You can buy or rent an apartment. You make it home. It is often a lifelong quest to create a space that reflects you and your personality. We will spend over $700 billion on home décor in 2020. Most of us will spend thousands of dollars on details to transform a property into our sanctuary during the first year as homeowners. We paint, furnish, remodel, and do more.
Most of the money that we spend on adding those personal touches will never be seen again. You know what I’m referring to if you’ve tried to sell an old leather sofa on Craig’s List. Does this mean that we regret spending the money? No, absolutely not. We experience the reward of living in a home that we have designed with love to represent our personalities and interests. Some decor choices, however, have been shown to increase the value of your home. We’ll look at some of the reasons we redecorate and how you can create a plan to redecorate that will not only make you feel great but also put money in your pocket.
What drives the decision to redecorate?
Redecorating is often a result of moving to a new house. This statistic might surprise you. Around 40 million Americans relocate every year. This is about 13%. People move for many reasons, such as professional opportunities or to be closer to their families, but the most common cause is to change houses or apartments. Empty-nesters may need fewer bedrooms, while growing families require more. Some older people decide to move to one floor because they find climbing stairs a hassle. The 9-piece sectional, which was perfect for your ranch-style living room, might not work in your new urban condominium. There are more bedrooms, which means more beds, dressers, bathrooms, towels and shower curtains. There’s also the possibility that previous residents had bad taste.
Moving isn’t our only reason for decorating. People who have lived in the same house for years give a variety of reasons why they change their decor. Furniture and rugs are showing signs of wear, including paint chips. Your home could start to look outdated as styles change. Decorating is also a lot of fun. We can use our creativity. It is a source of pride. Redecorating can provide great entertainment for those who like a bit of retail therapy.
How to Create a Redecorating Plan
If you are moving into a new place or want to update your familiar home, a budget plan and step-by-step instructions can help you get the most out of your decor dollars. Budgeting is the first step, just as you would start by determining how much you can spend on a new home when you are moving. You can make a best guess at how much money you will be able to spend in one year on redecorating. Reduce it by 10%. It would be best if you always built a cushion for any unexpected expenses that might arise.
Next comes prioritizing. Some people need new furniture–bunks for toddlers growing up or a dining table if they’ve never owned a dining area before. This is an investment that will not yield a return, but it could be at the top of your list. Start looking for other ways to improve your house if you already have enough furniture. This will pay off when you decide you want to move.
Invest in portable decor if you are a renter. You can move anywhere with a fabulous oriental rug. It will bring you joy and meet your needs for many years. The artwork you choose should make a statement and beautify the room. The perfect comforter for the bed that you will be taking with you. You can save money by investing in durable pieces.
If you’re a homeowner, you may have a wider range of financially-beneficial choices. Paradoxically, it is the things you cannot bring with you that help you build equity in your house.
Home Decor Ideas That Increase Value
A seasoned realtor will tell you that great bathrooms and kitchens are what sell homes. Homebuyers are most interested in high-end appliances and new kitchens. These are the most expensive improvements that you can make. You can make your house more appealing by making other less costly choices. For example, you could reglaze a worn-out bathtub, replace old faucets with new ones, or install energy-efficient, contemporary lighting. Never underestimate the power of a fresh coat of paint. It is best to choose neutral colors for foyers, hallways, and ceilings. You can save your distinctive colors, such as lavender or crimson, for a bedroom or small bathroom.
Custom window furnishings that are well-chosen can also increase the value of your house. Blinds and shades can be chosen to complement many different furniture colors and paints. Wooden Blinds not only look great, but they also fit in with the current design trend of warmer and more natural decor. Motorized blinds are a relatively recent addition to the list of smart home features. You can control them using a mobile app. They offer convenience and an extra measure of security.
A Final Tip
Protect your investment if you choose to invest in high-end appliances or smart home features. Even the best homeowner’s insurer won’t reimburse items that you don’t document. Take photos of your improvements and keep the receipts for each purchase. Why? Imagine that you had a house fire. Your insurance company might not reimburse you fully if you cannot prove that you have made expensive home improvements. Do you want to replace the custom-fitted curtains you spent thousands of dollars on? You are more likely to get enough money from your insurance company to buy new curtains at Target or Home Goods. It’s worth spending a few minutes to update your insurance information, especially if you have invested countless hours and creative energy into making your house your sanctuary. You could save thousands of dollars, and it costs you nothing.