Resources for remodelers
People looking to improve their homes depend on remodelers to not only guide them through the renovation process, but also contribute to the value of their house in a practical way. In the blog post below, we go over two ways remodelers can help their clients make the correct renovation decisions for right now and when it comes time to sell their home.
But that’s not the only insight we have to offer. Whether you’re an established remodeler or just getting started in this industry, check out these other helpful resources for your business:
How to grow your remodeling business
Marketing 101 for remodelers
How to write a business plan
At the beginning of the year, industry trends and trade publications suggested that homeowners would continue to look to turn their houses into a place of refuge. This meant bigger spaces to accommodate children moving back home and warmer colors to enhance feelings of comfort and security.
While there were hints that smaller budgeted projects using less costly materials would be appealing to consumers, few predicted how much inflation and the financial impact of the pandemic would be driving renovation and remodeling decisions. With inflation settling down and the real estate market finally rebounding after a downturn, considerations for home and property value have become a deciding factor when it comes to home improvements.
This puts the onus on interior designers to not only continue making dream spaces a reality, but also contribute to the overall value of the home they’re renovating. In the current environment, presenting beautiful renderings to a client isn’t enough. To close more deals, designers should be prepared to talk in practical terms about how their designs will increase listing prices if and when their clients decide to put a house on the market.
At the same time, it’s important designers remind clients that putting $20,000 into a renovation won’t necessarily mean a $20,000 increase in their home value. Installing skylights, pools and asphalt driveways may seem like the type of cosmetic changes that would increase curb appeal, but these additions offer some of the lowest return on investment when it comes to house value. Instead, real estate appraisal authorities across North America agree that the recovery rate for kitchen and bathroom remodels are the highest, between 75 and 100 percent.
How to get the biggest bang for your buck in the bathroom
While there’s no simple list of bathroom fixes that maximize value, it’s not overly complicated either. Designers should simply identify the least up-to-date elements in the bathroom and then – you guessed it – update it. Outdated vanities, old plumbing, dated light fixtures and scummy tile floors are among the most common culprits and also the most easily addressed fixes.
A designer might also spend some time learning how long their client envisions staying in their current home. This will help determine the balance between aesthetics and comfort. For instance, if the client is updating the bathroom strictly as a means of increasing value for near-future sale, make the bathroom as on trend and modern – lots of textures, wooden vanity, splashes of green coloring, open shelves, etc. – as possible. If they see themselves staying in their current home for a few more years but simply want to contribute to the value of the house in the meantime, perhaps a more classic look with practical elements – whites, porcelain tub, ceramic tiles, etc. - would make sense.
How to land the best return on investment in the kitchen
Similar to the bathroom, a kitchen’s outdated elements should be addressed first to maximize the value of a renovation. It will come as no surprise to kitchen designers that upgrading cabinets, installing new flooring and replacing sinks and faucets are among the most common ways of increasing a future listing price.
Once again, the specific client’s plan for the house should determine the style. A modern kitchen will include earth tones, use a mix of different metals and maybe have a hidden appliance or two. If a more practical, classic approach is needed, consider opens shelves and nice, clean tiling.
One aspect of kitchen design in which a lot of value can be gained is in appliances. Not only is the trend toward electric and environmentally friendly appliances going to make it easy to update older stoves and refrigerators, it might also offer a rebate for the current homeowner. Make sure to check local government initiatives and federal tax rebates in your area to see if the cost of new appliances can be further reduced for a value-seeking client.
2020 Design Live
Overall, the best way to help a client increase the value of their house through renovations is to focus on the kitchen and bathroom. Whether you want to deliver the trendiest kitchen designs – filled with copper slab backsplashes and secret butler’s pantries – or a traditional bathroom with an updated vanity that will still be in style in five years, 2020 Design Live is not only built specifically for kitchen and bathroom designers, but it also has the largest collection of manufacturer catalogs in the industry. That means unparalleled accuracy in terms of availability and pricing, as well as easy access to the updated products that are going to people the return they want with their renovation.
No other software solution is better equipped to help designers close more deals and win more sales by giving consumers exactly what they’re looking for. To experience all that 2020 Design Live has to offer, try our 30-day free trial now.
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