The Seven Best Things To Do When Renovating.
How can you know for sure?
When you’re making renovations to a home, how do you know what is a solid investment? A worthy update can either serve to reduce your cost of living while you remain in the home or add significant value to the home’s sale price when you decide to put it on the market.
Throughout any renovation process, it’s key to consider mass appeal for the sake of resale value. You can’t guarantee you’ll find a buyer with a specific style preference or interest, so leaning on the side of neutrality helps prospective buyers to personalize after they’ve purchased the home.
It helps when the preferences of the general public are obvious. For example, a recent Angie’s List survey of more than 100 real estate agents across the U.S. found more than 68 percent believe having a fireplace in a home increases its value. The vast majority of real estate agents – more than 83 percent – see fireplaces adding between $1,000 and $4,999 to the home’s value, according to the survey. While such an increase doesn’t necessarily warrant adding a fireplace where there wasn’t one before, it certainly gives reason to maintain or update a working fireplace for the next buyer to enjoy.
For other updates throughout the home, the kitchen and bathrooms are certainly spots to focus on, even if you can’t afford to do a complete renovation.
Whether you’re planning to remain in the home for a while or looking to renovate and sell, here are some updates that experts today say will give you the return on your investment.
The quickest way to make a room look new again is to add a fresh coat of paint. Paint has one of the highest returns on investment, but the color choice and the contrast and the variety that you use can have a big impact. Gray is currently a popular color to use, and it comes in a wide variety of shades to offer a different atmosphere as needed. To make it worthwhile, keep any newly painted rooms neutral. Homebuyers often see the amount of work that would go into painting over a bright red wall, and may even ask the seller to paint over it themselves.
Adding a backsplash to your kitchen can take make a world of a difference, and it doesn’t have to cost a lot. “You can update a kitchen very easily by painting it and adding a backsplash. A backsplash isn’t particularly difficult to install yourself and doesn’t take long to do, but it’s not a project to complete sloppily if you want it to add value and appeal to your home.
Granite countertops are a favorite for many homebuyers. The Zillow Digs report notes listings mentioning granite sold for 4.1 percent more than expected. But adding granite won’t necessarily have the same return on investment in every home. Cabinets. Attractive cabinets are key to an enticing kitchen, but that doesn’t necessarily require brand new cabinets. The Zillow Digs study found listings mentioning Shaker cabinets specifically sold for 9.6 percent more than expected. If you’ve got the classic five-piece, framed look that embodies Shaker cabinets and they’re in pretty good shape, refinishing or painting is a great alternative.
The bathroom is another key room for buyers, so giving it a facelift prior to sale is important. Like the kitchen, you don’t necessarily have to do a massive overhaul. Replacing fixtures here goes a long way.as well as adding new cabinets.
If you have a funcioning fireplace, don’t get rid of it. Of the real estate agents surveyed by Angie’s List, 54 percent said a gas-burning fireplace increases the home’s value most, though a survey of 2,000 homeowners and homebuyers showed 58 percent prefer to have a wood-burning fireplace at home. But what seems clear is having a fireplace of some kind is a positive for your home value.
The trendy sliding door is a great way to add an updated look to the room, and it’s a relatively simple update with little cost or fuss. Especially if your bedroom closet doors have seen better days, consider a barn door to replace it. But chances are adding a barn door in place of updating a kitchen appliance or the bathroom vanity in desperate need of attention isn’t going to help your resale value.
Often undervalued by homeowners when they put their home on the market is the curb appeal of the home. This is the first thing any house hunter will see when they come to tour the home! Seed any dead patches of grass, mow the lawn regularly and add a bit of color with flowers or bushes. (More Information)
Renovate and Sell with Renovator Realty of Texas
At Renovator Realty of Texas we take pride in getting you the maximum return when selling your home. We have no cash down programs available and any extra profit from the sale goes into your pocket. Let us show you how “We Lead Sellers To More Profit” (Renovate and Sell For More Profit)
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