And if you want to skip the contractor? There’s a financing option for that, too. Let’s talk EasyPath™ Renovation.

What is EasyPath™ Renovation?

EasyPath is a program that allows you to roll your mortgage and renovation costs together, without having to hire a contractor or make big purchases on your credit card. Designed for home updates completed through major retailers like The Home Depot, Lowe’s, and Menards, EasyPath can be used with conventional renovation mortgages like CHOICERenovation^® and CHOICEReno eXPress^®.

6 perks of taking the EasyPath:

• Loan amount can be based on the projected value of your home after renovations
• Leverage the same interest rate as your home loan instead of your credit card
• Down payments as low as 3% to 5% for purchase transactions
• Purchase and refinance transactions are eligible
• Cardinal makes 100% payment to the retail store to purchase and install the project
• Fixed and adjustable rates available

When is EasyPath the right choice?

Whether or not EasyPath is right for you comes down to your timeline and the scale of your projects. If you’re looking for a faster financing process, EasyPath typically takes less time than working with a contractor. While you save time by eliminating the contractor search and independent quoting process, it also means that larger projects aren’t ideal for EasyPath. The bigger and more complicated the renovation project, the more likely you are to need a specialized contractor to handle it.

The EasyPath process, explained.

With traditional home renovation loans, you have to find a contractor and have your lender verify that they’re qualified for your planned renovations before you do anything else. With EasyPath, you get to skip that part. Here’s how it works:

Step 1: You visit an eligible big box chain store and complete a bid.

Step 2: Next, Cardinal’s Renovation Support Team reviews the bid, consults with the store, and orders an appraisal.

Step 3: Finally, the appraisal is completed based on the projected value of your home after the renovations are finished.

Bonus home renovation loan tips.

If you hadn’t noticed by now, you’ve got a lot of options when it comes to home improvement financing. Whether EasyPath is the right one for you or not, here are some tips to keep in mind before you apply for a home renovation loan.

• Budget for the unexpected
• Get multiple bids to find the best price
• Don’t try to do it all yourself
• Tackle one project at a time

When you’re ready to start your home renovations, we’re here to help finance them.

Want the perks of a home renovation loan without the process of hiring a contractor? EasyPath™ Renovation might be your solution.

The post Home Renovation Loans: 6 Reasons to Take the EasyPath™ appeared first on Cardinal Financial.

5 types of refinances for home improvement

• Cash-out refinance
• FHA 203(k)
• CHOICERenovation^® and CHOICEReno eXPress^®
• HomeStyle^® Renovation
• EasyPath™ Renovation

After we break down these top five types of refinances for home improvements, we’ll go over how to determine the best fit for your goals.

Cash-out refinance

A cash-out refinance* is not officially a renovation refinance. You can use the cash-out funds from your home equity however you see fit. But, many homeowners choose this type of refinance with the intention of using the cash out of their home equity to finance home improvements.

*Using your home equity to pay off debts or make other purchases does not eliminate the debt or the cost of the purchases, but rather increases the loan amount of your mortgage to be paid according to your new mortgage terms.

FHA 203(k)

From complete structural changes to minor home renovations, FHA 203(k) programs allow you to finance home rehab costs and your mortgage in one convenient loan. Backed by the Federal Housing Administration, FHA 203(k) loans offer Standard and Limited options. The right one for you depends on the scope of your planned home improvements.

FHA 203(k) Standard

• Structural changes allowed 
• $5K minimum, no maximum repair amount
• Landscaping and hardscaping allowed 
• 180-day maximum completion time
• Manufactured homes allowed 
• HUD consultant required

FHA 203(k) Limited

• Minor remodeling allowed
• No minimum, maximum $35K repair amount
• Landscaping and hardscaping not allowed
• 180-day maximum completion time
• Manufactured homes allowed
• HUD consultant not required 

CHOICERenovation^® and CHOICEReno eXPress^®

Freddie Mac’s CHOICERenovation is a mortgage that allows you to include your renovation costs in your home loan balance. CHOICEReno eXPress is essentially the same program, but for smaller-scale upgrades. What makes these two refinance options different from FHA (203)k Standard and Limited loans is that they’re not backed by any government entity. They are Conventional loans. That means different lenders may have different qualifying criteria.

