Should you follow renovation trends?
Although, this is probably not the clear answer that a homeowner wants to hear, the short answer is “it depends”. Just like most things when it comes to real estate, there is not one clear cut answer that will work 100% of the time. People don’t like hearing this, but we have some things to keep in mind in order to make sure that you make the correct decision and maximize the returns on your investment.
1) Just like when you’re looking to sell your home, make sure that you do research on other homes within your neighbourhood and other neighbourhoods that have similar characteristics. The fact of the matter is that you should probably stick to what the other homes are doing. The reason is quite simple, certain neighbourhoods cater to certain demographics and therefore prospective buyers are looking in a specific neighbourhood for particular reasons such as the style of the house and the interior design. Factors such as the average price, the age of the neighbourhood, the location, local businesses and others will attract a certain crowd seeking specific characteristics. As a result, consider the trends that your neighbours and other selling homes have followed. Chances are that these are trends that would work in your home as well.
2) You must always consider what kind of timeframe you have for selling your home. Are you looking to sell this year or are you looking to only move out in 8 years? This is in fact one of the most important things to keep in mind because trends that are being following right now may be out of style within 10 years. This is in fact the case for most trends as they appear for a few years and during that time it seems like everyone is following them, however, a few years after they become undesirable. We always recommend that you consider your prospective selling date before you consider the renovations that you will be going forward with. This will ensure that your house remains up-to-date for a longer period of time and does not have to be remodeled in 2 years.
3) Could the trend stand the test of time? This is an important question. For instance, are you considering a trend that has been around for a long time and has already stood the test of time or are you looking at a modern trend that will be out of style within 3 years. For instance, granite countertops have been the standard for the last 10+ years and continue to be trendy and a desirable characteristic for most homebuyers, whereas the modern exposed pipe look is relatively new and not something that is being adopted by the majority of homeowners and as a result, it will most likely disappear within a few years. Consider how long this trend has been around and whether it is something that you truly enjoy and that most homeowners are undertaking or whether it is like the newest fashion trend and won’t be around in 2019.
4) If you think about fashion for a second, there are always the looks that go in and out of fashion and then the staples that never disappear. It's the same for home renovations. Things like hardwood floors and granite have stood the test of time and although they may not be the most trendy things at a particular time, they remain essentials that are sought after by most homebuyers and therefore, they ensure some of the best renovations to consider. These staples are the go-to that we recommend when renovating your home because they present high returns and ensure a higher level of interest among a larger amount of buyers.