by: Dan Noyes
The need for home remodeling is on the rise as many people like the neighborhood they live in and the affordability of their existing homes. By incurring a little cost they can remodel their old houses to increase space and add new amenities. The need for remodeling is detailed below.
Financial gains
While home remodeling can be an expensive affair, it is reasonable as compared to purchasing a new house. Shifting into a new house incurs costs in the form of moving expenses, closing costs and the agent's commission, which is saved here. Remodeling adds equity and capital gains can be deferred till the property is sold. In addition, tax laws make remodeling more attractive to the investor by limiting the tax write-offs allowed on new investment property.
Convenience
Besides the cost, even the inconvenience of shifting into a new neighborhood is removed. Often families are adjusted to the comfort of staying in a familiar neighborhood, which is well connected to facilities. Home remodeling provides the comforts of a new modern home in the same space.
Impressions
Most people form impressions about you and your home in the first 5 minutes of being there. To create a look of class and a feeling of warmth, home remodeling is a must. Home remodeling not just creates a good impression for the visitors; it creates a good feel and increases the equity of your house to potential buyers also.
Space
It is understood that the need for space has increased from 1400 to 1500 sq. ft in the last century to over 2000 sq. ft today. While changing into a new house can be expensive, remodeling the house helps increase space within budget. A minor change in the layout can help enhance space and increase place for extra cabinets, storage space and shelves.
Utilities
With the change in times, needs have evolved too. Today families cook together in kitchens, and thus storage space, appliance counters, separate countertops etc. are required. Luxury baths and walk-in closets have also become a norm. These evolving needs can only be answered by remodeling the house to modern tastes. Home remodeling allows homeowners to enjoy the comfort of their old home with amenities like better lighting, modern appliances and more storage space. It allows homeowners to enhance function, safety and quality of their interior spaces.