2023 is in full swing and we are full of anticipation for what this year will bring. “Always bear in mind that your own resolution to succeed is more important than any one thing.” ~ Abraham Lincoln
While the economy shifts and interest rates rise, there are very smart ways to invest your money into your home that will hold value AND achieve your renovation goals. Let New Generation help guide you through the economics of renovating in 2023. Below we list some of our suggestions for putting your dollars where they count this year:
- Maintenance: Don’t sleep on keeping your home in tip-top shape! Maintain your roof, HVAC, electrical, etc and don’t forget the small items like cleaning your gutters and changing out leaky faucets. Doing these minor repairs around your home are pertinent and can, in many cases, save you thousands of dollars in the long run.
- Kitchens: If you have a long list of renovation goals but want to calculate where you should begin, we strongly suggest to start with the kitchen first. As the heart of the home, kitchen renovations make a ton of sense in any economy. The return on investment isn’t just about the dollars but also the benefits you get out of use and pleasure are enormous.
- ADU: If you’re thinking about what will give you the largest return on investment in this economic climate, an ADU is the way to go. While the initial cost is a large one because your essentially building a second home on your property, the return is double fold both in terms of use, square footage and property value.
Let us know if we can be of service bringing any of your visions to fruition this year.
Cheers to 2023!
Mario and Marisela
