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Investing in Your Home: Which Renovations Are Worth the Investment

| October 08, 2017
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With platforms like YouTube hosting millions of instructional videos, you can learn almost anything online from sign language to DIY furniture crafting. Do it yourself projects have never been more mainstream, especially in the area of home improvement.

So, when it comes to renovating your home, why would you pay thousands of dollars to fix the kitchen counter that you can learn to fix in five minutes online? For one thing, plumbing. There are still renovations that are worth an investment in a professional.  However, there will always be easy projects that are not only fun to do, but will also save you money, and raise the value of your home.

Why You Should Renovate

First things first, the big question:  Why should you renovate your home? Do you really NEED a room extension? Is the kitchen “good enough for now”?

From a real estate perspective, it’s currently a seller’s market. That means home sellers have the advantage in both pricing and negotiation. However, the real estate market is now, and will always be, a cyclical thing. That means it will always swing the other way eventually and become a buyer’s market. Then a seller’s, and so on.

Even in a seller’s market, if you want top dollar for your home, and to potentially even create a bidding war for your property, now is the time to make those home repairs and smart improvements. Fresh paint, new hardware, and updated appliances alone will help your home stand out from other listings.

Rolling Up Your Sleeves

If you’ve got the time and inclination, you can save hundreds or even thousands by doing some of the basic renovations yourself. For example, according the folks at HomeAdvisor.com, the average cost for interior paint work for an entire house runs from $992-$2700. Make it a family project, connect with the paint professionals at your local Home Depot of Lowes, and make it happen! Staging experts will tell you, that if you are eager to sell, keep your paint colors clean and neutral. The idea is to allow buyers to “see” themselves and their furnishings in your home. A neutral palette helps them accomplish that.

Want to upgrade the look of your kitchen or bath? Add a beautiful new backsplash by watching one of the hundreds of tutorials on YouTube, or attending a local class to get started. Even switching old outlets to the new USB-friendly variety can be a great touch when it comes time to sell.

You can even give your furnishings a facelift! Think new hardware on dressers and cabinets. New decorative legs for an old desk. Even new frames for artwork can elevate the look of a room.

When to Hire a Professional

Did you have a “Mr. Fix-It” dad growing up that was convinced he could make everything with a few tools and a free weekend? Unfortunately, a do-it-yourself project can sometimes go terribly wrong if you aren’t well versed in important details. Taking down a wall can turn into a structural, electrical – or even plumbing nightmare. Adding on to your home or making structural renovations usually require a permit. Roof repair will need documentation for insurance purposes.

Electric, plumbing, and big changes should always be something to at least consult with a professional on before getting started. They can give you valuable perspective and help you to avoid common pitfalls. Worried about WHO to hire? First, ask around to your sphere of friends, neighbors, and family members for a trusted resource. Your local real estate professional is usually a great person to ask for a name as well. There are also terrific online services that vet businesses – such as Angie’s List, HomeAdvisor, or Houzz.

 

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