HomeStyle^® Renovation

Fannie Mae’s HomeStyle Renovation is another Conventional refinance option to fund your home upgrades. It functions similarly to a CHOICERenovation loan, but you can combine it with other Fannie Mae products like HomeStyle Energy (designed for home improvements intended to conserve energy, cut utility costs, and increase the home’s resilience against natural disasters) and HomeReady (designed for low-income borrowers).

EasyPath™ Renovation

EasyPath Renovation is a program that allows you to roll your mortgage and renovation costs together, without having to hire a contractor or make big purchases on your credit card. Designed for home updates completed through major retailers like The Home Depot, Lowe’s, and Menards, EasyPath can be used with Conventional renovation mortgages like CHOICERenovation and CHOICEReno eXPress. It’s important to note that EasyPath itself is not a mortgage, it works with your renovation home loan to help you maximize the benefits.

EasyPath highlights

• Loan amount can be based on the projected value of the home after renovations
• Leverage the same interest rate as the home loan instead of your credit card
• Cardinal makes 100% payment to the retail store to purchase and install the project
• Fixed and adjustable rates available

How do I know which refinance for home improvements is right for me?

Like any big financial decision, there are a lot of factors to consider before committing to a renovation refi. Some of those will be unique to you, but here are a few key questions to ask yourself to narrow down your financing options.

What’s the scale of my planned renovations?

As we covered in this blog, different refinance mortgages are designed for different types of home projects. If you’ve got smaller updates in mind (like fresh paint, new floors, or new appliances), a loan like CHOICEReno eXPress is likely a better fit than CHOICERenovation or vice versa. Some loans, like HomeStyle Energy, are created for very specific types of updates. So, if you’ve got specialized renovations in mind, there might just be a niche loan for that.

How much equity do I have in my home?

Your home equity is what your home is worth in the current real estate market, minus the amount owed on your home loan. If your equity is high, a cash-out refinance is a popular way to leverage that equity. Plus, you can use any funds left over after renovations however you see fit.

What’s my credit score?

The importance of your credit score doesn’t diminish after buying your home. When you refinance, it still impacts the rates you can get and which refinance loans you can qualify for. If your credit score is higher, Conventional renovation loans might offer more competitive rates. If you’re still building your credit score, government-backed options like FHA 203(k) could offer you the flexibility you need.

At the end of the day (and this blog), the right mortgage lender should provide all the guidance you need to decide on the best way to fund your home renovations. So, don’t stress too much about having all the answers before you start the process. You’ve got this!

Rates aren’t the only reason to refi. It’s also a great way to fund home upgrades like new flooring, landscaping, and even structural changes.

The post Refinance for Home Improvements: How to Choose Your Best Fit appeared first on Cardinal Financial.

Home improvements for tax deductions to consider

Home improvements that qualify for tax deductions typically fall into one of these four categories:

• Renovations for medical conditions
• Eco-friendly home upgrades
• Home office additions
• Improvements made to sell your home

However, as with all things taxes, it’s not that simple. Which home improvements are tax deductible depends on the scale of the project, how you use the renovated space, and more detailed criteria. Plus, some states may have different tax requirements than others. With that in mind, let’s get into what you can generally expect to qualify.

Renovations for medical conditions

Accessible home modifications are often eligible for tax deductions. These include medically necessary home improvements intended to make the home livable for a person with a disability who resides in the home.

Common deductible home improvements for accessibility

• Widening doorways
• Installing stair lifts and ramps
• Installing voice-activated control systems
• Installing handrails and grab bars throughout the home
• Converting standing showers and tubs to include accessible seating

Eco-friendly home upgrades

In case helping out the planet (and lowering your utility bill) wasn’t incentive enough to go green, many home improvements for energy efficiency can help you qualify for more tax deductions. Barring very few exceptions, these deductions can only apply to your existing home, not a new home you’re constructing from the ground up. 

Common deductible home improvements for energy efficiency

• Installing ENERGY STAR-rated doors and windows
• Installing ENERGY STAR-rated appliances
• Installing solar panels
• Replacing insulation materials

Pro Tip: What does an ENERGY STAR rating actually mean? ENERGY STAR-rated products meet strict energy efficiency standards set by the US Environmental Protection Agency. Learn more here.

