How to Choose Between Costly Home Improvements

Whether you’re planning to sell your family home within the next few years or are an experienced “flipper” who regularly deals with investment properties, big ticket repairs, upgrades, and renovations can be daunting, especially when they tend to cost a good bit of cash. Sure, putting money into your home frequently yields a decent return on your investment, but if you’re dealing with a property that’s shabby or somewhat rundown, it’s important to understand which projects should take priority.

WHAT ARE YOUR OPTIONS? Most people lack the budget to fix or remodel everything that needs work, but even when money is not an option, coming in under budget is essential as well. At the end of the day, you’ll want to make a profit upon selling, so consider which rooms of your home are the most important and what areas may need the most money.

If you’re not sure, utilize the services of an experienced Realtor who can help you understand everything from which projects will be the most beneficial to what buyers are looking for in your area. In general, it’s safe to say that kitchen and bathroom remodels are going to be your best investment but each situation is different, so they may not be the areas in need of the most work.

SPLURGE AND SAVE. When going through your home, pay attention to which parts can be salvaged in each room (i.e. cabinets, flooring, and lighting) and then consider the elements or features that will gain the most attention. If you decide to tackle a kitchen remodel yet find yourself hesitant about your ability to cover the cost of quartz countertops, you may have better luck opting to add quartz to portions of your kitchen (counters lining the walls), while choosing a stylish butcher block or stainless steel top for your island. The goal is to make sure all elements fit within the overall design of the room.

PAY ATTENTION TO FLOORING. While most people prefer hardwood flooring, it’s often the look of hardwoods that they want, rather than the actual hardwood. If real wood seems a bit too pricey, laminate wood flooring has gotten so good that it’s virtually impossible to tell that it’s not true hardwood.

However, if you’re saving money on the materials, make sure you’re not completely skimping on the installation. While laminate protects you from dealing with some of the moisture issues that come along with real wood, you’ll want to make sure it’s installed properly so that gaps and bubbles don’t appear down the road.

In addition, with this notion of salvaging materials in mind, if your home already has hardwood flooring (whether visible or below the carpeting), instead of ripping everything out, hire someone who can return your floors to their former glory. Older hardwoods add character, which can go a long way when attracting the right buyer.

OPT FOR SIMPLE CURB APPEAL. While everyone loves the look of beautiful gardens and lush flowers, not everyone loves the idea of caring for them. It takes a special type of buyer to want to maintain an extravagantly landscaped yard, so when looking to add curb appeal, opt for low-maintenance shrubs, flowers, and bushes that won’t intimidate certain buyers. Much like the universal allure of neutral wall colorings, simple outdoor touches help buyers imagine what it would be like to live in your home without overwhelming them.

In the end, when prioritizing home renovations, pick your battles wisely. Save what you can, update what you can’t, and keep things as simple as possible. Go for classy rather than garish and consult with experts in the housing and real estate industry to see how to get the most bang for your buck.

If you’d like advice or are seeking a no-obligation consultation about which upgrades will help you sell your home, please feel free to contact me. I’d love to help.

Pam Evans | Hello Pam Evans Real Estate | www.HelloPamEvans.com | 678-778-6551