Smart Renovations to Increase Your Home Value
There is always a big debate on what renovations a homeowner should undertake if they are looking to sell their property. Small renovations can make a huge difference in a house (and the overall home value), while others call for a major renovation as the way to go. Every homeowner has to assess their own home to decide where their renovation money is best spent.
Thinking About the Sale
Making renovations to sell a house is vastly different than making renovations to live in a home. The renovations when selling needs to match what a buyer would want. This means that the homeowner’s personal taste should be muted.
Many renovations can help boost the home value by up to ten percent. This can make a major difference when selling.
What Buyers Want
Buyers all have different tastes. Every homeowner wants something different from their home and their décor and renovation choices will be different.
When planning a renovation during a sale think about choices that can appeal to any buyer. This means avoiding major renovations that follow trends since these trends may no longer be popular when selling.
Color
The easiest update to a house is to fix the color scheme. Neutral colors may not be the first choice for a homeowner or a home buyer, but they are a good background for people to imagine their own designs on.
Choose colors for paint or carpet that are grey, white, or brown. All of these colors are not too abrasive and will fit with many décor choices. This is the cheapest update to make that can really help a house sell.
Finishing Touch
Once the house is painted a homeowner may consider really completing the new look by adding crown molding. This can cost a little more depending on the area that needs to be covered. Popular areas include door frames, cabinets, and even the top of a wall. Most people will spend upwards of five hundred dollars to complete this look and give the room a more sophisticated tone.
Bathrooms
A bathroom is one of the most expensive renovations to start because there can be electrical work and plumbing work included. Even though bathrooms are usually a small area in the house, many people expect their bathroom to look immaculate. It is always impressive to see a fully renovated bathroom in a home for sale.
Buyers love the idea of a more luxurious bathroom. As a result, many homeowners are opting to open up the room and create a larger space. This creates a more spa-like experience instead of leaving the room cramped and dark.
To avoid spending too much simply replace small items like the lights, door handles, and faucets.
Kitchens
Everyone is looking for a gourmet kitchen. The idea of cooking family meals or having friends over for dinner is appealing. That means people are looking for an old kitchen to be opened up and for them to be updated to become a centerpiece in the home.
New appliances will capture a buyer’s attention. Replacing cabinets or countertops can help to rejuvenate an outdated kitchen. Adding in extras like a wine fridge, large island, or extra storage are added expenses that can help draw in more interested buyers. However, the more spend on a renovation the less money a homeowner will recoup.