![Reaping the Rewards of Renovations]() Reaping the Rewards of RenovationsBefore swinging the hammer, it’s important to nail down your renovation goals.
With housing costs high, homeowners are thinking carefully about whether to renovate or sell.
Renovating your home can be exciting, but before you start tearing down walls, ask yourself one key question: Why are you renovating in the first place?
For example, are you staying put in your current home for 10+ years so you can enjoy your updates, or are you looking to add value because you plan on moving soon?
Or are you perhaps looking to make your older home more energy efficient? Whatever the reason, here are a few points to consider if you’re thinking about renovating your home:
Street Smart The key to generating a decent return on your investment is to renovate in line with the other homes in your area so that it’s not over-improved.
Future Proof Building an addition can make sense if you plan on staying put for a while, but it may not always be a wise investment if you’re thinking of selling in the near future.
Kitchen Capital It’s important to renovate the right areas of your home. The kitchen, for instance, will often yield the greatest return on investment.
Royal Flush The bathroom is another worthwhile area of the home to invest in. A few simple cosmetic upgrades and a new coat of paint can help create a spa-like atmosphere.
Window of Opportunity Energy-efficient windows, especially on an older home, are an attractive feature to buyers. They’ll also significantly reduce your utility bills if you plan on staying in your home for a while.
Go Green An eco-friendly home is a healthy home, so use paints that have zero VOCs. If you’re thinking about replacing the floors, consider environmentally friendly materials such as bamboo or cork.
Think Outside the Box Investing in landscaping will usually drive up your home’s value. Some well-placed trees and shrubs will also reduce your utility costs by providing shade and shelter from the wind.
If you decide to renovate your home, don’t forget to snap some before-and-after photos. Seeing the transformation unfold is one of the most rewarding parts of renovating!
Home renovations don’t have to break the bank, as small, budget-friendly upgrades like swapping out hardware, lighting or a fresh coat of paint can make a huge impact.
If you’d like some advice on which updates will add the most value to your home, please don’t hesitate to get in touch. It’d be great to hear from you! |