Home office additions

If you run a business from home, you may be able to deduct that space from your taxes. In general, your home office needs to be an exclusive part of your home that you use only for conducting business on a regular basis. Your home office should also be your principal place of business. If you spend 9-to-5 at a storefront and use your home office to catch up on overtime tasks, that home office space likely won’t qualify. 

Common deductible home improvements for your home office

• Installing new equipment needed for work (such as a new printer)
• Renovations made to your entire home that impact the office (such as new floors throughout)
• Repairs made to the office exclusively

Pro Tip: Most home office tax deductions are based on the percentage of your home’s square footage that the office occupies. So, first things first, bust out that measuring tape.

Improvements made to sell your home

If you sell your home for more than you paid for it, that’s called capital gain. And in tax world, capital gain is, you guessed it, taxable. Luckily, it’s possible to reduce the amount you’re taxed for that capital gain based on how much money you invested in the home. Even if those renovations weren’t necessarily made with a sale in mind at the time, you could still qualify. 

Common deductible home improvements for home sales

• Structural additions, like a new garage
• Landscaping installations, like a swimming pool or firepit
• Plumbing or HVAC upgrades
• New flooring

As a general rule of thumb, upgrades required to maintain the livability of your home do not qualify. For example, the cost of repairing a leak in the ceiling won’t be eligible for a deduction.

Other potential home improvements for tax deductions

If you own a rental property, home improvements generally are not deductible. However, you may be able to deduct the cost of necessary repairs to the property. Whether or not a home improvement project on a rental property is considered deductible essentially comes down to whether that repair was necessary to make the home livable (deductible) or whether it was simply enhancing the space (not deductible). Additionally, you should look into specific state or local tax deductions for home improvement projects. Depending on where you live, you may have more options than you think.

Bottom line? Homeownership can offer so much more than just a place to live. Tax deductions for home improvements are just one way to make the most of your investment.

This material has been prepared for informational purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors before making the decision to buy or refinance a home.

Not only can renovations boost your home’s value, but some projects could qualify you for more tax deductions.

The post Top Home Improvements for Tax Deductions appeared first on Cardinal Financial.

3 Key DIY Home Renovation Tips

• Decide which projects you’ll DIY, and which you’ll leave to the pros
• Budget for more than you think you’ll need
• Work on one project at a time

Decide which projects you’ll DIY

As a general rule, you’ll want to avoid DIYing projects that require permits (this will vary depending on where you live, so do your research before you start). Similarly, projects involving your electricity, plumbing, and HVAC system are better left to professionals. So, what projects can you DIY?

Demolition

As long as you take proper safety precautions, demolition is a home renovation project you can tackle yourself. Just don’t knock down that load-bearing wall, please. And if your home was built prior to 1979, make sure you test for lead paint and asbestos first.

Paint

A fresh coat of paint is a mainstay of DIY home updates. Choose your colors, cover your furniture and floors, and have fun. And if you don’t feel like taking on your whole home, simply painting your front door with a statement color can boost your curb appeal.

Fixtures and finishes

Swapping out light fixtures, switch plate covers, and cabinet hardware is a simple update that can make a big difference. All you really need to handle this one is the right screwdriver. Since fixtures and finishes are easy to swap out, this is also a good way to incorporate current home decor trends. If you don’t like the look or trends change, updating them again is a simple process.

Drywall (sometimes)

This one really comes down to how much confidence you have in your drywall abilities. Patching up a few holes is a skill every homeowner should have, but large-scale drywall projects are typically not worth the headache of doing yourself. So, if your whole home needs new drywall, call a pro. If it’s a small area, go ahead and DIY (if you want to, of course).

Budget for more than you think you’ll need

An evergreen home renovation tip? Expect the unexpected. That includes your budget, too. While you can save a lot of money by DIYing, you’ll still need to account for the costs of materials and tools in your budget—with wiggle room for any do-overs you may need. Luckily, your mortgage could actually help you finance those home projects. With a cash-out refinance, you can leverage your home equity for cash and use those funds to cover your renovation expenses.*

*Using your home equity to pay off debts or make other purchases does not eliminate the debt or the cost of the purchases, but rather increases the loan amount of your mortgage to be paid according to your new mortgage terms.

