Whether you just bought your first house for a growing family, finally have enough saved up for your dream home, or are looking to invest in real estate as a business, homeowners have a lot of hard work ahead of them. Though real estate often appreciates over time, it is important to be proactive in improving and increasing the value of your house.
Remodeling, renovation, and restoration are all words you will hear related to making your house better for you and more appealing to potential buyers. Sometimes these terms are used interchangeably, but there are subtle differences.
Whether your house needs to be remodeled, renovated, or restored depends on the kind of house you own and what your personal goals and budget are. You may need to do a combination of the three in the process of turning your piece of real estate into “home sweet home”.
Remodel- If you have purchased a house that is dated or was poorly designed, you are probably looking at a remodel. Remodeling involves more drastic changes from one kind of thing to another. This often applies to the kitchen and bathroom which begin to look dated more quickly than other areas of the house because of developments in technology and style.
Remodeling also applies if you want to adjust a traditional layout to open concept, turn a closet into a powder room, or adjust the floor plan in other ways. An addition to give you more space for an extra bedroom, a music studio, or whatever you want in your dream home is also in the remodel category.
Renovate- If you have an older house with a good design that needs some repairs to keep it up to snuff, you are dealing with renovation. Though less glamorous than remodeling, because there will not be as noticeable of a change, renovation is nonetheless important for keeping a house safe and sturdy. Renovations could include getting help from a Roofline Design company to replace gutters or roof fixtures. It also involves cosmetic changes like painting or removing outdated technology. Repairs to the structure, wiring, foundation, etc. will ensure that your home will remain in top condition for years to come.
Restore- If your home is historic, even if not officially listed, you should consider restoration. Restoration refers to enhancing the home’s structure and appearance by using in-kind materials. For instance, if you have plaster interior walls, putting drywall over them would be renovating, but hiring a craftsman to replaster would be restoration.
If you are in a listed building, be sure to follow the guidelines given to you and take the time to research and work with knowledgeable craftsmen. Restoration can be much more expensive than the other two options because materials are no longer mass produced and the labor is more specialized, more time consuming, and more likely to be done by hand. However, restoration can be extremely rewarding if you have a connection with the house and its historic significance.
Owning a home involves more energy and often more financial investment than renting. Ensure your investment with appropriate care of your home. Remodel, renovate, and restore!