Reprinted form out partners Blog at Enerbank
There are so many things that people can do to their homes. It’s no wonder that popular remodeling trends change from year to year. For a long time, in-home bars were popular—then vinyl siding, hardwood floors, and now granite. New changes are always on the horizon, but if you want a good return on your investment, going with what’s “hot” might not be the best option. This year, the best remodels will focus on upgrades that improve appearance and function but will also continue to be attractive additions in the future. Returns on Remodeling Investment Come in Different Packages Returns are great to think about if you’re planning to sell, but if your home won’t be on the market anytime soon, it’s probably not as important to focus on renovations that increase property value—it’s okay to focus on getting the home of your dreams, and not necessarily on increasing its resale value. That being said, the return on investment is the bottom line for anyone looking to sell quickly and make a profit. Anyone who plans to sell should be aware of the trends that are popular across the country, and what the likely return on remodeling costs will be for particular projects. Staying Power Equates to Better Returns on Remodeling Costs The biggest returns on remodeling costs are more likely to come from projects with staying power. Identifying the staying power of a particular project, however, is not always easy to do. If you look at the popularity of granite counters, it would be easy to conclude that these were more than just a fad. However, as many other counters offer benefits that are very similar to those of granite, and cost less, this material may be replaced by something else of similar performance in the future. Choose Classics to Boost Return on Remodeling Investment One thing to remember is that function never goes out of style. And, choosing materials that have been found to function well for generations are rarely a bad decision. The return on investment is often less impressive if the material used in a remodel go out of style. So, to boost your cost recovery, high-quality materials that have been around for ages are often a safe choice. For example, it’s unlikely that many homeowners would scoff at genuine hardwood flooring—the chance of this becoming undesirable in our lifetime is slim. For additional details on the types of remodeling projects that add the most resell value to your home, click here to read more. And, if you’re looking for a great way to pay for a future remodel, be sure to choose a contractor who offers an attractive choice of payment options from EnerBank USA®. Visit us at enerbank.com/homeowners to learn more.