Four Quick Tips for Successfully Renovating a Home
Successful home renovations don’t just magically happen, no matter how simple or straightforward it may seem. It so often happens that vision doesn’t meet budget, projects get delayed, or demographic isn’t taken into consideration if it’s a project to sell. In short, it’s important to seek professional help when it comes to budgeting, planning, and research.
Here are our four quick tips to help streamline the renovation process:
1. Vision + budget:
Sure, it’s important to have a clear vision of what the end result would look like…but it’s more important to be clear of what you’d like to achieve and what you can afford. Perusing on Pinterest and Tumblr may be great for inspiration, but committing to expertly designed projects may lead to a disappointing reality check. Make sure to consult with a designer or architect from the get-go, as they will help you formulate a cohesive design plan with an appropriate budget. Last minute cut-downs on materials can be a hit to the ego. Which leads us to…
2. Know your demographic:
For a major renovation, it’s very important that you take your location and demographic into consideration. Why? So when it comes time to sell, you’re aware of what your target market looks for in a home. Knowing your target market will help you direct the focus of your renovations. Splurging on unnecessary focal points may improve the property beyond its resale value. To remedy this: take a look at comparable homes for sale in the area before you start.
Check out: MILLENNIALS WOULDN’T BUY THEIR PARENTS’ HOME, Realty Times
3. Basic improvements go a long way:
If you’re renovating to sell, then make sure to splurge your dollars on paint. Doing so is the cheapest, and most effective, face-lift for your home. Other options include: re-painting the exterior of the home, add new flooring, and replace window coverings. Trust us, these simple touch ups go a looong way.
4. Rule of Thumb to keep in mind:
Lastly, a good rule of thumb is to remember that kitchens and bathrooms generally tend to be a deal breaker for those looking to buy a high-valued home. When it comes to creating a budget for these two projects, cap spending on kitchens at around 5 percent of total property value, and 2 percent for bathrooms.