Unfortunately, not everyone can afford to buy the home of their dreams. In addition to your finances, other factors that may affect your ability to buy your dream home include where you live (influencing the price of homes) and the type of amenities you wish to have in your home.
The good news is that you do have a few options that can get you closer to your dream home. If you’re thinking about taking out a loan for this construction in the state of Florida, Space Coast Credit Union has written a useful guide worth reading.
Below are four ways to get closer to that dream.
If your dream home consists purely of cosmetic upgrades, then you can invest in home renovations. Renovations are home improvements that make cosmetic changes to your home, so this is the easiest way to get your home to look the way you want it to look. You can renovate virtually any part of your home, but the most common home renovations are:
- Bathroom renovations
- Flooring upgrades
- Kitchen renovations
- Painting the walls
Upgrading the lighting in your home, changing out the hardware, and doing other small tasks can make a difference. When renovating your home, don’t forget to make changes/upgrade the exterior. This includes roof and siding replacements, garage door replacements, and even painting the exterior of your house. Although most renovations can be D.I.Y., ones that require working from a height should always be done by professionals.
Remodeling is another type of home improvement, but instead of making cosmetic changes and repairs, it involves making structural changes. Remodels include knocking down walls and installing new electrical, turning porches into sunrooms (click here for more on that) and plumbing fixtures.
Open-concept floor plans are very much in style now, but many homes don’t have this layout. This is where knocking down walls (such as the one that separates your kitchen and living room) can change the layout of your home.
Other home remodels include:
- Finishing an attic
- Finishing a basement
- Transforming a bedroom into an exercise room
- Transforming a porch into a sunroom
Remodels are hardly ever D.I.Y. projects, so always call a professional if you want to remodel your home. Professionals can safely knock down walls and install electrical or plumbing fixtures without causing major damage to your home. They also know how to obtain building permits and make sure the remodels align with building codes.
Another way to get closer to having the home of your dreams is to add onto the home you already have. One of the easiest ways for some homeowners to create more space in their homes is to finish their basement, attic, or even garage. But if you don’t have a basement or garage or your attic can’t be converted into a living space, the only other option is to build onto your home.
Some home extensions may even allow some single-story homes to be converted into two-story homes (building up instead of building out). Adding onto your home is considered to be a home remodel, so this is something that must be done by a professional.
Not all homes can be remodeled (whether within or adding on something new), so it may be necessary to just start from scratch. In fact, when buying a new home, many people choose to custom-build their homes instead of moving into an already existing home. This is an option if you’re already planning on selling your current home, but not so much if you’re not trying to move.
However, you can build your own cottage as your vacation home— a home that’s located outside of your primary city of residence. This way, you can remain in your home but also have your dream home in a luxury destination location.
This option will also allow you to make any renovations or remodels to your current home (if possible) in the future, and you’ll have a pretty impressive real estate portfolio by owning more than one property.
Don’t be discouraged if you’re no longer satisfied with the look and layout of your current home. Interior design styles and decor change all the time, so the majority of people wish to change a few things about their home— or change homes altogether. Changing the layout of your home (remodeling it) may not be possible for everyone, but the good news is that most design styles work with any home layout. You also have the option to invest in more real estate and create your dream vacation home.