2020 was certainly a year for the record books, and one which many of us would love to forget. With the global pandemic sweeping the terrain and forcing all sorts of business closures and other shut-downs, we were left with a struggling economy and a housing market that nearly collapsed on us all. Though as 2021 creeps in on us, things are starting to get back to levels of normalcy, and this means it might be the ideal time to handle some projects that you were forced to hold off on last year. The best part about going through with renovation projects this year is that companies are fighting to get back in the black, and so they're offering quick service and lower rates. So it might be the right year to go through with your reno projects.
If you are going through with any sort of home renovations this year, you might want to know where to start. What sort of renovation projects should you be taking on? After all, the last thing you want to do is invest a lot of money in renovations only to have the market fall out on you. Well, here are some of the best renovation ideas for 2021 that are going to protect the value of your home in the long-term.
2021's Ideal Renovations for the Home
There are very few renovations you can make that can pay off like a finished basement. This is adding a lot of square footage to your home, while adding a ton of value. Best of all, this isn't value that's going to disappear. Anyone interested in buying a home would love that extra space. It can be used as a game room, a home theatre, an in-law suite, and even space that can be sublet for additional income. The options are really limitless when it comes to finishing up a basement. It's going to add a lot more value than the money you put in to get the job done.
Next on the list of safe investments you can make concerning home renovations is a kitchen remodel. Opening up your kitchen and expanding its usable space, while also upgrading your appliances and fixtures, is going to add a whole lot of value well over the investment. Large, open, modern kitchens are incredibly trendy now. Home buyers are looking for updated kitchens. Though beyond that, having an updated kitchen is something that you will appreciate as a homeowner. It allows you to create a functional space where you can spend time with family and friends and make precious memories.
The bathroom is another crucial area of focus for 2021. Let us not forget here that home values are rebounding in a big way, so having a good bathroom may be the difference in your home being appraised at average market value or well above the market value. Plus, with the different types of technology out there today, a bathroom remodel can really help you save money in the long run with a low-flow toilet, shower head and sink setup. Having a new, modern bathroom looks like a million bucks, even though it won't cost anywhere near that much to pull it off.
Have you considered renovations insofar as they relate to outdoor spaces? We're not necessarily speaking about a full addition to the home; though that in no way would be a bad investment. It adds a lot of space and gives you plenty of options. Though what we're speaking about is something like an elaborate outdoor kitchen. For instance, you can have a deck built along with an outdoor sink and fridge, and set a grill up, along with some seating. The special thing about this sort of space is that the size doesn't really matter. You don't need a huge space here for it to be worth a lot. A dedicated outdoor space like this is like a two-for-one sort of home feature, and it will increase the value of your home a whole lot with a minimal investment.
These are just a few of the types of renovations you can do with your home in 2021 to add a lot of value and to protect against a potentially fledgling market.