The Cost of Home Renovations

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Before you decide to renovate an entire home or even just to renovate a small section of a home, there are different things that you may want to think about. Yes, renovating a home is sometimes all about you, but what if you are renovating it for someone else such as a home flip?

There is probably at least somewhat of a chance that you will eventually sell your home into the future, so thinking about things like this may help your home sell more quickly later on.

Below are different things you may want to think about before deciding to make a certain renovation to your home:

Will a future home buyer want to see the renovation you have planned?

I recently came across a house that was listed as one of the worst renovations this year. The whole entire house was PURPLE. Literally everything. The walls were purple, the carpet was purple, the couches and chairs were purple, the blankets were purple, and so was everything else. It was very odd. The house was also huge so we are talking maybe 15 different rooms where everything was a shade of purple!

Selling a home like this would be very hard. I believe the homeowners were selling it at a low price even though overall it was a great home. The home needed a ton of work and most homebuyers don’t want to experience that.

What kind of return will you see on the renovation?

Some renovations will see a great return when you do them, whereas others may not. Key here is how you do your renovations. If you are handy, then you may want to do the renovations yourself because you will most likely see the highest return this way.

Usually adding a fence to a home will increase the value. This is because many people do not want to add a fence after they move in because of the time that is required to do so. A fence may also mean to certain people who a house is move in ready. I know that if my house did not have a fence, then it would have been more difficult to move there since we have one dog that is very active and spends hours in the backyard.

One way to make adding a fence more affordable to your home renovation is to think about how much you will spend on the fence. Companies such as Futurewood offer a great range of composite fencing solutions that can make adding a fence much more affordable.

Have you ever renovated your home? How much money did you spend?

 

Image via Flickr by pnwra


Comments

The Cost of Home Renovations — 1 Comment

  1. I was thinking about remodeling my bathroom this summer but the costs were upwards of $15,000 to hire a contractor. I think it’s best just to save money and do it next year.

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