First let’s define what a house is.
A house is a structure that one resides in right? It’s not that simple, actually it is so much more. Let’s face it we spend a majority of time either at work or at home. Our homes are our sanctuaries and our escapes, our own personal space.
A house becomes a home the day we move ourselves and/or our families into it. It will be the place where we not simply exist but experience a lot life has to offer. It is where we share meals, stories, moments with friends and extended family, holidays, and experiences like first walks, first words, first dates, recoveries and victories.
A house is also an investment. It can be an end to a means for retirement, future investments in college, other homes, rental property, recreation, and all the activities we choose to participate in our lives. You don’t simply invest in it once and expect to retain its value or increase its value. It’s no different than a 401K or any other investment it requires re-investment and maintenance.
A house is a place where you exist in the world. It is a structure that interacts with the environment. It moves, breathes, expands, contracts, and changes daily with what Mother Nature doles out. It also handles what we as people throw at it. It handles our abuse and lifestyles. It absorbs or daily use and wear and tear.
A house is the largest investment most people make at one time. You might end up with more in your retirement but this is done over years and decades. A house is one of the largest purchases a person/family makes at one given time and usually the largest check they write each month.
So why would you want to renovate? Why take that great structure that takes care of and tear it apart and put it back together?
1) 1) They can lose value in the wake of newer and updated trends and style. In our fast paced world styles and tends are updated faster than before, what was a decades long style like the 70’s and 80’s can last only a year and radically change.
2) 2)Your growing family and/or needs of the home can change. This functionality change could be kids growing up., adding a child, taking care of mom, getting ready to be empty nesters, getting married, etc. creating new spaces or building new can solve these problems when the house you originally purchased no longer serves your current purposes. At this point it is either time to build new or transform your existing space to its new space.
3) 3) Houses get outdated and can lose not only their functionality but their enjoyment as a home owner. If it does not feel like your space anymore and your sanctuary, then it’s time to transform it to suit your desires and dreams. We should be excited to be in our homes and if we are not we are not truly enjoying the potential this can offer to us and our families.
When thinking of remodeling or renovating, ask yourself questions about the above and couple this with your expected time frame you plan to be in the home to determine how extensive you need to go and what if anything do you need to do. Is it time for a full renovation, small remodeling, simple updates, or maintenance to protect the structure.