It’s a conversation that plays over and over again. When a seller decides to put their renovated real estate in Windsor on the market the price of the home is often debated because many sellers are under the impression that all renovations will dramatically increase the resale value. However, this is not often true.
Keep in mind that if you are renovating because you think you will get your money returned when the house sells, you may want to think again. Not all home improvements are created equal. For example, the top big draws in renovations include: upscale bathroom additions, kitchen and basement remodels, master bedroom expansion and the addition of an outside deck. But will you get 100% of your costs recouped? Probably not. Don’t undergo costly renovations just to sell your home in hopes of making a profit on your work.
What home renovations are best undone if you plan on moving soon? Media rooms, theaters, attic remodels are not hugely popular with the majority of buyers. Don’t be desperate to create larger living spaces. Many convert their garages into additional rooms, but almost every buyer would prefer a garage.
So if you know you are moving, and you are staring at a dated kitchen, maybe a smaller than normal master bedroom, and feel that you can get more bang for your buck by updating these rooms, keep these thoughts in mind:
1. Kitchen and Bathrooms are #1. So put your effort into improving these rooms. Be careful not to spend more funds than what you will earn when the house is sold. Why spend several thousand dollars on kitchen flooring if the resale value is less? Concentrate on replacing old Formica countertops with Corian or Silestone. Also, ceramic tile counters are very dated, so replace those if you can.
2. Spend money on curb appeal. This is always critical because as I have said on numerous occasions, the first impression is the most important impression. If your real estate in Windsor has a front yard that looks run down, by all means, spruce it up with some paint, light fixtures and landscaping.
3. Small master bedroom? Replace your king side bed with a Queen. Paint the room a nice neutral, bright color to make the room look larger. Get rid of any clutter and over sized furniture.
Overall, go ahead and improve your real estate in Windsor for your personal pleasure if you plan on staying in it with no immediate plans to sale. But don’t consider costly renovations if you do plan to move soon. It may hit you in the wallet.