If you plan on selling your home in the near future, then renovating it can be a great way of increasing the market value before putting it out for sale. Most often, the money that is spent on renovations is paid back through the increased market value gained on the sale of your home. Keep in mind that not all renovations or remodeling of the home will give back the same value or any more. Therefore it is important to know where exactly you need to add value so that you can get the best possible return for your investment. Here are some basic factors that you need to keep in mind when planning a renovation project for your home before a sale.
Landscaping Your Garden
The garden is one of the first things people see as they enter your property and it is crucial to make the best first impression right from the beginning. It is also the easiest and cheapest way of transforming your property instantly. Simply plant some new, colorful flowers, add some new ferns and plants, paint the garden walls, add a water fountain and make the lawn look its best. This can easily yield more offers from potential buyers.
Installing Cohesive Fixtures
In a home renovation, some of the most overlooked features are the lighting fixtures, doorknobs and faucets that although small can affect the overall outlook of your home. Thus, try changing any fixtures that do not match the theme of the rest of the fixtures in the house. Replace these with similarly styled products so that it creates a cohesive look throughout your home that will give a more dramatic look than each individual piece. Don’t forget that this includes any curtains or shades on the windows. You can add some visual interest by asking for blinds online quote to give a more warm and homely effect to your home.
Focus More on the Kitchen and Bathrooms
The kitchen and the bathrooms without a doubt provide the highest returns on the renovation investments with returns estimated at a range of 70 to 80 percent. Keep in mind to avoid any temptation to install expensive, over-the-top appliances and kitchen fixtures as the best return will usually come from focusing money on permanent features such as old and worn-out floors or cabinets. If you have a master bathroom, then put more focus on updating its finishes and fixtures for potential buyers.
Renovation Areas to Avoid
Although you may feel that adding a swimming pool may yield a higher market value in some cases, it generally has shown very low returns. In fact, some potential buyers may even be put off by the addition of these types of features that add very little to the overall resale value of a home. Another example is spending excessively on a single room such as the home office. While this might entice your own interest, it is rare that there are buyers who are specifically interested in a particular aspect of a home such as a room when they want to buy a new home.