When it comes time to sell, it’s important that your home stacks up well against the competition. In order to have it look its best, renovations are sometimes necessary.
The key to generating a decent return on your investment is to renovate in line with other homes in your area. Here are a few tips to keep in mind if you’re thinking of renovating:
- Get Cracking – The kitchen will often yield the greatest return on investment. A welcoming kitchen that’s functional and up-to-date will be very attractive to buyers.
- Clean Up – The bathroom is the second most important room in the home in terms of valuation so renovating an existing bathroom or installing an additional one pays off.
- Go Green – An eco-friendly home is a healthy home so if you’re thinking about replacing flooring for instance, use environmentally friendly materials such as bamboo or cork.
- Landscaping – Adding a few perennials is an easy way to improve your home’s curb appeal. A few well-placed trees and shrubs will reduce utility costs by providing shade and shelter.
- The Convert – If you converted a bedroom into a home office, consider returning it to its original state. Buyers are more concerned with the number of bedrooms than having a home office they’ll never use.
Homeowners should try to achieve a balance between their individual wants/needs and making sure they don’t pour money down the drain. Your improvements should be an investment, not an expense so if you ever have any questions on how renovations will affect the value of your home, please don’t hesitate to get in touch.