Whether you are revamping your own home or working on an investment property, home improvements can be very expensive. Follow these tips to control your budget while preparing your home for sale.
Weigh Your Home Upgrade Options
There are not many homeowners with an endless budget to upgrade everything they want to improve in their home.
As such, a good starting point is to sit down and evaluate the property as a whole and then decide which parts are most significant and which ones most need upgrading.
In the majority of renovations, the bathroom and kitchen offer the best return on investment, but they are not always the areas that require the most work. Analyze the kitchen and bathroom to see what you can salvage from the materials you already have and then determine what could be upgraded. After considering the bathroom and kitchen, look around the rest of your home to identify other areas that would impress potential buyers if you were to update the space.
Pro Tip: First impressions are vital in real estate, so be sure to consider spending some of your budget on the porch and front foyer.
Going Large vs Reigning It In
Look at every room in your house and identify the stand out features that will catch the attention of potential buyers.
If you are renovating the kitchen, you could invest in expensive marble counter tops, but you could also save by being selective and only using marble for some of the counter space. Note: If you are spending a lot on expensive counter tops; a stainless steel island could save some of your budget.
In the bathroom, you don’t have to break the bank on the most expensive tiles on the market for the whole of your bathroom. A neutral tile for the walls of the shower and the floor can save you a bundle, and still provide great results.
Pro Tip: You can give your bathroom some style by adding a strip of the expensive tile that surrounds the shower wall and borders the floor. This will give your bathroom a great look and cost a fraction of the budget.
Think About Flooring Improvements
Hardwood flooring is popular with everybody, but stylish wood flooring can have a large impact on your budget.
Laminate flooring has improved drastically over the years and can the most cost effective way to get a stylish hardwood flooring look that doesn’t break the bank.
If you do decide to go with real hardwood flooring, which lots of people still do, then create an elegant look by being selective where you decide to use it. Consider the question: “Do you really need to replace the floors in all of the rooms?”
Your kitchen and bathroom should be tiled to avoid water damage, but what about the bedrooms? You can save by using carpet instead of expensive hard wood flooring. Just be sure to not create a “patchwork” by doing different carpet in each room.
Keep the Yard Nice and Simple
If your goal is to sell your home, consider making a few small changes to make the curb appeal of your home standout. Simple things like mulch and keeping the grass watered and regularly mowed, can significantly add to the value of the home.
Instead of spending big on an expensive paved walkway and blowing your budget, consider a gravel path that surrounds your home. It will give a nice consistent look without the large cost of a paved walkway.
The best advice when it comes to landscaping and the outdoor features of your property is to keep things simple. A nice neutral look is appealing to potential buyers and gives them the chance to view themselves living in the property before they even walk through the door.
Also, if you are thinking of selling, don’t break the bank on a garden, as anything that looks like it might cost a lot and require significant work is not going to appeal to a buyer.
In the end, the best piece of advice when it comes to home improvements is be selective and know where your money is best spent. Decide on the areas that require something special and a larger chunk of your budget. And then, save on the areas that won’t drastically affect the value or appeal of your property, and not affect the your enjoyment of the day to day living in your home.
Pro Tip: Be advised that is not a good idea to go crazy landscaping your home, particularly if you are trying to sell the property. Consider low maintenance options like simple shrubs and plants that don’t require lots of attention however look great.
If you would like more tips about where to invest in your home prior to placing it on the market, please contact me at the information below.