Renovating a home is generally a costly affair. According to the National Association of Home Builders, United States home-owners invested more than $114 billion in renovations in 2009. Due to the current state of the economy, many owners prefer to renovate their homes before investing in a new property.
But not all renovations are the same. Although the goal of refurbishing a property is to create a more comfortable space for its residents, it’s a good idea to consider what kind of value a renovation would add to the home, so that if you decide selling it, you can make the most of your sale.
The following renovations are sure to increase the value of your home:
If you don’t want to invest too much time or money, invest in a fresh coat of paint, new lamps and flooring. Other projects like installing a new shower, a bathtub, and double sinks would be a bonus but might not be necessary.
If you want to invest more, adding a completely new bathroom can substantially increase the value of your home. To make the most of its potential, it is best you engage the help of a professional because you needed permits and blueprints. And remember, keep the renovation simple – you might think everyone loves a smart shower, but the truth is not all buyers might be willing to pay the price.
Kitchen renovations are generally the costliest of all but they can certainly help you add dollar signs to the value of your home. The kitchen is the hub of the home, and buyers put a lot of emphasis on a functional and warm kitchen.
You can do all sorts of things to your kitchen, but always try to follow the same rule: do not do anything too personal. It would be easier to find buyers who like a white kitchen than a lilac one. A simple renovation will return the most money.
If you want to refresh your kitchen without spending a lot, then, make small changes. Instead of changing the cabinets, paint them. Give the walls a new coat of paint. Improve the lighting or change the floor.
The first thing buyers see is the exterior of your home. Your garden is your chance to give them an excellent first impression, especially if you live in a place where you can spend time outdoors most of the year. Make sure the grass is smooth and there are no sunburned sections.
Energy efficient windows are a good investment for any home, as buyers will be attracted to the idea of saving on utilities. New windows will also give you a more fresh and contemporary look to your home without spending too much money.
A fresh new paint can make a sad and tired home look like new again. Get help from a professional if you are not good at painting, so that the finished products look neat. Also do not forget the same rule we mentioned before – simplicity. Choose neutral colors that won’t clash with the taste of most buyers.