Home renovations can be fun, but they can also be costly. If you are planning to sell your property at some point you want to be certain that your home renovations will generate a good ROI. Some renovations may enhance the selling price of your property while some may not.
We’ve all heard that kitchens and bathrooms will sell a home. While that may be true, they do not always see the best ROI. There is no doubt about it, buyers do love updated kitchens and bathrooms, and modern kitchen appliances are an attractive feature, but be realistic with your budget; sometimes a minor kitchen or bathroom remodel is all you need. Be mindful of colors and patterns; keeping it simple poses less risk of turning-off potential buyers. It is best to stick to a neutral color palette and avoid trendy patterns, hardware, and fixtures. Neutral and timeless choices are your safest bet.
The appearance of your home on the outside is just as important as it is on the inside. When it comes to curb appeal often some simple do-it-yourself landscaping, a little bit of lawn and garden manicuring, tree pruning, and the like can be very budget friendly and will draw the eye of interested buyers. Interestingly, exterior renovations are said to be the best bang for your buck when it comes to home renovations ROI. Garage doors are real curb appeal enhancers and will generate one of the highest ROI’s when it comes to home renovations.
Buyers tend to pay a little more for finished basements. If this is an area of your home that will provide you with added living space and enjoyment it will be a worthwhile investment that will add value to your home.
Before starting any home renovation project, plan your budget and always get quotes. Only hire reputable tradespersons who will supply quality service and work. It will be worth it to have peace of mind knowing you have added to the quality and value of your home and have decreased the risk of any potential costly mistakes while doing so.