Why Making (or Planning) Home Renovations Might Actually Be a Good Idea Right Now

While the last few months have been unprecedented and filled with uncertainty, they have also shown and taught us one very important lesson: our homes are our sanctuaries. It’s also possible, as a homeowner, that while you’ve been home you’ve noticed some needed updates given the added amount of time spent at home. While uncertainty doesn’t always make for homeowners wanting to make investments, now actually might be the best time for those who are able, to make the improvements they’ve been planning. Here’s why.

Time to Plan

Not only will you have more time to plan, but you’ll also give your contractors and suppliers a lot more time to design your project, get your order in, and make sure every detail is exactly as you envision it. The bigger your renovation project, the more important it is you set aside and take more time to plan to be sure you get exactly what you’re dreaming of.

In addition, so long as you’re in the position to do so, you’ll also be able to take advantage of the more available schedules of contractors at the moment. It’s no secret that the current state has affected nearly every business and contractors are no exception. Their more open schedules will allow you to plan your project on a timeframe that may not have been possible a few months ago (especially given that summer is construction's busy season).

With this added benefit it will be important to note that businesses may have extra regulations currently and may not be able to offer completely full services or they may be taking extra precautions within their offices and showrooms in order to protect their employees and customers.

Budgeting and Financing

It goes without saying that any home renovation is an investment. However, if your family is in the position where you’re able to consider home renovations during this uncertain time, you might find some good promotions going on in terms of financing. In addition, you’ll have more time (as mentioned above) to save and budget for your project. What better way to reward yourself for not going out to eat during the week than renovating your patio?

Investments that Pay Off

While, as we mentioned above, many businesses and contractors are taking extra precautions in order to protect their customers and employers, this also means that many contractors and installers are going to be far more likely to want to take renovation jobs and projects that are outdoors verses indoors given it helps with the recommended health precautions.

This can be a benefit for homeowners looking to renovate, as outdoor projects tend to yield better return on investments as it upgrades your home's curb appeal. Siding, windows, roofs and decks are some of the projects with the best return on investment, all of which are primarily outdoor projects, with kitchen and bath renovations also being great for return on investment as well.

Little Projects that Have High ROI

Even if you’re not quite ready or don’t have the certainty that has you wanting to undertake a massive home renovation, it can still be a good time for small home renovations. Look for little renovations that have a high return on investment such as painting the outside of your home, landscaping, or replacing a window, door, or patio door that is energy inefficient. Not only will these benefit the value of your home should you ever sell, but they can also improve your energy bill in the meantime as well.

Regardless of which home improvement project you’re looking to undertake, from landscaping to completely replacing your siding and windows, it’s important, now more than ever, to have a home you want to spend time in. Creating your own sanctuary will pay off in the long term, and will make you and your family that much happier in the short term!