What HGTV's Bryan Baeumler Says Homeowners Should Consider Before Renovating
Having a home renovated can be an exciting experience, especially when it involves updating a space that's several decades old. We've all seen those before-and-after photos and segments on TV shows, amazed at all the changes. But there's a lot to consider before jumping into a home renovation, whether you'll be doing the work yourself or hiring someone else to do it.
HGTV's Bryan Baeumler weighed in on the conversation on Realtor. Known for his handyman skills, Baeumler gives a word of advice for what homeowners should do before the renovation phase. "Always put your money into things that will reduce the cost of ownership and maintenance," he told the publication. He also recommends purchasing "net-zero homes." That is, homes that produce the same amount of energy that they consume throughout the year.
So what's the reason to delay upgrading laminate kitchen countertops to granite, or swapping out those cabinets from the '70s with a more modern, less-detailed style? It all comes down to saving money so you'll have more cash for your renovations later down the road.
Making your home more energy efficient can save you money in the long run
If you don't already have a net-zero home, there are ways you can invest in renewable energy sources. You can try adding solar panels, using smart home technology, or installing energy-efficient windows, as Unsustainable Magazine explains. "The higher the cost of energy to heat or cool your home or operate your home, the more you're paying yourself back every month," Bryan Baeumler told Realtor. Then, should you decide to sell your house years later, you can transfer these benefits and increase your profit on the property.
Take solar panels as an example. MarketWatch claims they can last 25 years or more and can save you over $1,000 a year on your energy bill. They can also increase the value of your home. The Appraisal Journal states that the value of a home "increases $20 for every $1 reduction in annual utility bills (via National Renewable Energy Laboratory)."
It's also important to note that renovating an energy-efficient home can give you a great return on your investment. According to Remodeling Magazine, renovation projects can net the homeowner 75-98% when the house sells. Just be wise about the type of renovations you make, as some won't increase the value of your house. Ultimately, it's best to think long-term about what you spend your money on to improve your home.