Are you searching for ways to increase the resale value of your property? If yes, then you can invest in a home renovation project that may help you to make your home new again. Although you may have to spend a few hundred dollars to enhance the appearance of your property it can increase the value of your property by many folds.
Pre sale home renovations can be the best Idea to get god price for your old property and here we will talk about the ways to increase property value and planning your renovation before selling it.
Why You Should Think About Home Renovation?
First, you need to know why you should invest in a home renovation project and here are few reasons:
- Remodelling will increase the value of your property over time. Remember, the cost of remodelling or renovation will be considered when the buyers will evaluate the current market value of your property.
- Whether you are planning to sale your property or just want to improve its resale value for the future, remodelling will help you to enjoy the new look of your house.
- Pre sale home renovations will be a smart move for the property owners who want to secure a profitable deal in the future.
Planning Pre-Sale Home Renovation-
Come with a Strategy:
You have to prepare a strategy before you initiate the home renovation project. It can be a kitchen remodelling, bathroom renovation, basement repairing or anything; you have to identify the area that needs the renovation work.
Before coming to a decision, you have to ensure what kind of renovation will generate the highest ROI for you. The project must be profitable and should improve the resale value of your property.
Cost recovery is one of the most important factors you need to take care of before planning for pre sale home renovations. The level of cost recovery can vary from one project to another and you have to learn about them before you start working on a project.
Wood deck addition is considered as the most profitable pre sale home renovations with the possibility of 80-85% cost recovery. Likewise, you can enjoy a 75-80% cost recovery rate with window, siding and kitchen remodelling works. Bathroom, basement, attic and garage renovation can help to get 60 to 80% cost recovery rate.
Improve Light and Space:
If there is no space for renovation in your house, you can take initiative to improve lighting and increase space within your existing property. No one likes dark and cramped indoor and it does not matter how beautiful and expensive your house is, inefficient light and air can decrease your property’s resale value.
You can opt for an open floor plan that may look and feel larger than your existing setup. Make sure your rooms get enough natural lights. A range of pre sale home renovations is available there that can help you brighten up your rooms.
Hire an Expert
If you do not have any prior experience of handling home renovation project. It is better to hire experts who can identify the areas that require remodelling works most. An expert knows how to increase the value of a property by improving its conditions and aesthetic.
Many home renovation and remodelling service providers are out there and you can contact anyone after doing research. An expert will present an accurate project plan and give you’re the right estimation.
This is how you can increase the value of your property with pre sale home renovations. Although home renovation is an expensive project its cost recovery rate is quite high and you will witness a substantial increase in your property value after pre-sale home remodelling.