In the event that you are not content with your existing house, you might be asking yourself if remodeling it is the appropriate decision. Often a handful of minor modifications can make a huge impact.
Take Into Account Which Features You Can Update
Namely, if you don’t like the location– whether due to the commute, local traffic, or the school district– a renovation won’t solve the problem. Even if you like the location of your home, some details just can’t be changed easily.
If you are happy with the size and layout of the home but want a nicer kitchen, your house is likely a great candidate for renovation. If you want to add a bedroom or bathroom to your home and have the budget for it, renovating the home is likely the best option for you.
Think about the Type of the Improvements
This means you will pay thousands of dollars that you will likely not recoup when you sell the home. Finally finishing the basement may improve your enjoyment of this part of your home, but it will not make a big impact on the value of your property.
Some upgrades are much better investments than others, simply because they will literally increase the market value of your home. Upgrading your kitchen and bathrooms is often a good idea because buyers pay attention to these rooms during the home buying process. Updating your windows for new, energy-efficient replacements is another great idea, since this can attract buyers.
Arrive at Your Choice
In general, even if you pay for lots of meaningful renovations, your house won’t sell for much more than the homes that surround it. Even if you spend a lot on the kitchen of your dreams, your home’s value likely won’t go much above that of your neighbor’s.