The place where you live needs regular maintenance and upkeep. Not to mention, home is one of the most important investments you make in life.
While renovation makes your house look good, it also adds to the resell value. Home renovations can be tricky, and many people make mistakes in an attempt to add value to their homes. Before investing, it is important to consider the cost versus the value.
Renovations that Add Value to Your Home
1. Curb Appeal
Curb appeal, i.e., the exterior of your house, is important. It increases your home value by 5%. Make sure that
- It is properly painted
- Lawn space is maintained
- The driveway is paved properly
- Outdoor furniture also enhances the décor
2. Fresh Coat
Sometimes all your house needs is a fresh coat. It is the quickest value addition investment. However, make sure to go for neutral paint colors as they make the room look spacious and brighter. Also, choose the right time for the new coat.
3. Create Space
Dark rooms don’t have much appeal in real estate. For creating a flow, you may knock down some of the walls. First, it helps the natural light to flow in. Also, the open floor will make your space more functional and spacious.
4. Upgrade your Bathrooms
Outdated bathrooms are a big turnoff. If you can’t add a bathroom, you can invest in the existing ones. Upgrade the amenities and fixtures, add new tiles, and apply a fresh coat.
5. Renovate the Kitchen
A functional kitchen adds value to your home. Make sure it has all the latest amenities, such as custom cabinets and stone countertops. Keep the cost of your home in mind; will it recoup your investment?
Worst Renovation Attempts
1. Excessive Personalization
Giving a personal touch to your home is fine, but at a certain limit –especially if you plan to resell. Perhaps, your potential buyer won’t like the customized wallpapers or fixtures. So, don’t only consider your taste and needs when renovating a home.
2. Changing the Layout
During the renovation, making drastic changes to the layout is a gamble. Creating a large master suite is one of the major trends these days. However, a buyer who is looking for a certain number of rooms won’t be interested in it. So, more designated bedrooms are better than less.
3. Eliminating the Bathtub
Luxurious showers have become a top choice when it comes to renovating bathrooms. However, getting rid of all bathtubs is a big NO if you plan to resell your home. Factor the neighborhood demographics; if not more, keep at least one bathtub.
4. Hobby Spaces
Having a hobby is an enriching experience, and many passionate hobbyists designate hobby rooms in their homes. However, space won’t attract a buyer who does not share the same passion. So, don’t waste your money and efforts on hobby rooms.
5. High-End Home Improvement
Finally, it is important to consider the worth and ROI of each renovation project. For instance, before investing in expensive light fixtures or door hardware, consider if that adds value to your home.