Renovating and remodeling is a go-to strategy for many homeowners to increase home value before selling. When you dedicate time and money into making your home more attractive to potential buyers, you’ll likely enjoy a fantastic return on your investment.
Keep in mind that you need to be strategic with your home renovation. The cost of your renovations should always yield the highest possible return, and most worthwhile remodeling projects focus on maximizing value.
3 Rooms to Renovate That Increase Resale Value
Which rooms should you renovate to turn the most profit on your home? We recommend focusing on these three rooms to yield the greatest return:
The kitchen is a popular renovation choice for homeowners looking to sell. Having your kitchen renovated or remodeled will likely yield a substantial return. At the same time, it’s important to be careful not to go overboard on your kitchen. Some attractive ideas like stainless steel appliances and marble countertops can cost you more than you’ll recoup.
Think value over trends when renovating your kitchen for a resell. Updating your appliances to modern, functional models, building in more storage space or adding a window or two for extra light can dramatically elevate the appearance and value of your kitchen. Better yet, these simple fixes are relatively economical.
Remodeling your bathroom can result in a surprising return on investment, especially if you’re renovating the master bathroom. Smart bathroom renovations usually involve installing new tiles, sinks, backsplashes and new windows to bring more light into the space. In fact, many experts advise homeowners to focus on opening up their bathroom space as much as possible due to this room’s smaller dimensions. Adding wall-mounted shelving is also an excellent and space-saving way to add value to your home.
3. Bonus Room or Attic Conversion
One of the best ways to add value to your home is to convert your attic or bonus room into a bedroom. While many attics may prove tricky due to their lack of ventilation and spatial challenges, a bonus room with conversion potential can make a great room for a renovation project. This is especially true if you want to attract families to buy your property.
Should You Renovate/Remodel?
Determining whether to upgrade your home’s interior is the first step in any remodel or renovation. The answer lies within your budget, your home’s current condition, and how much you think you can recoup from remodeling a room or two. If you have the budget, most experts recommend that you at least update the features of your home that are outdated. If your budget can go further, strategic major renovations can pay off substantially when it comes time to sell.