Work on one project at a time

Ready to practice mindfulness? One of the best DIY home renovation tips we can offer is to be patient. Tackle one project at a time so that if life happens and you need to pause, your whole home won’t be in disarray. Starting with just one project is also a good way to gauge if DIY is the right choice for you. Sometimes, the work just isn’t worth it and you may decide that professional renovations are a better fit going forward. No judgment here.

If you do opt out of DIY renovations, you may be able to use a renovation loan to roll your mortgage and project costs into one. This can help streamline the process, ensure your contractor is reliable, and lower your up-front renovation expenses.

Bonus DIY home renovation tips

Don’t hit the ground running with your home improvement ideas just yet. Before you go, here are a few bonus DIY home renovation tips to keep in mind.

• Stay flexible. Timelines, budgets, and visions may have to change as you go, so don’t stress if everything doesn’t go exactly to your original plan.
• Collect plenty of inspiration. Having a visual aid to guide your work usually results in a better finished product than freestyling it.
• Ask for help. DIY doesn’t have to mean actually doing everything yourself. Ask for your friends’ opinions on design options, host a house painting party, and make the most of your community resources.

Our top DIY home renovation tip? Understand which projects should actually be DIYed, and which are better left to professionals.

The post DIY Renovation Tips: What Should You Actually DIY? appeared first on Cardinal Financial.

When it comes to home remodeling, the line between what you can do and what you shouldn’t do becomes a little blurry. If you’re thinking about maximizing your home’s square footage or tweaking a few things to optimize usage, you’re going to want to pay attention to the following home renovation tips. They’ll help you stay (mostly) sane during some of the more hectic periods of your upcoming project. 

1. Rushing into remodeling

First things first: Take it easy. Unless you’re a house flipper who just closed on an “as-is” home, and you need to start renovations ASAP, take some time to truly live in your home and get a better understanding of the flow. What you want and what the home needs may not line up exactly, and the last thing you want to do is start a remodeling project before realizing that maybe the original floor plans worked better before you blew out that wall. 

Beyond that, planning is key to project success. Unless you’re flush with cash, you’re probably not going to hire a contractor and start demolition in a short time span. Measurements need to be made, contractors need to be interviewed, plans need to be created, and things like paint, tile, and fixtures need to be picked out. Even a single room can take weeks or months of preparation.

2. Skipping research

Speaking of preparation, research is vital to your home improvement project. On one hand, that means measuring twice (or thrice), sketching out ideas, and perusing color palettes. There’s fun research—like looking at different fixture styles, and not-so-fun research—like crawling under cabinets to see if your pipes are PVC or cast iron. All of this will inform your remodeling project.

On the other hand, it means meeting with more than one contractor, gathering multiple bids, and setting your priorities straight. Here are some tips in that regard:

• Look for local builders who have been in business for several years, have in-house designers, and have plenty of reviews.
• Before scheduling contractor consultations, take some time to read their reviews (including the bad ones, because bad reviews don’t always mean bad contractors).
• Take note of everything, including how the contractor speaks to you during your consultation, whether or not they pay attention to your plans and ideas, and whether or not they show up on time.

3. Not documenting things

Have you ever refreshed TikTok accidentally, or heard a catchy song without remembering to write down the lyrics so you can look it up later? It’s a gut punch of a feeling, right? Knowing that something you liked is now lost to the void, and all you can do is hope that it turns up again someday.

Imagine that feeling with an expensive remodeling project. Don’t be afraid to keep a spreadsheet of products, prices, and contacts. If you come across tile you love, screenshot it. If a contractor scratches your floors, snap a photo.

Documentation can keep you organized, and organization can save your behind and your budget.

4. Choosing the lowest quote

A common rule of thumb is to collect three quotes from different contractors for any kind of project. New windows? Three quotes. New concrete slab? Three quotes. New floors? Three quotes. 

A common rule of thumb is to collect three quotes from different contractors for any kind of project.

