Home renovation or house flipping television shows often inspire homeowners to want to try doing the same with their homes, in the hopes that they will greatly increase its value. But how much does a renovation really add to the home’s resale value and, is it worth it?
Remodeling a dated house can completely transform it, making it a much more comfortable space for the family to live in, so if you are planning to stay in the home it can be a good idea. However, if you are planning to renovate for the sole purpose of selling it, the money you spend may not make it a sound investment. If, after considering your options, you decide to go ahead with the work here are a few recommendations:
Make sure that any improvements you do to the home are in keeping with the other homes in the neighborhood. It is nice to have the best-looking house but making it that much bigger and better won’t increase its value that significantly.
Choose appliances and decorations that have a more neutral palette and base your decisions on what might appeal to a prospective buyer and not necessarily on your own personal tastes.
Perhaps you’re considering the addition of a backyard pool with the idea that it will appeal to a buyer. It may surprise you to learn, however, that you can put a lot of people off by having a swimming pool. Families with young children may worry about the dangers associated with them and some may not relish the thought of maintaining one.
So, if you are renovating your home to sell it, make sure that you do a great deal of research on the kind of work you should do that would make it a worthwhile investment.
Remodeling a dated house can completely transform it, making it a much more comfortable space for the family to live in, so if you are planning to stay in the home it can be a good idea. However, if you are planning to renovate for the sole purpose of selling it, the money you spend may not make it a sound investment. If, after considering your options, you decide to go ahead with the work here are a few recommendations:
Make sure that any improvements you do to the home are in keeping with the other homes in the neighborhood. It is nice to have the best-looking house but making it that much bigger and better won’t increase its value that significantly.
Choose appliances and decorations that have a more neutral palette and base your decisions on what might appeal to a prospective buyer and not necessarily on your own personal tastes.
Perhaps you’re considering the addition of a backyard pool with the idea that it will appeal to a buyer. It may surprise you to learn, however, that you can put a lot of people off by having a swimming pool. Families with young children may worry about the dangers associated with them and some may not relish the thought of maintaining one.
So, if you are renovating your home to sell it, make sure that you do a great deal of research on the kind of work you should do that would make it a worthwhile investment.
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