Renovations are a big undertaking even it is a single room or an entire house you are planning to renovate. Renovations require time, efforts, and cash. Whether you are an investor planning to rent out or sell your property or a buyer buying your first home, every renovation choice you make will impact the return on the investment in the future.
There are certain factors like finishes, appliances, and the construction choices you make which affect the resale value of your home. However, there is a catch to it. A decision regarding renovation you feel appropriate today will still be a smart decision five years from now?
Let’s take experts opinions regarding the changes you make keeping in view the impact it will have on the resale value of your home in the future.
Being the most used part of any home, kitchen requires the most attention when it comes to renovation. The feature in the kitchen which takes most of the investment is the cabinetry. Experts believe that the installation should be of high quality with traditional style. Traditional style will enable the potential buyer to personalize it according to their own taste. Choose the neutral colors for your cabinetry as it gives more options. Don’t over customize your kitchen and stay with the general standards when it comes to countertops and other features.
When you are renovating with resale in mind, don’t be too stylistically specific. Keep things simple and functional. White subway tiles for the walls and grey and white marble for the floor will be a great choice. It is a misconception that expensive materials yield the best results rather home renovation contractors suggest strongly to keep the palette very neutral.
Most people believe that wall-to-wall carpet is a very attractive feature to have in your home. However, when it comes to a potential buyer, it is a great thing that turns them off. Wall-to-wall carpets are very difficult to clean and dust and dirt gather a lot on them. Similarly, wood flooring is a very likable flooring option for people, but it has certain drawbacks too. Avoid wood flooring in the areas like bathroom, kitchen, or basements. Wood floors are sensitive to moisture and tiles or vinyl are better flooring options for such areas.
4. Try to Stay Away From DIY
It is always tempting to take the DIY route which can save you money in renovations. However, restrict your DIY expertise to minor jobs like painting, repairing doors, decorations, etc.DIY saves you money but it is a short term benefit. Things done improperly will harm you in the long term and will have a negative impact on the buyers.
High ceilings bring openness in the room and it can increase the resale value of your home. Every inch of extra height in the room adds useable square footage. So, when it comes to ceiling, keep them as high as possible as people love to have more space to hang artwork, fabrics, or even to have more daylight.
When you are planning to renovate your home, don’t focus only on the looks, style, and design. Always keep the future aspects of your investment in your mind when you are deciding on the floors, bathroom, kitchen, ceiling, and any other feature of your home.