Discover the Full Value Of Bringing Your Home Into the Modern Era Without Sacrificing Its Character and History
Renovating a historic home can make your home more comfortable for your lifestyle, but it also comes with the potential for financial reward.
Whether you’ve just purchased an older home in need of remodeling, or if you’ve lived in one for years, the question of historic home renovation’s return on investment (ROI) can be worthy of addressing, particularly if you plan to sell the home in the future.
What Influences ROI?
Appreciation Rate
According to real estate professionals, historic homes tend to appreciate in value more than other properties in their surrounding areas. In fact, studies show that, on average, historic properties are worth about 26% more than other similar homes. Additionally, these homes are less affected by market downturns, providing more stability in your investment.
If you plan to live in your historic home for a long time, the property’s higher appreciation rate, coupled with strategic renovations, can lead to higher value. Tack on a professionally executed historic home renovation, and the property’s value is likely to increase further.
Of course, if you’re remodeling your house for your own enjoyment, appreciation and ROI can be less important than the memories you’ll make with your family in a beautiful, meaningful home.
Historic Home Renovation Costs Vs. Long-Term Gains
Renovating a historic home can involve considerable upfront costs, especially with the specialized materials and craftsmanship needed to preserve its authenticity. However, these investments often pay off in the long run.
For instance, popular historic home renovations such as kitchen remodels can yield an ROI of 70 to 80%, while bathroom renovations recoup an average of 72.7% of their costs. Even smaller updates, like upgrading appliances, installing smart technology, and improving energy efficiency, can increase your home’s value.
Basement or attic conversions expand your home’s usable, functional space and can also deliver an ROI of up to 75%.
Exterior upgrades such as new windows, siding, or roofing have the added benefit of enhancing curb appeal and energy efficiency. On average these projects recoup roughly 80% of the initial investment.
These high-ROI projects are great examples of how thoughtful historic home renovations can enhance your property’s overall value.
Balancing Preservation and Modern Functionality
Renovating a historic home involves cultivating the perfect balance between preserving its original character and modernizing it for today’s living standards. One thing to consider when researching renovations is whether your historic home renovation contractors understand how to protect the historical accuracy and integrity of your home by sourcing period-appropriate materials and using skilled craftsmanship and techniques.
At Architectural Craftsmen, we understand the importance of maintaining the architectural integrity of older homes while introducing improvements that make them more comfortable, energy-efficient, and functional.
Implementing Energy Efficiency Into Historic Homes
Energy efficiency certainly affects your carbon footprint and reduces your energy bills, but how does it affect the value of your historic home? Many historic homeowners make the choice to integrate energy-efficient windows, wall and roof insulation, and modern HVAC systems, and ultimately, as long as they’re installed by a professional, there’s no reason for them to negatively affect your home’s value.
On the contrary, as long as your energy-efficient updates don’t detract from your original architecture or historical features, energy-efficient improvements can provide a great return on investment, not only on the value of your home, but in money saved over time.
The key to striking this balance is working with a historic home renovation company like Architectural Craftsmen. We use our unique skill set to implement energy-efficient features and technology without compromising your home’s unique character.
Choose Architectural Craftsmen, Historic Home Renovation Contractors Near You
Partnering with the right historic home renovation contractor maximizes your investment in your home and brings your vision to life. To honor your older home, choose a local historic home renovation contractor, not just any construction team.
At Architectural Craftsmen, we have decades of experience with remodeling historic homes built in the 1940s and earlier and certifications and awards that prove our craftsmanship.
Over the years, we’ve developed conscientious solutions to create beautiful home renovations that prioritize both architectural integrity and modern updates. We know the enjoyment of your home and the emotional connection to it is priceless, regardless of the ROI of other renovation choices.
Call us at (913) 963-2246 or send us a message online to start planning your historic home renovation.