Three should be your minimum, and you’ll likely have a high bid, a low bid, and a bid that falls somewhere in the middle. Don’t just choose the cheapest contractor—compare those quotes and consider what they may or may not include. Does the high bid include better quality fixtures? Does the low bid leave out something important? Does one contractor offer a multi-project discount?

While choosing the lowest bid might save you a few thousand dollars now, it could end up costing even more money down the line. Know this: According to the National Association of Home Builders, “more than 30% of all jobs home remodelers perform come from failed DIY projects”

5. Forgetting to budget

Remodeling is expensive. Even simple DIY projects can add up to hundreds of dollars, and more complex work can quickly balloon out of your control.

One of the best things you can do is to know your budget inside and out, and work with a contractor who will work with your budget. That isn’t to say you can’t interview contractors to get “ballpark” estimates, but they’ll be able to give you a better estimate if you come prepared with a number beforehand. 

Different resources (and opinions) exist on the matter, but consider this table before committing to the following project types:

Note: This table uses rough estimates from various resources, including HomeGuide and OpenDoor. We are not affiliated with these resources, and homeowners should perform due diligence on their project estimates before agreeing to anything. 

6. Working without permits

Depending on the scope of your project, and depending on your city’s requirements, permits may be required for your remodel. Those permits may be pricey, and they may even be a hassle to obtain, but they are a must if you want things documented (remember that part?) and done right. 

Electrical work, plumbing, and wall removals will often require permits, largely because any of those three things could have disastrous consequences if done incorrectly. Permits are supposed to help ensure the safety and compliance of your projects, in accordance with local zoning ordinances. 

Consequences of working without a permit include, but aren’t limited to:

• Future buyers backing out of a sale
  • Permits are recorded and tied to your home’s deed. If the projects you complete aren’t recorded, buyers may be wary of what lurks behind the walls of your unpermitted projects.
• Having to tear out and restart the work
  • Building authorities may force you or your contractor to start from square one if they discover unpermitted electrical and plumbing work, which could set your budget back by thousands of dollars.
• Homeowner’s insurance not covering damages
  • Picture this: You want an open floor plan, so you hire someone to remove a wall between your kitchen and your living room. Lo and behold, the ceiling caves in because the wall was load-bearing. Because the work was completed without a permit, your homeowner’s insurance may not cover the substantial damages—leaving you with a hefty mess and an even heftier repair bill. 

7. Chasing trends and clashing styles

Just because it’s pretty, doesn’t mean it belongs in your home. Homes come in many architectural styles—including Victorian, Colonial, Mid-Century Modern, Contemporary, and more. Different styles come with their own defining characteristics, and today’s trends may not always fit your home’s established style. 

For example, a modern door may not match a Colonial home. Likewise, Art Deco design may not jive with a Tudor home. And all-black everything could diminish the charm of your newly purchased Cape Cod cottage. 

Instead of chasing trends, consider design elements that enhance the existing beauty of your home. After all, trends change frequently—the last thing you want is to lose resale value because 2023 was the year of plaster. 

Instead of chasing trends, consider design elements that enhance the existing beauty of your home.

8. Changing plans (too often)

Hey, we get it—sometimes that tile you really loved doesn’t quite fit the space the way you imagined. Short of minor changes to superficial things like paint and tile, it’s best to stick to the plans your designer and contractor drew up. After all, it’s what you’re paying them for, and major deviations to those plans—meaning structural changes and heavy design alterations—could increase your costs and frustrate your contractor. 

A good contractor will walk through the plans with you multiple times before work starts, giving you ample time to adjust before materials are ordered. They may even bring you in for a look before installing something, just to get a gut check. These are your opportunities to make changes, not after tile has already been grouted into place. 

9. Sidestepping safety

Permits, which we talked about earlier, are one element of creating a safe work environment. Here are some other ways you can protect yourself and others when remodeling your home:

• Wearing PPE (gloves, safety glasses, masks/respirators, hardhats, etc.)
• Using fans to help evacuate chemical fumes
• Hanging or laying down plastic sheeting to capture dust and debris
• Disabling electricity at the breaker before beginning demolition
• Testing for asbestos and lead paint (important for older homes)
• Keep your hands clear of sharp objects

Following these home reno tips can help everyone working in your home safe. If the contractor you hired isn’t following these safety precautions, bring it up. There’s no such thing as “too safe” when it comes to protecting yourself, your family, and your investment. 

