Home makeover decisions, whether remodeling or renovation, are investments that will improve your living space, improve functionality, and potentially increase property value. Both remodeling and renovation involve making changes to your home, but they differ in scope, cost, and purpose. Here’s a complete comparison between home remodeling vs home renovation to help you make informed decisions.
What Is the Basic Difference Between Remodeling Projects and Renovation Projects?
Defining a home remodeling project:
A remodeling project typically involves altering your home’s structure, layout, or design with significant changes such as adding or removing walls, changing the floor plan, or completely transforming a room.
Remodeling projects tend to be more extensive and intrusive. They may involve significant construction work and may require permits. Examples include adding a guest bedroom, expanding the kitchen, or creating an open-concept living space.
Defining a home renovation project:
On the other hand, home renovations focus on replacing or restoring existing elements of your home without fundamentally changing its structure. It may include repairing, refurbishing, or upgrading features like windows, entry doors, or flooring.
Renovations tend to be more targeted and less disruptive. A home renovation project often focuses on cosmetic changes or minor repairs, such as replacing existing windows, a full replacement siding job, or getting new flooring.
Which is More Expensive, Home Remodeling or Home Renovation?
Costs can vary widely depending on the size of the project, materials used, labor costs, and any hidden structural issues found during inspection. Renovations are generally more cost-effective since they involve updating existing elements rather than undertaking major construction. However, costs can still add up depending on the extent of the renovations and the potential to uncover issues during installation.
How Long Do Renovation and Remodeling Projects Take?
Remodeling projects often take longer, especially if structural changes to load-bearing walls are involved. Factors such as obtaining building permits, scheduling contractors, and unforeseen complications can significantly extend the timeline.
Renovations have shorter timelines since they focus on cosmetic updates or minor repairs. However, the duration can still vary depending on the availability of materials, as most contractors are still experiencing production issues that began in 2020.
What Is the Purpose of a Remodeling Project? Renovation Project?
Remodeling is ideal for homeowners who want to significantly alter their home’s layout or functionality. It’s often chosen when the existing layout doesn’t meet the homeowner’s needs or preferences.
Renovation is suitable for homeowners looking to refresh or modernize their space without making drastic changes. It’s a way to update the look and feel of a home without undertaking major construction.
What Type of Projects Have a Higher Return on Investment (ROI)?
Remodeling projects that add square footage or improve functionality, such as kitchen or bathroom renovations, tend to have a high ROI. These upgrades can drastically increase the value of your home and make it more attractive to potential buyers.
Renovation projects performed by professional contractors, like RJW Exteriors, also have significant returns on investments. With less paperwork and shorter timelines than remodeling projects.
A report by Bankrate studied common home improvement projects to determine what added to a home’s value when it was put on the market. This study showed that exterior renovation projects yielded a higher return on investment.
Project Cost Recouped
Entry Door Replacement 102.9%
Fiber Cement Siding Project 88.5%
Vinyl Window Replacement 68.5%
Renovations that improve aesthetics, energy efficiency, and functionality also boost your home’s value, particularly if they address issues that could deter potential buyers – such as needing to replace a home’s roof or worn, drafty windows.
Is it time for an exterior home improvement project on your home? RJW Exteriors will transform the look of your home. We install premium replacement windows, secure entry door systems that give you peace of mind, roofing backed by the industry’s best product warranties, and siding that will protect your home against weather and debris. For exterior remodeling projects in Northern New Jersey, contact RJW Exteriors.
Key Takeaways: Key Differences Between Renovation and Remodeling
- A remodeling project typically involves altering your home’s structure, layout, or design.
- Home renovations focus on replacing or restoring existing elements of your home without fundamentally changing its structure.
- Exterior remodeling projects typically have a high return on investment.
