If you are thinking about completely remodeling your home, but your budget is pretty small, you may want to think about refreshing it instead. There are some definite benefits to both types of home renewal, but there are some downsides as well. Let’s take a closer look at both types of renovation and see what you can expect.
Refreshing
Pros – This is a very cheap alternative to completely remodeling your home. It will allow you to retain certain features such as built-ins or other permanent fixtures in your home. With the right techniques, refreshing can be done in as little as a week and often gives similar results.
This is perfect for homeowners that need to sell their properties quickly and do not have the time to do a complete remodel. You can essentially make the home look almost brand new and you won’t have to worry about it taking months to get to completion. This is also a good alternative for those who prefer to do the work on their own, but may not have the time to dedicate to a complete remodel.
The main benefit is of course the price. Refreshing a home will cost thousands less than a remodel, and can produce almost comparable results in many cases.
Cons – The biggest con for refreshing is that you are not really addressing problem areas in the home. For example, you are not replacing older appliances that may be past their prime, nor are you fixing issues regarding flow, fixtures that no longer work or areas that are completely rundown. Basically, refreshing is best for homes that still have a lot of life in them and only need cosmetic assistance.
Remodeling
Pros – Remodeling your home can greatly increase its overall value. This is vital if you are trying to recoup equity in your home or sell it in a down market. The results are usually more dramatic and can make the entire home feel like new. Problem areas can be addressed and newer features can be added that will make the home more workable.
If you have been considering moving, but aren’t really committed to it, remodeling your home can make it feel brand new. Whether you are creating larger rooms, making your kitchen more functional or just improving the existing space, remodeling is usually the best answer.
Remodeling may be necessary in many cases, especially if a home is severely dilapidated to the point where refreshing will not help.
Cons – The cost of remodeling makes it prohibitive for many homeowners. It can easily run into the tens of thousands, especially if your home needs a lot of help. This may require a home improvement loan, which can eat into your home’s equity.
Another major obstacle is the fact that a remodel can take months to complete. If you are remodeling areas such as the kitchen or bedrooms, this can significantly impact the way you live for a long period of time. You may need to stay in a hotel or with friends, and costs can really mount up over time.
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Originally posted 2008-09-23 05:17:04. Republished by Old Post Promoter
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