10. Ignoring your gut

If you ever feel like the numbers aren’t adding up, don’t like the way something is being handled, or think something isn’t quite right, don’t be afraid to listen to your gut and voice your concerns. A good contractor will either listen to your concerns, or explain why alterations had to be made. Ultimately your home’s renovation is just that: your home’s renovation, not anyone else’s. Your gut instincts may protect your investment. 

The post Top 10 Home Remodeling Mistakes to Avoid appeared first on Cardinal Financial.

Locks. Maintenance. Mail. Lawn care. It can seem a bit overwhelming, especially at first, but don’t sweat it. We’re here to calm those nerves with a “welcome home” checklist of 6 homeownership tips that’ll help you settle into your new digs in no time.

Let’s get into it, shall we?

6 Homeownership Tips for Every First-Timer

Change Your Locks

First things first: Replace the set of keys you just got with a new set. This tip mostly applies to those who bought an older home, but those new-build homeowners might want to follow suit.

The simple fact is that you’re never 100% sure how many copies of those old keys exist. You could have the only set, but there could be a few others out there. Luckily, replacing locks is a relatively easy process — and these days, you have more options than you’ll probably know what to do with.

We’re big fans of automation (have we introduced you to Octane?), so we recommend smart door locks. Some products come with keys for unique combinations, some can be unlocked with your phone, and others combine both features with the ease of a traditional metal key. No matter your selection, replacing your locks can help you feel more secure at home.

Scout the Sewer Lines & Septic Tank

Sure, the house looks great on the outside, but who’s to say if the previous owners loved to flush baby wipes? ‘Getting sewer lines and septic tanks scoped during the inspection is our official recommendation, but in case you had to sidestep an inspection to close the deal, getting it done after the fact is just as helpful.

This isn’t just to check for blockages — it’s to check for damaged and leaky pipes as well. These problems can lead to backups, flooding, foundation damage, and a host of health risks.

Flush Your Water Heater

We’d like to think that houses are as well-kept as a certified pre-owned car with a complete history of repairs and upgrades. The simple truth is that you can never be 100% sure of what the previous owner (or builder) did to ensure every piece of equipment is in as good condition as possible.

Water heaters are a big thing to look out for, and flushing them is a relatively easy process that doesn’t necessarily require a professional plumber (but hey, if they’re there to scope your sewer lines…).

Water heaters should be flushed at least once a year. When they go without flushing for extended periods of time, sediment builds up and corrosion becomes a concern. This sediment can decrease your heater’s capacity, hurt its performance, and in the most serious cases…could have explosive results.

A simple annual flush can save you from a sizable repair bill down the line.

Caulk The Cracks

Drafts pose a danger to your energy bill and cracks allow all sorts of critters to crawl in. A few tubes of caulk can help seal window cracks, repair minor roof damage, or protect your bathroom from water damage.

Clean & Replace Filters

Breathe easy, buyer. Changing the air filters when you move in is good for myriad reasons: First, you get to see what size filters are needed throughout the home. Second, you’ll be able to rest easy knowing the filters you put in are new and up to standard.

But don’t stop at air filters. Dishwashers, refrigerators, washing machines, and dryers all have filters or screens that can be cleaned or replaced. Replacing or cleaning these items can prevent blockages and keep equipment in good working condition for years to come.

Find Out When Trash Day Is

A simple task, but a helpful one. After all, no one wants to be the neighbor who puts their trash out on the wrong day, at the wrong time. Knowing when the garbage truck arrives (and how to arrange bulk pick-up) will also help you plan any home improvement projects. Your neighborhood’s schedule can usually be found online.

While you’re at it, find out if recycling is a required activity or if it’s something you’ll have to handle yourself. Some locales require recycling, and sometimes recycling bins are picked up on non-garbage days. If your area doesn’t provide a recycling bin or have a designated ordinance for the activity, it’ll likely fall on you.

