Necessity is one factor driving the Home Improvement Building Boom according to NPR. Bielefield Construction Inc. has been your Go-To Home Improvement Provider in Sonoma County for several years. Home Improvement spending has been increasing for some time and U.S. homeowners are spending this year than ever; some say it’s up 50% over last year. Between Covid and the increase in “working from home” situations, more and more are adding office space for work as well as play space for the kids so the parents can work more efficiently. One of the largest surges in home improvement has been in the areas of outside living space. Deck and Fence improvements, installation or repairs has seen over a 200% increase. What used to be a backyard has become a good weather oasis and with pergolas and coverings, even a bad weather oasis. Home Depot sales for the second quarter of this year were up over 23% over last year.
Harvard University states that Americans spend more than $400 billion a year on residential renovations and repairs. They cite things such as the growing interest in energy-efficient products, healthy homes, and “smart home” technologies. Whether you’re looking to increase the property value of your home ahead of a sale or closing on a house you can’t wait to make your own, chances are there’s a renovation or remodeling project in your future.
This means you’ll have a lot of things to consider, not least among them how to find a contractor, how to mitigate costs, and, no less important, how to translate your ideas into reality. Bielefield Construction Inc. is here to help. We will bring you a plethora of home remodeling ideas for every room, including advice from our experts, checklists to help you get started. According to the 35th annual Cost vs. Value report, improvement projects that are on the exterior of the house continue to provide the greatest return on investment (ROI) to homeowners. At the top is the replacement of the garage door, new siding including manufactured stone veneer as an exterior accent, and windows. The highest ROI for interiors is the minor kitchen remodel—a modest kitchen face-lift that offers a relatively high return when done prior to the sale of a house.
Four Benefits Of A Home Renovation or Remodel
- The Quality of Life In Your Home:
If you’re feeling cramped or your home feels cluttered because of the way it’s designed, it can really make you feel uncomfortable and even add stress to you and your family. Renovating your home and creating a more relaxing environment can impact many aspects of family life both physical and emotional. If you like to entertain but your home doesn’t facilitate that activity, it may be time to contact Bielefield Construction Inc. and take advantage of our Consultation Services.
- A Reduction Of Utility Costs:
As utility costs continue to rise, saving money by upgrading your home with energy efficient appliances can result in a sizable reduction in the bottom line of running your household. Even things like better insulation and upgrading your windows can make a surprising difference in your family budget.
If this idea appeals to you then focus on renovations that will really make the most sense when it comes to saving on energy. Think about what will help you use less electricity, less heat, or less air conditioning and start with upgrading those things. Saving some money and being more energy efficient in your home will be worth the effort.
- It Can Actually Save You Money:
Postponing needed repairs is never a good money saving strategy. Those repairs only increase in severity and eventually come with increased costs. Sometimes, though it may seem counter intuitive, rolling the repairs into a Remodel is more cost affective than trying to get by with the minimal repair. Additionally, one can often save money in the long run by using quality materials and skilled labor to do the Renovation or Remodel will save you money down the road.
- It Can Increase Your Home’s Value
When it comes to resale value home upgrades can be a huge factor in being able to increase the asking price of your home. Many underestimate what a home renovation can do in terms of adding value to your home. Even if you don’t have current plans to sell your home this is still something to consider when deciding if you should take on a renovation project.
Anything from a small thing like updating a few things in your bathroom to a huge upgrade to your entire kitchen can count towards increasing the value of your home. You may even consider the added value an outdoor kitchen would make to your property.
It’s no secret that finishing your basement will increase your home’s value. What you may not know is the money you spend on this type of home improvement could also help lower your tax bill when you sell your house. A new roof may be the least favorite thing on your to-do list but putting it off could make a significant difference in the value of your assets. And another point needs to be considered as well. Tax rules let you add capital improvement expenses to the cost basis of your home. Why is that a big deal? Because a higher cost basis lowers the total profit — capital gain, in IRS-speak — that in some cases you may be required to pay taxes on. In other words, you might have a tax benefit [MOU1] coming. Here’s how to know what home improvements can pay off at tax time.
Give Bielefield Construction Inc. a chance to join you in your project at the beginning so you can realize for value at its completion. Contact Us today.