Best Home Renovations for Value
Not all home renovations yield the same results. When you’re considering a home renovation, no matter how big or small, it’s important to analyze the reasons why you are doing the remodel. Many people choose to customize areas of their home to fit their needs and desires. This is great while you’re living in the home, but it may not always be the best option for resale. Here are a few home renovations that will give you the best return on investment.
- Kitchen. Perhaps you have heard the phrase, “you’re not selling a home, you’re selling the kitchen.” This is because the kitchen is often a make-or-break feature for many home buyers. If you have a substantial budget, opening up a kitchen with a complete renovation can make the space feel larger and more inviting. Even if you have a smaller budget, updating appliances, cabinets, and a fresh coat of paint can help you see a decent return on your investment.
- Bathroom. An outdated bathroom can be an eyesore for potential buyers. Get rid of any dated hardware, faucets, and tile, and upgrade to something clean and neutral. Try not to get too gender specific with coloring, especially in a master bathroom.
- Attic Bedroom. Some homes have the perfect layout for an attic bedroom. While these can be expensive, they can return a fair amount of your investment, especially in a smaller home with few bedrooms.
- Basement. An unfinished space in the home, such as a basement, is often the best place to enhance your property with a home renovation. Adding an extra bedroom and bathroom to a basement can increase the value of your home significantly.
- Flooring. While this may not seem important, an outdated space with old carpet can feel stodgy. Renewing the home, or even just a few rooms, with a flooring upgrade can make everything feel clean and fresh.
Things to keep in mind when choosing home renovations:
- Styles change quite frequently. Don’t renovate your home in a style that will be outdated by the time you want to sell. On the other hand, if you’re looking to sell right away, choosing something that is currently trendy may actually attract more potential buyers.
- Don’t overdo it. It’s easy to get carried away with home renovations. Going over the top with updates in an older neighborhood won’t yield as high of a return as you might expect. Updates are good, but it’s important to know when enough is enough.
- Keep things in balance. An updated room is great, but it can quickly be forgotten if the rest of the house falls short. If you have a budget for home renovations, commit a small amount to updating the rest of the home with a fresh coat of paint. Pain can make a huge difference.
Home renovations can be an exciting project or a major headache. If you are uncomfortable handling a project, we highly recommend you hire a licensed contractor. Also, before you start any home renovations, it’s important to research any permits you may need to acquire. When it does come time to sell, the home inspection experts at Inspect-It 1st® will be happy to give you an honest and thorough inspection of your home.