Are you thinking of renovating some areas of your home? While this can transform a home, making it a much more comfortable space to live in, how much will it increase the value of your home? It is good to think about, especially if the sole purpose of the renovation is to sell the home for more money. Very often, spending a lot of money renovating your home does not increase its value enough to make it a sound investment. If you are going ahead with the work, however, here are a few suggestions:
The neighborhood you live in plays a major role in determining the value of your property. A costly renovation that makes your home look much bigger and better than the other homes on the street will not necessarily increase the value of it that much, so be sure that any work you do is in keeping with the area you live in.
Sometimes homeowners think that installing a backyard swimming pool will add to the home’s value and be appealing to a buyer but, the reality is that many people are put off by swimming pools due to the extra maintenance that will be required. Families that have young children may also worry about the dangers posed by having a pool in their backyard so you may want to rethink this idea.
When choosing fittings, fixtures, and appliances, think about what will appeal to a potential buyer. It’s usually best to stick to a neutral palette and avoid big bold statements, especially with the more expensive items. Remember that your taste is not always the same as everyone else’s.
So, while a home makeover can transform your home, if you are doing it for the purpose of selling it, plan well and make decisions based on whether or not it will be worthwhile financially.