A few years ago, the National Association for the Remodeling Industry (NARI) conducted a poll to assess consumers' readiness for major renovations, and at the time they found that people were delaying expensive jobs in favor of "must do" projects. Instead of paying with credit, they were saving their pennies and planning to pay cash for larger renovations down the road. Such was the mood of the country between 2009 and 2013, but then something started changing. Now, despite ongoing economic worries in some parts of the country, the overall feeling about renovating is getting more positive.
As a result of the changing economy, projects which were considered too pricey have become doable for many American homeowners. Below are five of the top remodeling projects for 2014:
Vinyl or Fiber Cement Siding – Are you ready to give Colorado Springs a brand new look? Then new siding might be the best way to spend your home improvement dollars. But don't rush into it; hiring the right team of professional siding contractors is crucial to your satisfaction with the job. Give yourself enough time to do the research and choose the right materials and installers and you will have the confidence you need to move forward. Ultimately, you will want to hire a contractor who guarantees their work and offers repair and replacement services in addition to the installation. Look for a company that has been in business for many years and has a strong reputation in the area.
Build a deck – Instead of moving to a larger home, many families are blooming where they're planted by adding enhanced outdoor spaces. Even in areas where sitting outside isn't possible all year-round, elaborate outdoor decks, pools and cabanas are making the home more "resort-like" than ever. In addition to its natural aesthetic appeal, one of the best benefits of a new deck is how it naturally increases the value of your home. According to experts, you can easily recoup up to 72 percent of the cost of building the deck by the amount it will raise the overall property value of your house. This exceeds what can be gained from other home additions, including adding a living room, sun room, or even an extra bathroom.
Replacement windows – Is your home in need of new windows? This is more than just a question of aesthetics and resale value; it is also about your energy costs. With heating and air-conditioning adding so much to the cost of being a homeowner, it makes sense to look at replacement windows as an important investment in energy efficiency. In a climate like Colorado Springs, new windows represent a tremendous savings all year round. That said, it's important to use a reputable window installer who can educate you on replacement windows. With so many brands on the market today and hundreds of options to choose from, the number of decisions can be mind boggling.
Bathroom remodeling – While this might not seem quite as exciting as a new kitchen, a nice bathroom goes a long way toward adding resale value to your home; and the best part is it can be done at any time of the year in a way that matches any size budget. So if your vanity is chipped or your tile is getting a little grungy, and you need an update on fixtures tackle the bathrooms first and make this your wintertime project.
Repurpose a room - Need a new space to "chill" now that the kids have grown up? With home prices still below homeowners' expectation and a weak real estate recovery at best, empty nesters are repurposing basements, bedrooms and studies into exercise rooms, offices, music rooms and studios. Younger couples are creating that Zen-like "tranquility room" by decorating with minimal furnishings, neutral tones and organic fabrics. Others might be knocking down walls to increase closet space, adding a sauna or steam shower to the master bathroom, or repurposing a bedroom into a hobby area. Think about what you need to decompress after a stressful day and the renovation ideas will follow.
No matter how you are approaching your home remodeling projects this year, it never hurts to find out about the latest trends. Flip through some design magazines; ask your neighbor, your realtor or your favorite Colorado Springs contractor what they recommend. Before long you will see many of these home remodeling trends all around you.