It seems every other show on HGTV is a home remodel or renovation show. Each program displays amazing and stylish ways to make your home look brand new with just a new coat of paint, new landscaping, granite countertops, or even ripping out that old carpet and discovering beautiful hardwood floors underneath. There are a myriad of ways to achieve a new and updated look for your home – ultimately increasing its value exponentially.
But how do you know it’s time to invest in a renovation? And will be worth the investment?
First, a vast majority of home renovations are a good investment – especially as your house ages and if the neighborhood and/or surrounding houses increase in value.
Should you renovate or not renovate – that is the question:
If your carpet is looking worn, tattered, or stained in areas, it’s good idea to look into replacing it or peeking underneath to see if there are hardwoods underneath. If there are, your home’s value just went up. Hardwoods are all the rage right now. So rip up that old, mangy carpet and get the floor polisher out to buff out those hardwoods. Your home’s value will appreciate it.
In the kitchen and/or bathroom, look for any water damage along the baseboards, tub/shower, or sink areas. If there is, you may have dry rot issues underneath – or worse: mold. Then it goes from just being “an option” to a “must have to.” Time to rip up that linoleum and replace it with new flooring.
Take a good look around at your walls – especially the paint. Is it fading, chipping, or peeling? Have the kids turned walls into a coloring sheet? If so, it’s a surefire reason to pull out the paintbrush and get to work on a fresh coat. It will take years off the age of your home and increase the value, as well.
Check out your baseboards, too. These can get pretty beat up over time and really give your house a dingy feel if not maintained. You’ll also want to match the maintenance of your baseboards with your crown molding. Keeping a consistent look will give your freshly painted home a clean, new look that, again, takes years off its age and increases the value.
Many homes of the ‘80s and ‘90s were laden with gold fixtures: faucets, doorknobs, handles, and more. Nothing wrong with gold, but it’s a bit outdated with current trends. Go through your house and replace those fixtures with stainless steel, brushed nickel, or bronze for a more contemporary look. It’s an easy fix, which will take 5-10 minutes per fixture.
It’s amazing what a few fresh plants can do for the looks of a home. Rip out old, dying plants and replace them with new ones and sprinkle in a few flowers to add color. And, don’t forget the spread out some mulch or small bark chips for a clean look that makes the new plants pop from the ground and your home shine.
Also, pull all weeds and fill in any bare spots in your lawn with grass sod or seed. Mow and edge, too, for a well maintained look. Curb appeal still means a lot these days, which can significantly increase the value of a home. It tells people that the home has been well taken care of – another big selling point.
These two rooms can be costly to update but well worth it. Most buyers looking for homes consider kitchens and bathrooms as high priority areas and they must have a current look and function to earn a seller top dollar. Other rooms are, many times, much easier to update or renovate, but bathrooms and kitchens usually require a contractor – especially when dealing with plumbing, gas, electrical, counters, stovetops/ovens, bathtubs/showers, etc.
A home with a brand new kitchen and/or bathroom(s) is highly valuable in any neighborhood. If these rooms are updated and clean, the value of your home goes up considerably. For buyers, it’s a huge plus when bathrooms and/or kitchens are renovated – big, big selling points for sure.
Another somewhat costly project is a new roof or repairs to a roof. Yes, it’s not cheap, but a new shingle or two can make or break a sale or inspection of your home, which deciphers value. A repaired and complete roof also keeps you and your family safe and isn’t an option.
Overall, there’s a reason why those HGTV home renovation shows are so popular. Many homes nationwide are in need of a fix or two to help increase their value or livability. Take the time to inspect any wear and tear around your home and update where needed. If you’re able, apply for a home equity loan from your credit union to redo your kitchen and/or bathrooms or any other room that desperately is in need of a facelift. The investment can be result in an increased value when you do decide to sell.