Can you select renovation options that will provide return-on-investment? Mike Medford, of Medford Remodeling in Arlington, TX, provides some suggestions in one of his recent blog postings. Of course, you should appreciate that priorities differ in different markets, but the general concepts here should certainly bear consideration.
- Painting is one of the cheapest, easiest and most impactful ways to update your home’s interior. Repainting an entire room with a new color, or simply adding a colored accent wall will quickly make an old room feel brand new.
- Replacing old windows is another easy renovation that can add value to your home. New windows are more energy efficient and provide more light and security.
- Getting a new front door installed can make a huge impact on the curb appeal of your home. A modern, unique front door can create a memorable first impression for prospective buyers and guests.
- Speaking of curb appeal, exterior renovations are a great way to attract buyers and make your home stand out. This could include landscaping, exterior painting, or replacing fencing.
- Open floorplans are very popular and highly sought after by today’s homebuyers. Knocking down a wall or two can really make a home feel larger while providing the coveted open-concept layout.
- Attic conversions are becoming increasingly popular. Though the renovations may be expensive initially, the value of a finished attic bedroom can outweigh the costs.
- Home office additions can increase the value of a home by providing homebuyers with a place for work or study that is isolated from the rest of the house.
- Quite obviously, kitchen renovations are extremely valuable. An updated and open kitchen space is one of the top selling points for many homebuyers.
- Another selling point that interests most homebuyers is a renovated master bathroom. A remodeled master bathroom with updated amenities can add a lot of value to a home.
- Incorporating a new patio cover or sunroom is a great way to improve a home’s value and appeal. Being able to enjoy outdoor space is always an appreciated bonus a prospective buyers eyes.
What are your priorities — or do you think should be most important in Ottawa’s market? Please feel free to comment.