Homeowners decide to renovate their homes for a variety of reasons. Whether it’s a new kitchen they’ve had their eye on, or an upgrade to their fixer-upper, homeowners seem to have an irresistible urge to improve the quality of their homes.
We sat down with John Settles, a Senior Loan Officer here at First Heritage Mortgage, to find out why homeowners decide to renovate.
5 reasons why people choose to renovate
1. They need more space.
It’s hard to put a price on comfort. Maybe they’ve outgrown their current accommodations, or they are making room for a growing family, many people choose to renovate their home for increased space.
2. It’s time for a new kitchen or bathroom.
Maybe it was the old cabinets in the kitchen or the outdated tile in the bathroom, but eventually, many homeowners decide it’s time for a change. Given that kitchens and bathrooms are the most common home renovation, it’s no surprise that these two rooms make the list.
3. Complete an unfinished basement.
Exposed concrete and joists aren’t always the most attractive feature. For many homeowners, placing the finishing touch on their basement is just what their home needs.
4. Their home is a fixer-upper.
Many homeowners decided that, despite its appearance, their future home had a certain charm that they couldn’t resist. When they decide the timing is right, they pick a project and start to begin to renovate.
5. Certain rooms need to be larger.
Need more closet space for your new wardrobe? Is the master bedroom just a touch too small? Many homeowners decide that select rooms in their home need to be larger. If they purchased an older home that may have smaller rooms, or they decide their master bathroom needs more space, they choose to renovate.
Do you want to make your home more modern? Are you looking to increase the value of your property? The number of reasons why homeowners choose to renovate are countless and may range from fixing safety issues to making their home more efficient.
It may be a small addition to a closet or a whole house renovation, but when homeowners decide it’s time for a change they turn to a lender to help make their dream project come true.
Do you have questions about a renovation project? Please reach out to one of our qualified mortgage experts to learn more.