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Renovating To Add Resale Value

Renovating To Add Resale Value

Image courtesy of decoist.com

Image courtesy of decoist.com

It has been said many times: this is a generation of the home renovation. Ask any of your friends, and more than likely, most of them have undertaken a renovation project at some point. While some renovate their home for the purpose of creating an ideal space for their family, others renovate strictly to improve resale value.

When it comes to adding resale value to your home, not all projects are equal. Some renovations and improvements to your home are more desirable than others. As an example, a kitchen renovation is the top home renovation project to improve resale value, followed by a beautiful yard and mid-range bathroom model. Other renovations don’t always add as much value to your home prior to being sold.

Your home may look perfect on the exterior, but there could be issues lurking beneath the surface. In fact, hidden imperfections are one of the biggest reasons renovation projects end up costing more than initially anticipated. Understanding which renovations projects will increase your home’s value is extremely important to your home’s resale success.

As a general rule of thumb, you should spend no more on each room than the value of that room as a percentage of your overall home value. A little bit of math here will help you create a budget that’s right for you. It’s also important to consider your home’s current aesthetic when renovating. A completely modern kitchen will look out of place in a country-style home. Every room that you update should flow with the rest of the house.

Energy efficiency has become increasingly important for resale value. Samples of energy efficient upgrades can include installing smart thermostats, insulation, energy efficient windows and even solar panels.

There are many options when it comes to renovating your home strictly for the purpose of improving resale value. We’ve only mentioned a few of these options. If you’re unsure about which options are best for your home, consult a design expert to lead you through the process to ensure that you’re getting the most value for your dollar.

Subpar work can actually decrease value. Using the services of a professional renovator and design expert will ensure that the work is completed properly and to code, leading to a higher return on your investment.

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