Want to renovate your home to better suit your lifestyle and also increase your home’s resale value? Here are some of the top renovations to increase the beauty and functionality of your home without hurting its resale value:
Bathroom Refurbish: Short of a full remodel, there are numerous subtle changes to a bathroom that will increase both its allure and usability. Replacing an old toilet, faucet or vanity are all great places to start. Good lighting can be a huge value booster; try adding a window or switching the placement of certain fixtures. Lighting is often a primary culprit for why bathrooms feel “tired.”
Kitchen Renovation: Upgrading your kitchens appliances or installing new countertops made of either granite or engineered stone is one of the easiest ways to increase the value of the space. Both can assist in improving the overall aesthetic of your kitchen and boost its functionality. Similarly, open living spaces tend to be quite popular; try knocking down a wall to connect the kitchen to other spaces in the home.
Are your cabinets structurally sound yet looking tired? A cabinet door reface is another great way to boost the energy in your kitchen without breaking the budget. Similarly, detail renovations are a superb way to subtly transform your kitchen. For detail renovations think cabinet handles, faucets and light fixtures.
Built-In Speakers: People love gadgets. Centralizing the sound system in your home and putting speakers in each room will impress potential buyers and improve your experience in your home. Controlling music from anywhere in the home from a central remote is a proposition that never grows old.
Sprinkler System: Green grass seems to be an almost universal wish of homeowners. Adding a high quality sprinkler system is a small but key investment as it assists you and would-be-homebuyers in maintaining the curb appeal of your home.
The following renovations may look flashy and make you happy, but don’t always lead to increase in the value of your home.
Pool: We often associate pools with fun, and thereby assume pools will ensure buyers flock to our home. However, often the opposite is true, especially in colder climates. Families typically don’t want to deal with the hassle of maintenance or the liability of injury.
Ornate Lighting: Lighting is a key element to the overall look and feel of your space. However, breaking the bank on ornate fixtures and chandeliers typically means you won’t make your investment back. The next owner may choose to renovate or may not like the fixture, thereby, there is always an inherent risk in purchasing expensive light fixtures.
Remodeling Your Garage: Converting your garage into a family or play room is tempting, especially if there is ample street parking available to you. However, buyers are typically going to want the garage to be a garage. This can sometimes be a deal-breaker for buyers, coming off as a completely unnecessary renovation once they take over the residence.
Installing Carpet: Natural flooring is a popular choice among buyers. People like the feel, look and practicality of hardwood. Carpeting thereby may alienate buyers weary of having to pull up carpet and lay down or refinish flooring.
Converting a Bedroom: Turning a bedroom into a room that better fits your lifestyle may benefit you now, but could come back to hurt you when it is time to sell. Once you start customizing bedrooms, you can decrease the value of your home as the next owner may not want to spend the money renovating the room back to its original purpose.
Before you renovate be sure to weigh the impact of your renovation against your future plans. Are you looking to sell soon? Will you be planning to live here for many years to come? At the end of the day though, trust your instincts and make the renovation decisions that work best for you.