Making Your Home Feel Fresh Again Through Renovations

You probably loved your home when you bought it. It was exactly what you wanted. The space was one that you were excited to make yours. Unfortunately, with the pandemic keeping us inside for so long, many people are starting to get sick of their homes. But what if there were a way to fall in love with your house all over again? Many homeowners have started to do that exact thing through renovations. If you want to freshen up your house, here’s how a renovation can do just that, presented by the Prestige Property Team.

First Things First - How to Pay for a Renovation

One of the things you need to consider before starting renovations on your home is the cost. Renovations can be pricey, and you’ll probably need to dip into your savings to make them possible. If that’s not an option, you can always consider cash out refinancing or a home equity line of credit.

Cash out refinancing is a type of mortgage refinancing where your current mortgage is replaced with a new one. The new mortgage is larger than the original, and the difference between the two is given to the borrower as a result. This is a great way of being able to afford renovations if your savings are a bit tight. However, make sure you visit sites like PennyMac to keep an eye on the best cash out refinance rates.

Another option is a home equity line of credit, also called a HELOC. Nolo explains that this is a loan in which you borrow money against your home’s equity, which is the difference between your mortgage balance and your home’s value. Most lenders only allow you to borrow 80 percent or less of your home’s equity, so if you haven’t lived in your home long enough to see its value increase significantly, a HELOC may not give you the home renovation budget you need. However, these loans are a great option for owners whose homes have boosted in price over time.

Planning For a Renovation - Creating a Healthier Home

When you’re going through the process of a renovation to revitalize your home, you need to make it worthwhile. One way of doing so is focusing on creating a healthier home. A few ways to achieve this are:

● Creating a dedicated workspace. Being able to separate work life and home life is essential for your mental health. This can be achieved with a dedicated workspace.

● Creating social spaces. Spending time with your family is important. Social spaces can promote family togetherness, thus promoting a happier home.

● Improving airflow. Changing the layout of your home to improve airflow, or installing windows to improve it, is a great way to make a home feel spacious and healthy.

Knowing Your Limits - DIY vs. Professional Renovations 

When you’re choosing to renovate, it’s very important that you know what renovations you can accomplish yourself, and what to leave to the professionals. This is less about skill and more about safety, of course. Not all renovations are cut and dry, and some involve working with hazardous systems, or systems that have the potential to create hazards.

When you’re thinking about the intended renovations, ask yourself the following questions:

● Is it simple? Jobs like painting are easy but time-consuming. These are perfect for do-it-yourselfers.

● Can I get hurt? If you can be injured while attempting the renovation, it’s probably best to leave it to the professionals. Electrical jobs are especially important to avoid if you’re unskilled.

● Will a mistake cost a lot of money? This is directed towards plumbing, really. Plumbing mistakes can lead to water leaks, which can actually ruin your entire home. This is definitely professional territory.

That being said, the internet is an excellent resource when it comes to DIY tutorials. If you’re a skilled hobbyist or craftsman, you may be able to tackle some more advanced projects on your own.

Refresh Your Home Today

Chances are we’re going to have to continue spending a lot of our time in our homes. Make sure you enjoy being at home by refreshing your home with renovations sooner rather than later!

ARTICLE WRITTED BY:

TINA MARTIN

Guest Blogger