With the real estate market moving fast in the U.S. since the beginning of the global pandemic, many people are buying and selling homes. As a homeowner, even one who isn’t making big changes, there’s a lot to think about when it comes to spending money to update things like your HVAC system, roof, insulation, basement, crawl spaces, floor joists, and attic. Not all homeowners are the same. Where one might be concerned with saving on the energy bill, another could be more invested in proper attic insulation or having the right number of baths in the home.
If you’re not sure how often or even whether or not you should upgrade your home, read on for some life milestones and circumstances that generally call for a second look at renovations on old or newer homes.
Updating to Sell
Living space, fiberglass insulation, heat flow, air leaks, energy loss, moldy rafters, radiant barriers… There’s a lot to think about when considering selling your home. In this current booming market, most people are making the decision to upgrade before or after the sale of a home. For sellers, it’s common to update major systems to add value to a home. Buyers tend to upgrade to make a home better suited to their personal needs. If you’re upgrading because you’re hoping to sell your home to make the most of a seller’s market, it’s a good idea to look into private money lending to finance any major repairs or upgrades. While taking a construction, repair, or energy efficiency upgrade loan may seem like a big decision, the value you can add to your home at the last minute could pay off.
If you’re not sure if you should upgrade your home before putting it on the market in the U.S., be sure to ask a real estate professional about the pros and cons of attending to heat loss, leaks, and major and minor repairs before making your decision. You might find that replacing existing insulation in an old home isn’t worth the cost. On the flip side, you could learn that attending to that heating or thermostat issue now will pay off when it comes to selling your house to someone new.
Making Change to Save Money
If buying or selling your home isn’t in the cards for you, upgrading your home to make it more energy-efficient could save you bundles on heating bills. If you’re looking to save on expenses, the first thing you’ll need to do is determine whether or not you have sufficient insulation in your home from a fantastic place like Derryberry’s Heat & Air. Getting better insulation into problem areas could add up to big savings. Even replacing old appliances with those that use less energy consumption is a great way to save yourself on monthly expenses.
Keeping Up with the Neighbors
It can be tempting for people who live in developments or gated communities to feel like they need to keep up with their neighbors. If you’re feeling pressured to upgrade your home by an HOA or neighbors, it could be a good idea to consider your home’s basic curb appeal. Over time, it’s easy for the outside of your home to deteriorate, and something as simple as a paint job could add up to feeling proud of your home.
Changes to Suit Your Phase of Life
Whether you’re an empty nester looking to downsize or find new uses for your spaces, it’s a good idea to consider an upgrade. For many people, calling on a professional installer for an accessible bathroom or to close off attic ventilation is the way to go. As you move into retirement, taking a look at every part of your home is a good idea. The truth is that you might not use the top of the house the way you once did when raising kids or that you’ll have different needs for your space. The same way you access the energy efficiency of your home, it’s a good idea to assess how you’re utilizing space.
At the end of the day, whether you decide to update your home’s insulation and ventilation system every ten years or choose to focus entirely on preventative maintenance, the decision on how to care for your home is entirely up to you. When weighing the pros and cons of updating your home, be sure to trust your instincts and remember that your home is likely not only your biggest investment but a safe haven, too.
