So, you’ve decided to buy that cute little fixer-upper at the back of the neighborhood. You’ve weighed the pros and cons of your decision, and you’re game to tackle several moderate (and a couple major) renovations.
Congratulations! This will be an adventure.
We understand you’re excited about making the home yours, inside and out. It’s the dream of every home renovation show viewer! But don’t just start knocking down walls and installing new windows. Make sure that you have a game plan and that the plan will benefit your investment in the long run.
Put down that sledgehammer—just for a second! Here are five helpful renovation tips that add big value to your new home.
1. Understand Which Renovations Add the Most Value
Not all home updates are created equal. The value of renovations in the eventual resale of your home is dependent upon several factors, including how long ago they were made before your home hits the market and what features were updated. For instance, nearly every professional will advise a kitchen renovation. But let’s say you’re planning on living in the home for 10 years. If you drop $40,000 into kitchen updates on Day 1, you’ll never see that translate directly to the sale price of the home a decade later. It also helps to consider how future owners may want to use certain rooms and spaces.
Here’s a rundown of 10 simple home improvements that add value to your home, and four that do not.
2. Keep What Works
Chances are, you bought your property (as opposed to any others on the market) because there was something about its style you really loved. Maybe it was original woodwork on a hundred-year-old Craftsman home. Or a cool sunken living room in a mid-century split level. If your home is lucky enough to have original vintage features, keep them! With a little restoration, love, and care, they can look brand new again and add great character to your home. What’s more, they can add to the resale value with future buyers seeking those original features.
Here are five vintage home features you should restore instead of replace.
3. Consider Your Timing
When you move into a new home, it’s easy to get caught up in the need to make everything perfect immediately. You know how you want things, and you’re excited as a new homeowner to make those changes yourself. But where renovations are concerned, sometimes slow and steady is a better strategy. You’ll regret rushing through projects that may take a little extra time and effort to get right, like painting kitchen cabinets. And you’ll regret cutting corners for cheap supplies when you could save up for a few months for higher quality materials. Along the same vein, the price of some home improvement supplies fluctuates seasonally. If you can plan updates for what’s “off season,” you should be able to save money, which will translate into more recouped value down the road.
Here’s our guide to planning home renovations by the best season for every home project.
4. Know Your Limitations
When completing home renovations yourself, it’s also important to know when to hire a professional. Level 1 home renovators can change switch plates and paint trim. But unless you’re a certified HVAC technician, you’ll want to call in the professionals to help you swap your heat pump. Further, YouTube videos won’t save your botched electrical work. But a local expert will be happy to charge you double what you would have paid if you’d only called him in the first place.
Your Allen Tate/Beverly-Hanks agent has developed relationships with many of the area’s top service professionals during their tenure. Here’s a short list of home services they can help you complete.
5. Record Your Renovations as You Make Them
When you’re finally ready to move, one of the most important questions you must answer to successfully prepare your home for listing is, “What renovations have you made?” Any updates made within the last five years are especially important to note. Your agent will ask you to go room by room and list the date, description, and cost investment of all your updates. Save yourself the time and hassle later by keeping records as you go. Don’t forget to consider the roof and windows, plumbing and electrical systems, room additions, and significant landscaping.
Here are eight additional questions you must answer to prepare your home for sale.
Begin Your Home Renovations Today!
At Allen Tate/Beverly-Hanks, we’ve seen thousands of properties over our 45+ years in business. That makes us uniquely qualified to guide you during your home purchase—and even after you’re settled in.
Do these home improvement tips make you more confident about moving into your charming fixer-upper? If you still have questions about adding value to your home through renovations, our Allen Tate/Beverly-Hanks real estate professionals are here to help. Contact us today for suggestions for local renovation and home repair experts.
All real estate is local. In order to make confident real estate decisions, it’s important to have timely and neighborhood-specific information. Contact us today to speak with an Allen Tate/Beverly-Hanks real estate agent about selling homes and land in Western North Carolina.