From Margaret on December 27th, 2010 in Tools and Tips
No more keeping up with the Joneses. Renovation trends have started leaning toward individual improvements that fit the specific needs of each home and its inhabitants. And for good reason.
While renovating is for now a better choice than messing with the real estate market, even payback on renovations has fallen. In fact, according to Remodeling Magazine, midrange upgrades now bring a higher percentage of return on investment than large upscale renovations. But if you think about it, that’s not actually disheartening.
What this trend shows is that if you refrain from sweeping through and creating an entirely new kitchen, for example, it might be more worth your while to replace one or two key fixtures, like appliances or countertops, and go from there depending on your budget. Think one top-grade cabinet makeover. Think an uber awesome fridge. Think better bang for your buck.
This “personalized upgrade” trend goes along with modern needs to think efficiently—with both our money and our resources. You should look at true need and what changes can really affect your dwelling. Focus on prioritizing and planning, and ultimately, getting a greater return on your investment. Now that, folks, is outdoing those spend-happy Joneses.