Last year, a survey conducted amongst real estate agents sought to identify renovations and home improvements that might affect the resale price of homes across the country. This survey was aimed at helping homeowners to decide about investing in any home renovation or design projects when intending to sell their home in the near future.
It was revealed that some low-cost home renovations had the best potential to stimulate an increase in return-on-investment (ROI) upon resale of their home. Of course, that does not necessarily say that you should avoid any expensive home design and renovation projects such as a kitchen renovations or bathroom upgrades. It is known that kitchen and bathroom renovations will most likely attract more potential home buyers.
Homeowners should always be cautious about expecting a large increase in their property value beyond its fair market value. It is also important that homeowners consider how any home improvement project will benefit their own lifestyle while they remain in their home.
Meanwhile, if you are wondering how your next design or renovation project might affect your home’s market value, just ask – we’d be more than happy to help answer any questions you may have.
Tell us what home renovation projects you completed before selling your home.
How did those renovations increase your ROI?
Source: ©Morris Real Estate Marketing Group & The Bytown Team