Exterior home renovations can yield big returns on investment

Home remodeling trends show no signs of slowing down anytime soon. Despite supply chain issues and economic uncertainty, families continue to have confidence in home expansion projects. According to David Beltz, from Beltz Financial Group , “Investing in your home can create a more pleasurable experience for the homeowner, whether outdoor living spaces, improved bathrooms, or kitchens. It increases the enjoyment, satisfaction, and pride in the home.”

According to a recently released report by Remodeling Magazine, the return on investment for installing manufactured stone veneer on the exterior of a home is 91.4% according to the magazine’s recently released 2022 Cost versus Benefit report. In fact, among the 12 overall projects studied, exterior projects provided more return on investment than interior renovations.

“These improvements create options for families down the road if they choose to downsize, upsize, or ultimately move in the direction of living in some type of community setting. This increased value and marketability can provide large lump sums of money when sold, many times with limited or no capital gains, to address other life desires,” adds Beltz.

While some homeowners may have initial sticker shock while budgeting for a new project, PSW affirms that you don’t have to settle when it’s time for a renovation. Your next project should be viewed as an investment, not an expense. During a bear market, clients may find competitive prices and more choices when considering a home investment. The good news is that means a higher availability of high-quality contractors.

Another upside to home improvement projects during an economic downturn is that you can save money because you’ll reduce energy costs with efficient installation of new windows, doors, and light fixtures. The summer season also lets you take advantage of the nice weather when conditions are favorable.

The common pitfalls of prioritizing costs over deliverables are that you end up paying more in the long run. Individual contractors are not in the habit of communicating with each other when working on the same project. Say for example, you build a new driveway but decide later you want to install outdoor lights beside the driveway to enhance the curb appeal. The professionals who poured the concrete never considered to lay trenching for it, so extra work now needs to be done.

The PSW solution for this dilemma is our Trade Partner Network. PSW’s affiliation with 50+ skilled trade and field partners and distributors holds more value than a company using in- house field staff. Before every project, PSW holds pre-construction meetings with all the trade partners together in one room. By having the electricians, plumbers and contractors talk through some of the design logistics, it eliminates the guesswork and streamlines the process.

Just as we work carefully with our trade partners, we do the same with our clients – by guiding them each step of the way in an efficient manner that demands far less of their personal time. PSW also works well within a client’s budget to provide products and services that won’t compromise a client’s unique style. With our turnkey service, we are able to handle large-scale projects in a fraction of the time, which ultimately saves our clients money.

If you will be spending your summer at home, then consider working with PSW. We can provide you with options for your style and budget. We look forward to creating your vision and keeping more of your own money in your own pocket.