Why You Should Start Your Home Renovation Now
Back in March 2020, many of us suddenly found ourselves spending much more time in our homes than ever – no longer heading out the door to drop the kids at school, commute to the office, meet friends for dinner and a movie, dash into the mall for some shopping therapy, or fly off to attend a conference or enjoy a beach vacation.
The pandemic kept people home, resetting our lives and our spaces for the new 24/7 home, sweet home … office-classroom-fitness center-restaurant-spa-dorm-movie theater-vacation resort-and more.
In the short-term, adjusting to work and school from home was about cleaning out closets, moving dining room tables, shopping online for home office organization solutions, prowling Pinterest and Houzz for inspiration to help create multi-purpose spaces.
Two years on, and we see many people taking bigger steps to create a home that is truly designed to work for their changed needs and lifestyle. The extended time at home put a bright spotlight on previously-ignored problems or otherwise acceptable flaws in the space and function of the home. For those back to the old work routine there may even be more frustration coming home every day to a house that now, more than ever, just doesn’t fit.
What about you? Has the added time at home revealed issues and sparked ideas for how your space could better support your needs and match your lifestyle?
Maybe you started noticing some changes you wanted to make to give your space a refresh for both function and style.
Maybe you left the corporate HQ office behind and started to enjoy working remotely from the relative comfort of home, trading in commuter drive time for relaxing or productive start-your-day time. Maybe you gave up the corporate work and started your own business. Maybe you switched off work altogether to homeschool the kids, or retire early, or focus on caring for aging parents.
Whatever your new normal, chances are your home hasn’t kept up with your changing life.
Redesign. Renovate. Renew.
What does your home need?
Does having a dedicated home office now top your priority list?
Do you wish your home had more connection with the outdoors?
Would it be nice to have spaces better designed to accommodate multiple people simultaneously involved in different activities?
If it’s become apparent that your home isn’t serving your needs and you’re ready for a change, it’s actually a great time to start a renovation project. Especially if you have already waited two year, getting by with your space while longing to get it just the way you want it.
The way we see it, this isn’t about waiting for life to get back to some version of normal, it’s about taking charge and renovating your home to fit your life now – this can be your big step toward a happy new normal.
What are you waiting for? Even though we still face uncertain times, there are definite benefits for homeowners who choose to remodel now. It may seem counterintuitive, but putting off home design projects until later will put you at a disadvantage.
If you need more incentive (as if working on your laptop at the kitchen table for two years isn’t enough), here are three reasons to get started now.
Rates are Great
Choosing to remodel your home now means you can take advantage of low interest rates. As of Feb 2022, Home Equity Loans are approximately 5.96%* and Home Equity Lines of Credit (HELOC) rates are about 4.27%**.
[Updated 2/17/2023: HELOC rates range from 6.49% – 8.77%, with an average are at an average 7.79%.]
And remember that the interest you pay on home equity loans and home equity lines of credit, or HELOCs, is tax deductible if the money is used to remodel, repair, or otherwise improve the value of the home that secures the loan.
Plan Ahead
Most home remodels and renovations require several months to develop the plans, make selections, choose a contractor, and get building permits. After that, depending on the scope of the project, there can be many months of on-site work for demolition, construction, and finishing.
We don’t need to meet with you in person for most of the pre-design and design process. At Studio Z, we offer virtual client meetings to make this process safer and more comfortable. We also follow our own strict guidelines for all in-home visits, including when we measure and take photos of the existing conditions.
By starting the design process now, you’ll be able to move forward with pre-design and planning with your architect, start choosing your fixtures and finishes, and review and select contractors – and get on their schedules as soon as possible.
As with much of the U.S., there is a real estate and home construction boom in Ann Arbor and the Detroit metro area. Architects, contractors, trades, and service providers need plenty of advance time to schedule projects and place materials orders to accommodate supply shortages and shipping delays.
The longer you wait to begin your project, the longer it will be before you can start construction and the longer you’ll continue to live in a home that isn’t best suited for your lifestyle.
Start at Z
By working with Studio Z to start or continue your home renovation, you have another advantage: the Studio Z Team Approach. Our flexible project delivery method allows us to work together through the phases of the discovery process to create a home design that you’ll love.
As part of this Team Approach, we make a point to bring contractors into the process early on. This upfront teamwork gives you a better understanding of what is possible and what’s realistic within your budget and timetable. We all work as a team through key decisions at every phase to help keep your project on track.
The Studio Z Team Approach means that we will be able to quickly adapt the design and build process so that it’s tailored to your needs.
Are you seriously considering a remodel or building your dream home? Let Studio Z design to delight you!
Let’s talk! Contact us to schedule your initial call with our team.
*https://www.bankrate.com/home-equity/home-equity-loan-rates/
