It’s often hard to keep up with the most popular home upgrades as they seem to change year to year, however there are a few home upgrades that are timeless and can even boost the value of your home. With so many people now working remotely or spending more time at home, it has definitely changed the way we live in our house and our upgrades and updates might reflect that. If you’re looking to remodel, refurbish, update or upgrade your home this year, or perhaps you’re considering selling your home, here are some of the most popular home upgrades for 2023.
Full on, whole home renovations.
Yep! Some people are doing a full-on, entire home renovation. Perhaps you have a home that was built in the 1950s or 1960s and while you may have pieced together some different upgrades over the years, now it’s time to completely remodel the entire thing. It’s amazing how much you don’t notice about your home when you’re stuck in it day in and day out. A lot of people are actually starting at the front door and fully remodeling most or all of the rooms in the house. Of course, this is a very expensive project but if you’re planning on selling, it can really add tremendous value to your property.
One of the best ways to tackle this is either with a cash-out refinance or a home equity line of credit. Because you are borrowing from your house to put more back into your house, it will only add to the value of the property. Right now, refinancing is taking about a month or more in places like Rocket Mortgage could take upwards of six months to get all of the paperwork in line. The best thing to do would be to go to your existing mortgage provider or a mortgage advisor to get the best rate and the fastest closing.
Room conversions.
This is another popular upgrade and update a lot of homeowners are making. They’re turning master bathrooms into spas or home offices, redoing kitchens to allow more open space and entertaining, or midsize projects like converting one large room into two or vice versa. A simple personal loan or even a HELOC can definitely be a good option to pay for this. A lot of people are creating new spaces in their homes so that they can enjoy their home on different levels.
Kitchens and bathrooms.
These are always the premier spots for remodeling. If you have dealt with Corian countertops, Formica, tiled, or any other out-of-date countertops or flooring, it’s time to upgrade. Quartz is the new granite. It’s more durable, doesn’t stain, and usually does not have to be resealed. Hardwood or laminate floors such as Pergo Outlast has been one of the most durable flooring products on the market for the last couple of years. They’re great for bathrooms and for kitchens. New sinks, hardware, appliances, and bathroom fixtures all can add fresh and clean life to an older or outdated room.
Consider resale.
Even if you’re not planning on selling… Which you probably should right now because it’s a crazy market and you can get a lot for your home right now, it’s good to consider resale options. It’s probably not worth your time and money to go into a whole house renovation project if you plan on selling a couple of years because you may not get all of your money back. Simple projects, redesign or updating certain items that buyers will feel is worth the extra money should definitely be on your priority list.
Every home is different. If you’re looking to sell your luxury home or any property throughout the Sunset Beach metro area in 2023, give us a call.