Whether you’re preparing your home for listing it up for sale or to spice things up, two words may come up in your mind: remodel and renovate. These words can usually be heard in interior design, construction, and real estate. It may confuse some property owners when choosing which is right for their home.
Both processes are very different and are interchangeable, but this will depend on the type of work needed to be completed. We’ll break down for you the difference between remodeling and renovation and which between the two is perfect for your home.
Difference Between Remodel vs. Renovation
Remodeling means to change the structure or form of something. Therefore, when you are remodeling your home or a part of it, it means changing or updating its appearance or function. This may include demolition or construction.
Renovation is about restoring into good condition. Reviving, make it new, or as if it is new again. It can mean anything from repainting, installing new lights, adding finishes, removing popcorn ceilings, and more. The design of the home or room is not drastically altered but rather revised or updated to a new standard. When changes are that big when renovation, don't hesitate to find the right team that will help you renovate your Austin home.
If your house is a little outdated, renovating can give it a fresher look by adding new pieces of furniture or repainting the walls. Remodeling is about updating your home’s functionality, such as tearing down the walls to add more space for your living room for a lanai.
Between remodeling and renovation, remodeling in Austin or any part of the country will definitely cost more since this is more complex due to plumbing to electric expenses. This is all about changing the functions or transforming the look of your space. Home equity loans and home equity lines of credit can be smart ways to cover the costs of home improvements. The right choice depends on how predictable your costs are and the type of payment for which you’re looking.
When to Renovate the Home
Reviving the home is likely to cost far less than an intensive remodeling job. Making the home look new again is appealing, but it doesn’t have to blow the budget. Unless major changes to the home’s layout are essential or the structure itself needs intensive repair, a renovation is often the best—and more cost-efficient—option. Owners intending to flip or sell a home soon will get a greater ROI by renovating.
Making small changes such as lighting fixtures, paint, cabinet refacing, minor kitchen and bathroom updates, or new faucets are fairly simple changes that are smart renovations. Not only do they improve the attractiveness, but these installations can make life at home a bit simpler. Those looking to simply make their home reflect their personal style and more comfortable should give renovation efforts serious consideration before discussing remodeling.
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When to Consider Residential Remodeling
Remodeling the home should be considered in situations where the dwelling is poorly laid out to suit the family’s needs. Of course, this route is best only considered if the current owners plan to live in the house for many years to come. After all, buyers have their own vision and might disagree with the new design that the occupants customize.
When a renovation simply cannot solve a major hindrance, remodeling may be the only option. This can be especially true in older homes where building codes are not up to par or if an open home floor plan is desired. Other situations may involve cases where appliances poorly fit an existing kitchen or are too far apart for optimal functionality. If homeowners can invest extra money, long-term owners might do well remodeling certain areas.
What Projects Require Pros Versus DIY?
When deciding between remodeling versus renovations, it’s necessary to be mindful of what projects can be a DIY job and what projects are imperative to seek professionals to handle. Even those with minimal handy skills and basic tools can achieve many tasks like painting, changing out faucets, and minor tasks. However, anything that requires a permit or could result in a disastrous situation like electrical, major plumbing, heating and cooling installations, or restructuring walls are often best left to the professionals.
Buying or Selling for Remodeled and Renovated Homes
If you are choosing between remodeling or renovating your homes, don’t forget about other options such as selling your home or buying a new one. If you think that the cost, labor, or emotional strain can seem too much for you to handle, it might be the time to purchase a new home. At the same time, homes that are recently renovated or remodeled before selling have a higher chance to receive a better ROI, especially if you are remodeling an Austin investment property.
Here at Spyglass Realty, we offer complimentary staging and renovation services to our sellers. And if you are looking into buying, selling, or selling while buying a home? Speak to one of our consultants now about buying or selling homes in Austin.
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