The Commonwealth Blog

Monday, April 8, 2019

Renovations Worth Investing In

Boosting your property value partially depends on the number of home improvements you’re willing to make. Some renovations are more valuable than others, so we recommend investing in work that pays off in the future. Depending on the improvements you make, you can increase your home’s value by 10% to 12%.

Interior Walls

New paint raises the value of your home and appeals to buyers as they walk into a clean and airy space. Choose light, neutral colors over bold, dark ones to make the room feel bigger. Painting with these colors allows visitors to more easily envision a life in your home when they’re not overwhelmed by intense hues of purple, green, or any other color you may personally love.  

Expect to pay $200 or less to do the painting yourself and around $400 for a professional to do the heavy lifting for you. Whether you rely on a professional or not, shoveling out a couple of hundred bucks up front will pay off in the future with a faster, more lucrative sale.

Installing crown molding costs a bit more ($300 to $500 per room) but has a similar effect. By adding it to the top edges of walls, door frames, and cabinets, rooms appear clean and finished with the addition of classic flourishes. Not every home in the neighborhood will incorporate these details, and installing crown molding helps set your home apart from the rest.

Bathroom Renovations

The bathroom used to be a room that didn’t’ draw much attention. Now, homeowners want a large enough space to relax and unwind in. Soaking tubs, whirlpools, heated floors, and natural light are desirable in bathroom spaces but can easily add up to a small fortune to install. Consider your budget and the other homes you’re competing against in the neighborhood to decide how much money you’ll invest in creating a luxurious bathroom. Expect to pay between $35,000 to $65,000 for fancy bathroom renovations. If that amount isn’t in your budget, you can still replace old floors with tiles, paint vanities, and install new bathroom hardware for a cleaner, more attractive look. 

Kitchen Improvements

The kitchen is now one of the main focal points of the home. Open floorplans have living rooms leading to kitchens, a common place for friends and families to gather around tasty appetizers and drinks. The kitchen is, for many, a celebratory place and should look clean and attractive. Consider installing high-end appliances, marble countertops, and wine racks to impress buyers. While these renovations can cost upwards of $75,000, sellers usually recoup around 65% of costs.

Renovate Wisely

Investing in the right home improvements raises your property value and contributes to a faster sale. Renovate with your buyers in mind so you can spend your well-deserved money on renovations for your new place.

 


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