Breathing new life into the design of your home - whether to make it more enjoyable for yourself or when prepping it for sale - gives you the opportunity to explore your creative side.

But as exciting as this process might be, it still requires a fair amount of strategy planning. This makes sure that you’re able to have a successful renovation without adding unnecessary stress to yourself and your bank account.

To do this, you’ll need to carefully consider which renovations are worth the effort and which ones you might want to keep at the bottom of your priority list.

Establishing Achievable Remodeling Goals

Before you rush to your local hardware store or start making phone calls to contractors, it’s important to take a step back and define your renovation goals. Having a clear view of the reasoning behind any changes you’re making to your home is what will give your project purpose and is what helps you avoid getting distracted by other “priorities” once renovations are underway.

Start by writing down the exact reasons why you need to renovate. Maybe it’s to give yourself some more living space or improve the home aesthetics. You might also be getting ready to sell and want to help improve the value of your home. Whatever the reason for your renovation project, make this long-term goal a major variable for the decisions you make along the way.

If you’re specifically looking to boost your property's value on the market, adopting a more calculated approach will be important. Many industry experts point out that not all renovations are equally attractive to potential buyers. This is usually why prioritizing projects like modernizing kitchens and bathrooms or increasing functional living space usually brings the highest financial gains.

However, it's important to recognize that not all of your personal preferences during a renovation may resonate with future buyers. Since home improvements can be both expensive and time-intensive, it’s important to maintain realistic expectations regarding what your budget and schedule will accommodate.

Focusing on Upgrades That Improve Your Property Value

When trying to improve the value of your home, the renovations you choose could have a large impact (good or bad) on the amount a potential buyer will be willing to spend. This is why thinking about taking on projects that offer a higher return on investment can be more important than your own wants or needs.

You could focus on home improvements with high return on investment, including:

Transforming Kitchens

Most people spend a fair amount of time in their kitchens, and the form and function can be a big attractant or deterrent for potential buyers. So, if you have an outdated kitchen design or layout that just doesn’t quite work, opting for a kitchen renovation project may be a great choice.

A good place to start is by looking at your counter space as well as the large kitchen appliances like refrigerator or stove. You might want to consider upgrading to more modern stainless steel designs for the appliances and opening up your kitchen working areas. This could be done by installing a new kitchen island and freshening up the countertops with more premium finishes like granite or quartz.

Remodeling Bathrooms

Bathrooms are another highly used area of the homes worth considering when it comes to renovations. Replacing outdated fixtures or even just applying a fresh coat of paint can add a lot of value to the property and give more of a “wow” factor to potential buyers.

A smart renovation project to think about could be to update the flooring, especially if you have an older bathroom with colors or designs. Installing fresh bathroom tiles while also thinking about different layouts for showers or counter space could make the space much more functional while also significantly improving its look.

Expanding Living Areas

Improving the living area of your home is an obvious choice when thinking about potential renovation projects. However, not every homeowner has the same needs or tastes when it comes to optimal designs or layouts.

One thing to consider is that most buyers, especially those with families, tend to lean toward homes with more space. Open layouts have become much more popular over the years since it makes the living are more functional and less restrictive when it comes to choosing furniture.

Still, you should carefully consider the potential returns on any renovations you make to living rooms since these types of projects can quickly add up in costs.

Improving Outdoor Spaces

A great first impression is so critical when selling your home. One way to do this is by making sure your outdoor space is both inviting and practical. 

You should think about taking on outdoor projects like improving the landscaping, installing a new deck or patio, or even installing an outdoor kitchen. These modifications can significantly improve your home's attractiveness to potential buyers and can play a big part in increasing its market value.

Avoiding Renovations with Minimal Return on Investment

Knowing which renovations bring you the best bang for your buck is great, but knowing where you should steer clear is equally as important.

While they might make the most sense when you consider them, there are certain “upgrades” you can make to your home that could potentially lower its value in the minds of potential buyers.

Here are some renovation projects that you might want to consider skipping:

Highly Customized Projects

It can be fun to get creative when starting a renovation project. This is especially the case when choosing vibrant colors or installing really different home features. Still, it’s important to remember that your unique tastes are just that - unique to “you.” 

The chances are that most people may not have the same tastes or interests as you, especially if you’re the type of person who likes to go against the grain when it comes to how you design or style your home. While there is nothing wrong with this ideal, keep in mind that it will make it harder to sell your home in the future.

If reselling your home is something you’re actively thinking about when beginning remodeling projects, it’s better to keep your changes more adaptable to various tastes and interests. You’ll want to make sure you’re striking the right balance between highly customized design choices and your home’s overall market appeal.

High-End Luxury Additions

Similar to avoiding highly customized design choices, you’ll also want to steer clear from investing too heavily into higher-end home features. While there is nothing wrong with selecting quality materials or appliances for your home, you should keep in mind the type of buyer you’re trying to appeal to.

Depending on the area the home is in, your typical buyer’s budget should also be a point of consideration. If you live in a neighborhood that isn’t necessarily recognized for its luxury living, then higher-end investments may not pay off during a resale.

Pool Installations

Everyone loves a pool, right? You might be surprised by the answer. While owning a pool can be great for some people, the reality is having a pool can be a lot of work and isn’t always considered the “safest” option for families with really young children.

If a pool on the property seems to be a great value-add when comparing other properties that have sold in the area, then a pool might be a good investment. However, you should very carefully consider whether or not it’s worth installing a pool since, for many, it’s a wasted use of outdoor space and another significant maintenance bill.

Making Sure Your Home Improvement Projects Pay Off

Your home is a major asset, and the desire to customize it to your liking is only natural. However, the secret to effective home improvement is striking the right balance between meeting your personal needs and making sure your home’s value grows over time.

Author Information

Author Name: Michael Alladawi

Author Bio:

Michael Alladawi, CEO & Founder of Revive Real Estate, is a Southern California real estate veteran with a proven track record as a builder, investor, and respected home flipper. Michael created Revive Real Estate to share his industry knowledge and help homeowners maximize their profits when selling their homes. Michael's passion for his work is as big as his desire to create lasting partnerships. For Michael, it all comes down to how much value one offers, both in business and life relationships.  

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