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To stretch your renovation dollars, here’s what appraisal experts say is worth it — and what isn’t:
Renovation Dos
- Kitchen remodel | The kitchen is the core of your home’s value. Investing in upgrades to appliances, surfaces, storage, finish and details gives the whole home a new feel.
- Bathroom upgrade | Changing fixtures, tile and lighting transforms a dingy, dated bathroom and impresses potential buyers.
- Wood flooring | Hardwood floors are here to stay. Aim for similar results with a high-quality laminate for less money.
- Energy efficiency | Green is the color this season. Upgrading your home to energy-efficient lighting, insulation, windows and appliances appeals to a buyer’s sense of civic duty and their pocketbook.
Renovation DONT’s
- Ditch the pool | Swimming pools are great fun with an enormous price tag and costly maintenance. Build a pool for your personal enjoyment; don’t bank on it bringing a return by increasing your home’s value.
- Forget the fancy office | Showcasing your home’s flexibility is a smart move but beware expensive built-ins making the change permanent. Buyers won’t relish the thought of un-renovating that deluxe office or yoga studio.
- Scrap the carpet | Don’t bother with upgrading floors if you plan to lay down carpet. Buyers aren’t looking for it, so it won’t be worth the hassle.
- Standalone bathroom addition | An extra bathroom sounds like a great selling point but beware. You only save when it’s part of a larger addition since it isn’t worth the expense on its own.
Are you wondering how your improvements stack up in today’s market? Call me today for a free home value estimate!
Well written article. There is this tool online that can estimate the cost of your home renovation. Worth checking out. It even tells you the return on investment. http://app.mykukun.com/Home-Renovation-Costs