Renew means renovating or rebuilding so that something is in good condition. When you move to an older home, you'll likely want to renovate the kitchen and bathrooms. Most uses of the word renovate revolve around buildings and architecture. For design and construction professionals, the words “remodel” and “renovate” have two very different meanings, although are used interchangeably.
Remodeling is the process of changing the functionality and design of an area. It may involve tearing down a wall to enlarge a bathroom and reconfiguring the kitchen layout so that the cabinets, refrigerator, sink, and stove are in different places. Building an addition to your home would also be considered a remodel. However, remodeling doesn't always involve major structural changes; it can be something as simple as converting a guest room into a home office.
If the purpose of the area has changed, it has been remodeled. Renovations usually involve some restoration work. For example, you can repaint walls or cabinets or replace accessories or hardware. You can update old or outdated items.
Renovations are works that revive a room or a house, but don't change the design. They can also be used to add value to a home before it is offered for sale. Because of this, renovations are often small-scale projects. Because renovation usually costs less and because it involves repairing and updating the basic features of a home, homeowners often see a better return on investment in renovation projects than in remodeling projects when they sell their house.
The magazine Remodeling publishes an annual analysis of the cost in relation to the value of common home improvement projects and notes that renovation projects, such as replacing an entrance door or garage door, or changing the siding of a house, will generate an ROI for the owner of approximately 75 percent, 98 percent and 76 percent, respectively, when the house is sold.
