Renovation vs. Remodeling: Which Is The Better Investment For Your Home?

You might have heard of the popular phrase that Rome was not built in a day. Well, not even your dream home. Building a home from scratch or making a few changes to it to add to its comfort and value is not an easy task. It requires dedicated time, effort, and expertise that can drain you in just a few hours. It is quite a stressful task to tackle a home renovation. Or maybe it was home remodeling.

The terms home renovation and home remodeling are used interchangeably as these are often considered similar terms in the architectural industry. In most cases, the expert you hire or consult understands the scope of work even if you use the wrong terms which is why nobody ever actually thinks of the differentiation between the two. But have you ever thought about why these terms seem synonymous, what’s the actual difference? Let’s dive deeper into the two and how they are each unique terms in the industry to lead your home project better.

Know About The Concepts Of Home Renovation And Home Remodeling

Has it ever happened to you that you researched quite a lot and found a trusted firm of home remodeling contractors but when you went to meet them personally, they told you that your scope of work comes under the services of the home renovation contractors? They would be quite embarrassing, isn’t it? Therefore it is better to at least have a brief understanding of the concept and then consider services based on the same.

In the simplest sense, home renovation refers to the process of making the old home feel and look new with fresh structures and elements while the process of home remodeling means the creation of something new from the old home. The difference between the two usually depends on the scope and the goal of the work to be done.

Key Differences Between Home Renovation And Home Remodeling Services

To make an informed and smart decision, you need to understand the key differences between the two synonymous concepts of home remodeling and home renovation. So here is a brief guide to help you with the essential details and make you lead the project with confidence.

Definition

• Home Renovation: The process of home renovation refers to the updation or restoration of a structure or the entire to a good state of repair without changing its intended function, layout, or basic structure. For example, if you don’t wish to change the layout of the rooms or kitchens or the floor area but want your home to look more beautiful and functional, it is the perfect time for home renovation. The process of renovation is more DIY friendly and usually includes activities such as painting walls, refacing cabinets, replacing fixtures, changing door hardware, and other tasks.
• Home Remodeling: Remodeling as the name suggests, refers to the process of changing the structure or design of a space, often altering its function and layout. This usually includes the process of relocating infrastructure like expanding your kitchen, turning your garage into an extra living space, reconfiguring the bathroom to fit a large bathtub, and other tasks that add to the lives and value of the home. For such tasks, you will necessarily need to hire the services of home remodeling contractors as they are more technical and complex.

Scope of Work

• Home Renovation: This is a less complex and technical architectural work that includes surface-level improvement tasks such as repainting, refurnishing floors, changing lighting fixtures, updating finishes, or repairing minor damage. These include the tasks that do not change the layout or overall structure of the home.
• Home Remodeling: This includes a more technical and complex range of actions that includes altering the structure or layout of the home. It might include changing the layout of the rooms, building additions, adding a second floor, adding the square footage, building a deck or patio, or changing the electrical and plumbing system of the home.

Time And Complexities

• Home Renovation: The processes included in the scope of home renovation are generally less intrusive and simpler with little construction work. The construction includes only the surface and cosmetic changes thereby making the projects complete way sooner as compared to the home remodeling projects. These projects complete very fast thereby making it perfect for those seeking quick updates or preparing a home for sale.
• Home Remodeling: This usually includes a more complex and technical range of tasks that require changing the structure or system of the home to a significant level. The process of home remodeling requires proper planning and execution as it includes a comprehensive range of tasks that include the services of remodelers, architects, and other construction professionals. These projects are typically more time-consuming as these projects demand detailed planning, structural changes, and proper coordination among diverse professionals.

Permits And Regulations

• Home Renovation: It requires minimal construction work and does not make changes to the structure of the home, therefore it does not require any potential permits. There are no stringent regulations or laws of the government for home renovation.
• Home Remodeling: The construction and design processes that come under the scope of home remodeling often require adhering to local building codes and regulations and the homeowners are required to get permits in many cases as well. The permits are especially necessary if any kind of structural changes, plumbing, or electrical systems are involved.

Cost And Price Considerations

• Home Renovation: The process of renovation is typically less invasive and complex thereby making it a more budget-friendly option. In most cases, the home renovation contractors provide a pre-defined budget to the homeowner and manage it according to that. This budget is affordable for most homeowners, and people can also DIY for renovation making it an economical choice.
• Home Remodeling: The complexities of the processes and the scope of work that comes with home remodeling make it a significantly expensive option and not something you can do every year. In case of structural changes or upgradation of major systems such as electrical or water supply, the costs are even higher.

Should I Go For Renovation Or Remodeling For My Home?

Home remodeling and renovation, both are great processes that help to enhance the aesthetic appeal, functionality, and practicality of your home. But you as a homeowner, have to decide whether you wish to opt for renovation or remodeling to add to the overall value of your home. To help you with the decision-making, here are some of the essential factors to be considered before making a service purchase:

• Goals: The first and foremost component of any decision is about what you expect and want from the project. Whether you wish to enhance the functionality and aesthetics of your home but don’t want to change the layout of the rooms and kitchen, or you wish to expand the area or transform the space such as converting a cramped kitchen into an open-concept utility kitchen or adding a second floor to the home. In the first instance, renovation might be the option for you but if you want structural or layout changes, remodeling is the need.
• Budget: Even if you consider a hundred factors, the last decision comes down to one thing, the budget of the homeowner. In case you have a limited budget and seeking a more affordable choice, then home renovation is quite a great option to enhance the comfort and functionality of your home. However, if you can afford the hefty price tag of home remodeling, its returns on investment and contributions to the overall value of your home are remarkable.
• Timeframe: As we have discussed earlier, home remodeling is a way more time-consuming task as compared to the renovation processes. This is why, if you wish to make a few improvements in your home before you sell it, home renovation is the option. And if time is not at a premium, you can always go with home remodeling that will transform your home into something dreamy, beautiful, and highly functional.
• Resale Value: This is an important consideration that aims at maximizing the returns on investment on the project. You should first consider the market value of the property and what numbers can the renovation or remodeling add to that. The investment in home remodeling is quite extensive but the returns on that are not that worthy. On the other hand, making a few improvements in a home with renovation can make it more attractive and add to its value without much expenditure.
• Historical Value: In case your property has a unique or historical element that makes it precious or appealing, then home renovation is the option as it won’t take away the charm of historical elements and the beauty of antiques. The process of remodeling can take away the original character of the home thereby reducing its value.

McCoy Mart: Guiding People With Exceptional Expertise And Advanced Knowledge

Before you seek Google to search for the “best home remodeling contractors near me” or the “best home renovations near me”, you need to understand the difference between the two and know what kind of services you want. It depends on the scope of work, goals, and diverse other aspects that collectively determine the ideal services.

Whether you call it a renovation or a remodel, one thing that is the most indispensable component is that you handle the project with care. You should pay attention to each detail, ensure you get the right layouts and design, and spend based on your budget and returns on investment. We at McCoy Mart work to ensure you get the right professionals whether it be interior designers, home remodelers, renovators, contractors, or any other, and that we help you throughout the process to help you build your dream home with perfection.

Read Also: 5 Home Remodeling Myths And How to Avoid Them