Whether you are looking to increase the value on your existing home to make it more livable or to add value to it to increase its saleability once the real estate market regains some of its lost value, value-adding renovations are a good way to make that happen. While some renovations will require a bigger investment up front, there are also less financially intensive renos that you can do which offer high return on the time and money you need to put into them.
Painting is one such lower-cost investment that you can make to brighten up your home; home buyers are often looking for a home that they can move into without investing a lot of time or money in before they can move in. A new coat of paint for the interior of your home can make a huge difference to the look of your home, making it feel fresh and often giving it some neutrality. While bright colours can really complement your personal decorating style, most home buyers consider unusual colors negatively when they are looking to buy a new home.
Renovating bathrooms and kitchens are a much bigger investment than painting but the investment is one that can really return some bang for your buck. A bright, updated kitchen is a huge draw to potential buyers over one that is dated and dark. Likewise, a nice bright bathroom can make a lot of difference to home buyers who’ve likely seen more than their fair share of old, dated bathrooms in their house hunting. If your home presently only has one bathroom and you have some extra space to work with, consider installing a second bathroom in your home; many home buyers won’t even look at a home that only has one bathroom.
The biggest renovation that you can make in your home, both for initial money investment and for potential returns, is adding a second suite. This type of renovation is very inviting to home buyers because it is a potential source of extra income; having someone else pay part of your mortgage payment each month is likely to be appealing to many buyers whether they want to rent out to a tenant or to a family member. Many home owners who aren’t looking to sell their home also are opting for the construction of a second suite in their home to help them pay the mortgage.
Whatever your choice, remember that anytime you plan on renovating your home where there will be construction involved, make sure that you first check out what permits you might need, particularly in the case of second suites for renting.
Notice: In accordance with FTC guidelines, we state that RealEstateProArticles.com has financial relationships with some companies and may be compensated if consumers choose to buy, subscribe or take any action to a product or service via the links on our website. Occasionally, we receive free access to review a product or service. We do not accept compensation in exchange for a positive review. These reviews are strictly the opinions of the author.
![[Valid RSS feed]](http://www.realestateproarticles.com/images/icon_Rss.png "XML Feed For RSS"){kind=icon}
Category Rss Feed
Print This Article
Add To Favorites