Confidence: Restored

These simple 6 homeownership tips should help you feel more at-home in your new home — but here’s one last tip: If you’re ever overwhelmed by the projects ahead of you, make another list and order them by importance. Not everything needs to be tackled right away, and not every problem requires a professional solution.

Your home is your responsibility, but we’ll make sure you don’t go it alone.

Not everything needs to be tackled right away, and not every problem requires a professional solution.

The post The “Welcome Home” Checklist: 6 Homeowner Tips to Help You Get Settled appeared first on Cardinal Financial.

In 2020, we all had to get creative with how we used our space. (You know what we’re talking about — Pelotons in our living rooms and Zooms in our master baths). Some homeowners made their houses more livable with renovations during the pandemic, while others made minor upgrades to improve their existing space. Here’s a list of eight trends that homeowners adopted over the past year that can give you some inspiration for your next remodel, DIY project, or even your house hunt!

Refinance

1. Dedicated Home Offices

With offices shut down and so many of us working remotely in 2020, it’s no surprise that more homeowners needed a sacred space to get work done. Some chose to partition off common areas, like living rooms and kitchens. Others permanently set up shop in their guest bedrooms, basements, or bonus spaces so that they could buckle down in peace. Many companies are now embracing the benefits of having employees work from home, so it doesn’t look like this trend is going away anytime soon.

2. Better Kitchen Storage Solutions

They say the kitchen is the heart of the home. With families preparing breakfast, lunch, dinner, and snacks there in 2020, things got a little chaotic. Many homeowners have opted to create better kitchen storage solutions, like built-in appliances, deep pull-out drawers, or a spacious island for seating and food prep. After all, it’s a lot easier to jump on the banana bread bandwagon when you have an organized pantry or substantial counter space.

3. Space for Entertainment

Typical entertainment options like concerts and movie theaters were limited in 2020, so some homeowners figured out ways to bring the fun to them. Home theaters became particularly popular (and not hard to DIY), as did recreational rooms with features like climbing walls and indoor bowling lanes. Hey, if you’ve got the basement space, use it!

Are open floor plans losing their appeal? Some home design experts expect buyers to look for homes with more walls—and fewer shared spaces—in the future.

Purchase

4. Home Gyms

While gyms were closed down or operating at limited capacity in 2020, health became more of a priority than ever. There’s been plenty of demand for in-home fitness equipment over the past year. Many homeowners have renovated a guest bedroom or basement area into a dedicated fitness space. With a little out-of-the-box thinking (say, installing a climbing wall next to the bench press?), some exercise enthusiasts have turned a rarely-used room into a sanctuary to get their sweat on.

5. More Walls, Less Open Concept

Open floor plans have been all the rage in recent years. But many homeowners discovered their spaces felt, well, too open during the pandemic. After all, it can be hard to focus on your video conference when your pets and kids are all up in your business. Creative room partitioning served as a temporary solution during quarantine days. But some home design experts expect buyers to look for homes with more walls—and fewer shared spaces—in the future.

6. Upgraded Outdoor Spaces

With all the time we spent inside our homes in 2020, it was only natural to want to get outside. Creating a comfortable, enjoyable outdoor space has been top of mind for many homeowners. Decks and patios are current popular renovation projects, while buyers focus on finding homes with lots of backyard space.

7. Going Green and Saving Green

Keeping a home energy-efficient is a perk for both the environment and the wallet. Some people invested in “green” initiatives over the past year, like airtight windows, new insulation, or HVAC upgrades. These improvements can help lessen the risk of heated or cooled air leaking outside, resulting in wasted energy and air. Updating the air-conditioning system can also improve a homeowner’s air quality.

8. Spa-like Bathrooms

Believe it or not, the bathroom became a popular escape for many homeowners in 2020. To level up the tranquility, some homeowners invested in soaking tubs, steam showers, built-in Bluetooth speaker systems, and massaging showerheads to create a sanctuary for de-stressing.

Takeaways

Has 2020 changed the way you think about your home space? Whether you’re interested in buying a new home, selling your current one, or upgrading your existing space, these 2020 home trends can add plenty of value.

What were some of the home trends you noticed in 2020? Tell us your thoughts on Facebook or Twitter!

The post 8 home trends from 2020 that are here to stay appeared first on Cardinal Financial.