?

So, where’s the problem, you ask? Because it all seems great. 

Well, it really isn’t. 

The problematic part of this is that a lot of homeowners plan for just the money part of the value, but end up with everything else. 

And they could have prevented that if they only knew what they were actually chasing.

How Do You Know If a Remodel Is Worth It?

People get hung up on what the remodel is going to do for the price of their home when they decide to sell, and to be fair, that’s not entirely wrong.

But one thing that everyone seems to forget is that you’re not packing your bags the moment the remodel is done, right? 

You’re renovating your kitchen because you finally have the funds to build a big space with an island, or you’re renovating your bedroom because you’ve always wanted that walk-in closet. It’s only natural that you won’t like the end result if you’re remodeling in order to enjoy your home more, but all you’re focusing on during the remodel is what you can get out of it if you decide to sell.

If all you want is to freshen things up, you should know that that doesn’t usually end up as money well spent. 

The way you know you’ve spent your money well is if you take care of something you don’t like, like a bathroom that has exactly one cabinet, but there are 3 people living in the house, and that cabinet can’t hold everyone’s essentials. 

If you do it this way, you’ll get the payoff right away. If, on the other hand, you decide to splurge on a fancy backsplash, you’ll still be left with a room that drives you crazy.

Keep in mind that, even if you do everything right, if you decide to skimp on a contractor, it all falls apart. The remodel only works if it’s done well, which usually means that you can’t go with the cheapest option. That’s not to say that you can’t find affordable contractors who can do quality jobs, but that’s pretty rare.

K Graber Construction is an example of a reputable construction company that’s worth looking into because they focus on long-term quality instead of taking your money for something that just looks pretty right now. 

So go with such a company, to make sure you get what you want.

Where the Real Value Comes From

Unless you’re renovating your home purely because you want to sell it, the first thing you should do is to stop worrying about how much money you can get from a buyer in the future. 

Once that’s out of the way, here’s what will bring you actual value.

A House That Works Better Every Day

What annoys you about your house?

The answer(s) to that question are how you’ll know what you should spend your money on. Maybe it’s the kitchen counter that never has enough space, the living room that’s always gloomy, the backyard that has nothing but grass in it, the lack of storage so you’re always drowning in clutter, etc.

Be practical because that always pays off.

Fewer Repairs in the Future

Can you be 100% sure your house is not falling apart behind the walls? 

If you can, then you have a certain kind of peace that not many people have. And it’s priceless. It means that there are fewer emergency repairs in your future, and you know that those can completely drain your budget.

Replacing your windows, the roof, and insulation, none of it is fun, but the payoff is substantial, to say the least.

Lower Bills

This is also the result of the not-so-fun part of the remodel we just talked about. 

Good insulation and windows that don’t let drafts in mean your energy bills will get lower. If you upgrade your HVAC system, it’ll run better, and you’ll have an easier time being comfortable in your home. 

This is something that will keep paying off in the future, which is the kind of value you can’t argue with.

Wrapping Up

Hopefully, you now have a clearer picture of which renovations will pay off and how to be almost 100% sure you’ll be happy with the results. 

As it is with most things in life, the first thing you need to do is decide what kind of value you’re after. The funny thing is that this is what most people get wrong, and then they don’t understand why they didn’t get what they wanted. Don’t be one of them!