When it comes to home improvements, Americans have generally adopted an attitude of ‘work with what you’ve got.’ In today’s frantic real estate market, it makes sense that homeowners would rather create their dream home with renovations and remodeling services instead of selling and trying to find something better. This explains why home improvement projects have been on the rise as homeowners become more invested in creating the perfect environment without having to sell their homes and move. Read on to find out how exactly Americans are using home improvements to their advantage instead of purchasing a new home.
Using Home Improvements to Boost Energy Efficiency
Improving home energy efficiency means you can save a lot of money down the line by reducing your energy bills. This is a popular home improvement for people that also want to reduce their carbon footprint. Rather than buy a home that’s already energy-efficient, you can utilize various improvement projects.
For instance, you can upgrade your hot water heater to a more energy-efficient one. According to experts, heating your water takes up about 17% of your energy consumption needs. But this number can increase significantly if your hot water heater is old and inefficient. Other home improvement projects that reduce your bills include solar panel installation. The technology behind solar panels has improved considerably, allowing you to save a lot of money in the long run. Similarly, the technology behind energy-efficient windows, roofs, and doors has also improved. This results in better heating, cooling, and lighting, which increases your home’s comfort level.
Using Home Improvements to Modernize Homes
Buying a new home can be expensive, especially with the housing market being what it is. So, instead of living in aging homes, it’s now possible to leverage home improvement projects to create a more modern home.
Regardless of your budget, you can find one, two, or more renovation projects that help to spruce up your home’s appearance. One smaller project includes refreshing your home with paint. This will instantly give your home a whole new look without it costing an arm and a leg. Other projects that are being utilized to achieve the same results include upgrading the crown molding, kitchen cabinets, floors, and bathroom fixtures. If you also have appliances with obsolete technology, then you can easily remedy it with the right kitchen renovations.
Homeowners can even upgrade the exterior with affordable but modern siding options. For instance, according to estimates made by experts, installing vinyl siding on a single-story, 1,800 sq. ft home only costs approximately $4,509. Generally, you can pay anywhere from $1 up to $8 per square foot, depending on the material used. All things considered, home improvement projects are great for converting older homes into modern ones when used the right way.
Using Home Improvements to Create More Space
Having a smaller home can be frustrating, and sometimes it can force you to buy a larger home. Fortunately, there are many home improvements homeowners are utilizing to create more space in the home without breaking the bank. So, when you need more space, the solution may be to finish your basement instead of buying a larger home. According to experts on the matter, buying a larger home is 80% more expensive than finishing your basement, so it’s not difficult to see which option is more appealing.
Besides finishing the basement, homeowners can also utilize other projects like adding a second story, putting a roof over the garage, and finishing the attic. All these projects help to increase the square footage of your home, so you can have additional space without resorting to buying a new house. By choosing the right home improvement projects, homeowners can make their homes more energy-efficient, modern, spacious, and more.