Home Upgrades that Pay Off

Thinking about renovating your house? Builders beware: when it comes to home renovations, not all upgrades are created equal. Spend your home renovation budget wisely and you’ll reap the rewards of retained value!

Kitchens and Bathrooms
– Updating your kitchen and bathrooms is almost always worth it. Whenever possible, stick with existing layouts and upgrade the details, like fixtures, flooring, countertops and cabinetry.

Curb Appeal –
Ensure your home makes a good first impression by upgrading the exterior paint and trim, adding architectural detailing and decorating walkways with low-maintenance landscaping.

Outdoor Entertainment –
Create outdoor living spaces. Decks are one of the best investments because they are relatively inexpensive to install and tap into the outdoor living trend.

Extra Living Space –
Consider adding a sunroom, converting attic space, or upgrading your basement into a multi-purpose rec room. Beware of the more expensive additions, however, as the building costs may far exceed the potential gains.

Not all upgrades pay off in the end.

Structural Systems –
Don’t think of your plumbing and electrical systems as potential price-boosters, as buyers consider these a given and expect that they have been properly maintained.

High-End Finishes –
Stick with the finish spec that is consistent with the neighborhood. Going way beyond the average may limit your ability to recoup the costs.

Uniquely “You” Projects –
Avoid custom renovations that are geared toward your specific tastes or needs. Unless you find an avid musician buyer, that extravagant home music studio isn’t going to add value.