For most, the new year is a time to change life for the better. To focus on things like a new diet to lose weight or purchase a gym membership that never actually gets used and eventually becomes a pain to get rid of. Make plans to travel to exotic destinations or focus on major upcoming life events like a wedding or graduation. But oftentimes, many skip what is most obvious for a change… one’s own home.
To help celebrate our 20 years in business, we have put together a recommendation. Don’t only focus on the bigger events this year. But, take this year and focus on the bigger picture - a new year, a new home, a new you. And if you’re still stuck on creating your 2024 new year's resolutions, this blog is for you. But before you continue on, perhaps take a moment to read our previous blog, New Year's Resolution vs. Commitment.
Now when reading our recommendation, your first thought might have been that we want you to go into a brand new home. While we do recommend a new home, we’re specifically talking about creating a new home out of the bones of your current one. We are a home remodeling company afterall!
As we’ve all experienced, the housing market in 2023 was one for the books - and not in a good way. Housing prices have skyrocketed and mortgage interest rates are creeping upwards. Purchasing a home has become much more difficult now than in previous years. Forbes recently released an article forecasting the housing market in 2024. And while interest rates will ease, the cost for homes may likely increase. So, what options do you have? If you’re a current homeowner and have a hankering for a new home, we say stay and renovate.
Why? Because you’re likely sitting on an investment that will only ride the current rise in housing equity. Not only that, the cost to remodel your home compared to the cost of purchasing a new home may actually save you money while offering a higher return on your investment. That’s a WIN! There’s also something profoundly poetic about creating something new out of something old. Learning to love the home you’re in by working with a contractor who can not only bring your vision to life, but can renew your home in unimaginable ways, is key to achieving a new home feel.
There are many benefits to remodeling your home versus purchasing new. Some include:
Due to home values rising, most homeowners are sitting on large sums of equity within their homes.
Increase the home’s value, particularly when renovating spaces with running water. Take a look at our past blog on 7 Home Remodeling Projects That Add the Most Value to better understand your return on investment.
Save on moving costs.
Much cheaper than buying a new home.
Take advantage of energy credits reducing financial commitments elsewhere.
You get to determine the layout and function of your home.
You have the luxury of customizing your home based on personal preferences.
You can choose your materials allowing for more eco-friendly building materials.
A few years ago we put together a list of the Top 5 Reasons Ken-Caryl Homeowners Are Remodeling (Renewing) Their Homes. These came at a time when the housing market was much more lucrative, but they mirror each other nonetheless.
Elevate the comfort and enjoyment of their home
Upgrade The Overall Function Of Their Home
Increase The Value Of Their Home
Fix A Safety Issue Or To Prepare Their Home For A Sale
Need help with understanding the financial commitment when remodeling your home? Look no further than our previous blog on Creative Financing for Home Remodeling.
At Maverick Home Remodeling, Inc., we pride ourselves on our dedication to renewing lives by renewing homes. Our company is built by dedicated and experienced owner-operators, employees and specialty subcontractors all working together to bring remodeling ideas to life.
We are thrilled to be celebrating 20 years in business this year. We’ve helped homeowners throughout the Metro Denver area renew kitchens, bathrooms, basements, fireplaces, staircases, whole homes and more.
If you’d like to visit some of our favorite remodels, click here! Or gain inspiration from our Project Gallery.
As we wait to see where the housing market goes, consider investing in the home you already have. If you’re ready to take charge of this new year by focusing on renewing your home, then we’re ready to help. Click below to get in touch!
