This article is written for the handyman in your family. If you’ve ever considered renovating your home to increase its resale value, we’d like to help you start.
Since almost no one has the time or funding to do all home projects at once, it’s important to first understand which projects will give your home the greatest return.
Some things to Consider:
- Don’t be the most expensive house on the block. It’s good to understand what neighbors around you are doing, so you don’t alienate yourselves with an extremely expensive house that no one would want to buy because of its neighborhood.
- Keep your house’s brand uniform. Don’t try to mesh a “New England-style” exterior with a feng shui interior. Know that most buyers will appeal to the style and brand of your house as a whole and that any disconnects often deter potential buyers.
- Make sure it’s the right time of year. If your house needs new roofing, and it’s late December, you’d probably want to wait till the summer when you can afford to not have as much insulation.
- Understand that your very geographic location has trends to what renovations people tend to value most. Do your research and understand if it’s the attic, the kitchen or a finished basement that tends to be more popular in the state you live in.
Small budget projects can be as simple as cleaning up and removing clutter, painting walls, and adding lighting. Replacing hardware, such as cabinets, shower racks and door knobs are also small and easy projects that can add immediate appeal.
Moderate budget projects include adding crown molding, investing in energy upgrades and putting in hardwood floors. These are slightly more permanent additions that buyers can feel the effect of in every room.
And lastly, large budget projects include entire kitchen remodeling, bathroom remodeling and converting extra spaces, such as attics and basements, into workable functioning rooms.
The information contained herein may not represent the views and opinions of Zions Bank or its affiliates and is intended for informational purposes. It is presented for general informational purposes only and does not constitute tax, legal, investment or business advice.