Since you’ve been home more than usual, you may be more focused on your home and ways to improve it for all the time you and your family are spending there. You may be considering painting inside and out, changing out or painting your cabinets, or, if you’re really industrious, maybe knocking out a wall or two.
While you’re thinking over your choices, you may be asking yourself, “Which home renovation project will give me the highest ROI?”
In a perfect world, we could buy a bright yellow sofa pit with built-in cup holders, install over-the-top, clashing wallpaper just because we like the design, bring in ornate light fixtures, or get cabinet-front or avocado appliances to outfit our kitchens. Most of us, however, don’t. Why? Because tucked away, somewhere back in our minds is a concern about future resale.
Excellent real estate agents astutely and continuously warn us about resale and trying to sell a house that has unusual décor choices. “Your blue carpeting is not good for resale,” I remember one agent saying with disdain. “And that backsplash tile, it’s … colorful,” she said choosing her words carefully.
If you don’t care about future resale then you may or may not care about ROI. You can tell right away when you see a house, who is not concerned and who, on the other hand, does consider resale value when making changes and updates to their home.
So, back to the questions, “Should I paint, decorate, remodel, or renovate?” and “Which Gives the Highest ROI?” The answer is that it really does depend on many factors, some in your control and some out of your control.
Here are some factors to consider when you’re trying to decide what updates to do next for your home. As with all things in these unprecedented times, we’ll also consider the effects of COVID-19 on our home updating plans.
Most of us are spending more time inside at home and because of that, you may have noticed that your mood is influenced by your surroundings more so than ever. We often attempt to control how a space makes us feel by updating furniture, adding light fixtures to brighten our space, and decorating to bring a positive vibe inside.
For those that have the resources to furnish their home with new belongings every few years, this can be an enjoyable experience that provides you with a calmer, happier feeling. New furniture and interior decorating can influence your mood in positive ways.
Interior decorating, however, can be expensive, whether or not you hire an interior designer to help you select your furnishings and colors. Because it can be a costly option, the ROI associated with decorating may not be as high as you’d like.
On the one hand, you may love your home’s new look, but on the other hand, you may not gain the return on the investment it takes to get that new look. That’s where a relatively inexpensive painting project comes in. A new paint job can boost the mood inside your home and can accomplish this effect at a fraction of the price.
And paint is so versatile because you can use it to accomplish many different goals. For example, if adding more light to your space is your goal, consider using warm/neutral colors to draw in natural light or cool colors to add a richness to your space. You can also change the colors of your rooms easier and more frequently than it may take to choose a new couch or bedroom set.
With the coming Fall and Winter months, many homeowners spend extra time indoors and out of the cold fresh air. Having clean air inside the home, where allergens, mold, and cooking fumes exist, is important now today more than ever, as we consider the effects of the coronavirus, along with other pollutants. Some take the route of buying home air filtration systems for specific rooms. Others even go as far as to replace ductwork and dehumidifiers to improve air quality. So why paint when you could filter the air in your home instead?
There are few if any, downsides to investing in clean air for your home. The one problem is that most people don’t (or can’t) remove the underlying causes of the poor air quality so that even if you have a home air filtration system, it will have to continuously work to clear out the recurring toxins in your home’s interior air.
Paint is a helpful tool in keeping dust and allergens to a minimum, which aids in improved air quality control. With the help of paint, individuals with allergies or asthma can breathe easier in your home.
Walls and other surfaces of your home are typically made of materials that absorb moisture naturally. Over time these surfaces can become compromised which is when mold and other allergens take hold. Paint is designed to seal out moisture from porous surfaces and is the best way to prevent mold and damage during each hour you inhabit your home.
Bottom line is that a home air filtration can be expensive and may or may not provide you with a solid return on your investment. Having your painter use low or no volatile organic compound (VOC) paints can help you improve your home’s air quality at a fraction of the cost. If having superb air quality is essential in your home, you may want to have both, a new air filtration system plus newly prepped and painted walls, painted with the highest quality, lowest VOCs available.
When homeowners think of improving their home, they may immediately assume a remodel is the best option. While this may be beneficial for some, not every homeowner has the time or resources to invest in remodeling. With all the benefits that come with remodeling, why paint?
In short, painting is a much more cost-effective way to increase your home’s value. Not only is painting the least expensive way to increase the overall value of your home, but it is also effective for both interior and exterior gains. A professional paint job communicates to others that you’ve cared for and protected your home well. It also has shown to help homes to sell more quickly than homes that haven’t been repainted, and the painted homes are often selling for a higher asking price. The return on investment when it comes to painting vs. remodeling is no competition. Painting is the clear winner.
That said, there are many renovation or remodeling projects you can have done to your home that will provide many years of joy while you’re there, as well as add value to your home. The initial outlay may be more expensive than painting, but the return may be equal or better.
Our team of carpenters can take on any remodeling project you have, whether it’s in your mind or already on paper, drafted out in detail. We can discuss the details of your project and let you know what your potential return on investment (ROI) may be.
Painting is not a cure-all to every homeowner’s desires, by any means, but there is immense value, both emotional and physical to a well-painted home. From interior to exterior, paint is designed to protect your home, to make it more enjoyable, and to keep you safe from unsafe toxins that may be hiding in your walls. The key is to find a professional painter who can help you make your home everything you’ve wanted and more.
At Bruno Painting our mission is Upholding and Caring for Surfaces and Relationships. Our teams of professional painters and professional carpenters are eager to help you get your home looking how you want it to look, all while providing you the highest return on your investment.