Here’s Why Remodeling Your Home Is Important

January 14, 2020 12:33 am Published by Leave your thoughts

Buying a home isn’t an idle purchase. For 99 percent of people, it’s the largest single investment you’ll ever make and one you’ll continue to invest in as you own it. The goal? Building equity. Someday in the distant future when your mortgage is paid off, you’ll have hundreds of thousands of dollars invested in something you can see and touch every day.

The reason why remodeling is important is because your investment in a home is one you have to live with. It dictates your everyday quality of life, and the condition of your home affects how much equity you ultimately have in it. Here’s why every Syracuse, IN homeowner should think seriously about remodeling their home after years of living in it.

Get the living space you deserve

One of the core benefits of remodeling involves raising your quality of life. Imagine the difference between a home that’s old, worn-down, outdated and falling apart vs. one that’s new, up to date, modern and in good condition. Which would you rather live in? It’s no contest!

Renovations are the simplest way to make a big improvement to your quality of life. Think about rooms of your home that you use every day: the kitchen, bathrooms or living room. These places have real value in your everyday life. Improving their quality and comfort is something that’ll benefit you tremendously.

Create new value and improve equity

While paying down the mortgage is the normal way to accumulate equity in your home, there are similar benefits to remodeling.

Think of it like this. Instead of paying $30,000 down on your mortgage, a kitchen remodel might add $30,000 to your home’s value. Your equity in the home increases either way, but with the remodel, you’re enjoying the fruits of that equity right away. You’re still going to get the same amount of money if you sell your home in 20 years—why not start enjoying updated amenities today? Creating new value can trump paying down old debt.

Lower your cost of living

Your aging home could be costing you a lot of money. Drafty windows can add hundreds to your energy bills each year. Appliances barely clinging to life can draw major power, raising your electricity bills. Old plumbing might fail, leaving you with a very expensive insurance claim.

Investing in a home remodel can prevent you from realizing these costs. Sure, you might pay $10,000 for new windows upfront, but a few years of energy savings and reduced HVAC strain will ultimately recoup that cost. Better still, new materials and upgrades are generally good for decades (depending on the update), which means your home is better positioned to generate profit if and when you decide to sell in the future.

It’s easy to think about home remodeling as a luxury, but it’s actually a very practical investment for a variety of reasons. Think beyond how your Syracuse, IN home looks and start considering the value, quality of life and equity improvements that come with a major remodel.

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