There are so many benefits to investing some money into improving your home. Many homeowners know this, which is evident from the high numbers of people who renovate and remodel their homes each year. This has led to the home improvement industry witnessing significant growth. According to Business Insider, in 2020, the worldwide home improvement market was valued at $763 billion. If you’ve looked into home improvement before, you probably have seen terms like remodeling and residential renovations. Do you know the difference between the two? Here are a few to note.
Renovation Projects
Residential renovations involve projects that are aimed at making your home feel new again. Renovation covers a variety of things. This includes the repair and installation of new fixtures and refacing your cabinets, but there are many other projects a home contracting team can handle. No matter what type of work a renovation project encompasses, the original design is generally maintained. For instance, a kitchen remains a kitchen, and an office remains an office, where a remodeling project often switches or demolishes rooms.
Remodeling Projects
Remodeling, as you might have imagined from the name, involves a lot of change. When you remodel your home, you alter its structure, layout, and purpose. For instance, you can turn your basement into a bedroom, or you can change a primary bedroom into a children’s playroom. One of the most common remodeling projects is first-floor remodeling. This usually involves the removal of walls to create more space and more drastic changes like changing the position and size of the main entrance. You might even consider adding a living space downstairs for elderly members of your family.
Return on Investment
Remodeling and renovations have one thing in common – a great return on investment! This is why remodeling or renovating is a great step to take when you’re looking to get your house on the market. Older homes might be better candidates for remodeling, while newer homes probably only require renovations. Whatever the case, ask your contractor for their opinion on your home before getting started.
These are some of the differences between remodeling and residential renovations. Both are quite beneficial. All you need to do is look at your budget and see which solution suits your situation. Get in touch with us at McBride Remodeling today if you need help choosing between remodeling and renovating your Northern Michigan home.
