When you undertake a home renovation (especially a large and expensive one), you’re investing in the future of your home. Most people will tell you to stick to classic, timeless designs with a proven track record of increasing property values—and this is generally good advice. The last thing you want is to spend thousands on a renovation that looks dated within a few years. Some renovations can even send your property value in the wrong direction over the long term.
However, there are some trends today that are worth paying attention to. Where is the smart renovation money going in 2016? What are other homeowners doing to stretch their investments further, enhance the enjoyment of their homes, and increase value all at the same time?
Let’s take a look at some of the most popular home renovations for 2016 and see for ourselves.
We’ve been seeing this trend for some time now—which is a strong sign that it’s not going anywhere. Home renovations and new homes alike have moved in the direction of open floor plans, eliminating unused rooms and cramped hallways in favor of sprawling, multi-functional spaces. Dividers and sliding doors can be used to hide or reveal different areas, allowing interiors to be reconfigured as needed.
Note: It’s important to proceed with caution. Eliminating bedroom in favor of a more open floor plan can have significant effects on the value of your home, depending on variables such as the average number of bedrooms in your neighborhood.
Many homeowners are beginning to feel that the outdoor areas around their homes are underutilized. What are they doing about it? Building patios, outdoor kitchens, fireplaces and other spa-like features to increase the enjoyment of the great outdoors. As to whether this is a good investment for you, the local climate is obviously a major determining factor. If those outdoor spaces are essentially unusable six months out of the year, you may not find it worth the money.
Heading to the Office
More Americans are working from home at least one or two days a week, and with the rise of tablets and smart phones, statistics show that dedicated TV parlors are in decline. Many people find that a versatile, comfortable office space is one of the most frequently used spaces in the home for both adults and kids—so they’re opting for larger, multi-functional workspaces instead of cramped offices or dedicated TV rooms.
And that’s just the start…
Smart home renovation is always a balance between your own tastes, proven designs, and your short and long-term goals as a homeowner. There are some interesting trends on the horizon. Some of them may prove to be timeless in their own right, and some may not. One thing’s for sure—doing your homework, talking to friends, and consulting a home renovation specialist will bring you closer to finding a renovation that will benefit both you and your property value in years to come.
Thanks for reading, and please feel free to share your thoughts in the space below.