Home renovation is something most American homeowners do at some point. You may invest in a remodeling project for different reasons, such as improving aesthetics, adding functionality, or creating more space. If you have an old home that needs extensive repair, a comprehensive makeover can be a good option.

The U.S. Houzz and Home Study conducted in 2022 showed an interesting development. The median spending on renovation projects increased from $15,000 in 2020 to $18,000 in 2021, accounting for a hefty 20%. The steep rise was the first time since 2018 when people planned to spend more on such projects than the previous year.

A large-scale renovation to transform an outdated living space into a modern home may cost more, but it can be worthwhile. You can achieve the best results without breaking the bank with thoughtful planning and strategic updates.

We have the best renovation advice to help you create a modern haven while preserving the unique character of your home. 

Preserve What You Like

According to recent data, 55% of homeowners in the US reported renovating a part of their property in the past year. When you want to invest in a large-scale project, think beyond ripping everything apart. Before diving into renovations, consider the defining features that give your property its architectural charm. 

dSPACE Studio architects share the instance of a Chicago home in Wicker Park’s landmark district. The 1890s home had fallen into disrepair. It was renovated with a new design that respected its old character while adopting a modern look and feel. 

When it comes to preserving what you like, you can retain elements such as hardwood floors, crown moldings, and ornate trim work. Instead of replacing these elements, you can enhance them. Try refinishing hardwood floors to accentuate their natural beauty. You can repaint intricate moldings in a trending color palette to make them pop. 

Open Up Spaces

National Association of Home Builders notes that home size in the US is trending lower as housing affordability remains constrained. It will likely be the same in the future. Opening up your living space should be a part of the renovation process. Older homes have compartmentalized layouts that feel cramped by modern standards.

Your designer will recommend removing a few walls to convert smaller rooms into larger, multi-functional areas. Consider an open-concept layout that improves flow and maximizes natural light. Also, consider traffic patterns and ensure each part of the layout serves a distinct purpose. Add skylights and full-length windows to enhance the sense of openness.

Embrace Minimalism in Design

According to House Beautiful, minimalism never goes out of style, whether you choose to stick with the old décor or move to a contemporary one. It is a lasting aesthetic in the design world. Besides being appealing, these designs are relaxing, calming, and clutter-free. Fortunately, contemporary designs are inherently minimalist, with an emphasis on clean lines, simplicity, and functionality.

Start by decluttering your old home and paring down decorative accents to create a blank canvas for a fresh look. Refurbish your living space with multifunctional furniture pieces, such as nesting tables and storage ottomans. Incorporate natural elements such as wood and stone to add warmth. A minimalist new décor elevates your home’s décor without burning a hole in your wallet.

Incorporate Smart Technology

The smart home trend is catching on in the US, and these technologies make a necessary investment for a contemporary living space. In 2023, 60.4 million American households actively used smart home devices, with an average per capita spending of $1,172 on smart-tech household electronics. Moreover, 60% of people agree that smart technology affects their lives positively. 

Incorporate smart technology into your renovation wishlist to enhance comfort, convenience, and efficiency. The best part is that you can save on energy bills and get a step ahead toward a sustainable lifestyle with these appliances. Besides the current benefits, these devices add value to your property in case you want to sell it later.

Programmable thermostats, connected kitchen devices, and smart lighting systems make excellent additions to a contemporary home. With features like remote diagnostics and energy monitoring, these appliances can simplify daily tasks, reduce utility costs, and minimize your carbon footprint. Similarly, smart locks and motion sensors can protect your investment.

In conclusion, renovating your old home and transforming it into a modern living space goes beyond minor upgrades. You should think outside the box, plan the project well, and work with industry-leading experts.  Following these tips will set you up for a successful project, whether you want to make incremental updates or embark on a full-scale renovation.