Renovating a property has many benefits. When the house is ready to be sold you will be able to perceive the economic advantage you create to yourself by doing a few modifications to the house to make it suitable for the market.
Get excellent value for your money by doing a renovation that allows you to recoup your expenses.
A luxury bathroom with a tiled walk-in shower or spa tub is always pleasing. An expensive stove and pantry system for the amateur chef in the family is appealing. Converting the attic into a man cave or mom’s craft room sounds delightful. Regretfully, these lose to more pragmatic options.
The first place to look is at curb appeal. Does the house need new siding or a new garage door? Could the sad, patchy grass be replaced with dry landscaping. Is the roof in good shape? While you are up there, check the gutters and see if they need replacing.
Next, consider the invisible, but essential and practical items. Are the windows outdated and letting out the warmth? Does the house need better insulation? Are your heating and air conditioning units modern and in good condition? Least sexy of all, consider a back-up generator.
Less Pragmatic Options
Perhaps your market will appreciate a carpentry shop in the basement instead of the garage. Maybe they desire a fantastic deck with built-in cooking space and a pavilion. But then converting the basement into a recreation space would be fun for a whole family.
You want a high return on investment, and thousands of dollars spent on a preferred project will not yield that. Remember that the value of the home is relative to their neighbors. Therefore, a $100,000 renovation will not pay out in a $150,000 at the max neighborhood. Find the balance between maximizing the cosmetic properties and not out pricing the area.
The next considerations are decided based on the project. Vinyl siding or high-end fiber-cement siding? If the neighborhood is already high-end, follow suit. An outdated kitchen is always a good option, but do not splurge on the appliances unless you plan on taking them with you. A marble countertop is overkill for a $250,000 house. High-efficiency appliances, brighter cabinetry, and more functional plumbing are a sound investment.
Why Home Sellers Should Consider a Home Renovation
Do you doubt that a renovation is worth the expense and hassle? You need to be one step ahead of the people of the area when you are ready to put that house on the market. A renovation may be just enough to increase its equity.