With home prices skyrocketing in Utah, it pays to spend even a bit on home remodeling. However, not all projects might be worth it.
To let you know which ones to do stat, let’s play a game of go or no:
1. Paving
Say yes to paving if you like to keep the driveway looking neat at all times. It helps prevent dust from gathering and makes the area safer for vehicles and people.
But here’s the caveat: the kind of paving material you use matters. If you’re in Utah, you might find asphalt to be more beneficial than concrete.
It prevents snow from accumulating since it melts fast. It saves you money from using salts and keeps the pathway safe during winters.
Concrete pavement is ideal in hotter or more humid regions. Asphalt can be warm, which means it can contribute to worse humidity.
2. Decking
Decking is a go if you can meet the land requirements and building codes, and these can vary between counties and cities in Utah. Do it too if you’re planning to use wood. According to the Cost vs. Value Report, a wooden deck lets you recoup your investment up to 70%.
However, note that decking isn’t as popular as you thought it would be. The data from Freedonia Group revealed that its demand could grow by only 1.3% each year until 2023. Also, the return on investment had declined from 2019 to 2020, while the project could cost a whopping $10,000 on average.
3. Cladding
There’s much debate between cladding and repainting, and each has its pros and cons. Consider cladding if:
- You want to spend less on paint.
- You want your wall to receive maximum protection from extreme weather conditions.
- You like to update your house quickly.
But the cladding material you pick can spell life and death as some are prone to combustion. Contrary to popular belief, cladding itself also needs maintenance. You might have to repaint it!
It is also more expensive to clad a house than to paint it. Lastly, many types of paint nowadays offer wall protection and don’t fade quickly.
In other words, skip cladding, especially if you don’t have the funds. Just be wise with the paint you choose.
4. Home Automation
According to Allied Market Research, the global demand for home automation could grow by 11.2% between 2017 and 2023. By the end of the forecast period, its market value could reach a staggering $81 billion.
Home automation makes lives easier, but does it increase your property’s resale value? It depends on your market. Millennials and Gen Xers seem to be the most confident groups when it comes to technology. Baby boomers–not so much.
Although millennials would love to buy a smart home, it’s the seniors who have the money to spend on a newly improved property. However, most of them prefer to age in place. Simply put, they don’t want to leave their property if given a chance.
Unless your area is a popular destination for seniors, and you can offer them besides smart technology to attract them, you better skip this.
A no to some of these home remodeling ideas might be indefinite, or you can consider them later. Either way, hopefully, this list will help you focus on projects that can give you the best return quickly.
