We all read the same news, and there’s an undercurrent of concern about a recession – and we’ve received a lot of questions about whether it is a good idea to invest in their home, backyard, or space now or to wait. 

Our answer is – as always – it depends what you want. We’ve been doing this since 2009 and over the course of that time, we haven’t seen construction costs go down. So, waiting because you are assuming it’ll be more affordable to do a renovation in the future is unlikely. Additionally, certain renovations can increase your home’s value while simultaneously making your home better suited for your family.

How to Renovate with Value in Mind

When you’re renovating on a budget, you have to make conscious decisions on where to save and where to splurge. While that seems challenging, it’s not as daunting as it seems. Here’s how we approach it:

As always, we start by designing everything you want in the home – you want a salt room? You get a salt room. You want that gorgeous tile from a specialty tile maker in Spain for your bathroom? Put it in. 

Once we finish the initial design, we see what that total, all-in cost will be. Then we trim. If the tile from Spain isn’t a must-have (just something you like) we look for more economical alternatives that have the same qualities you love (often, we can find similar materials for 40% less). Then it’s on to the next level:

What Kind of Renovations Add the Most Value?

We’re not talking about value in resale value – we’re talking value in quality of your life. Look at how you live: if you don’t cook often, you don’t need to overspend on kitchen renovations. If you love to spend time outside, however, building that outdoor living space is a must-have. 

Going through how you want to live is an essential part of the process when trimming the budget – it’s very easy to run into decision fatigue when you’re trying to cut $150,000 out of a renovation, but when you focus on how you live it becomes easier to find the renovations that will create the most value for you and your family. 

Investing in Your Home 

If you’ve wanted to renovate for years but you’re concerned about the cost, let’s connect. At Debowsky Design Group, we’ve helped many homeowners establish and maintain realistic budgets for their projects without compromising on style and taste. Give us a call when you’re ready to start your project and give your home’s market value a huge boost!