Home Renovations: Something for Everyone

April 17, 2023

It is not uncommon when purchasing a preexisting property to immediately imagine what updates will turn it into a home customized to meet personal preferences. Home renovations, big or small, can take a bland or outdated space and turn it into a unique, favorite room. Not all renovations are equal, however. It is just as important to consider the return on investment as it is to map out a switch in style and available budget.

When preparing to restore, revamp, or upgrade, homeowners often approach with concerns about cost. Yes, renovations to common spaces such as kitchens or bathrooms land on the higher end of the price point, but there are also many options that are less financially impacting yet are equally as satisfying. For those just settling into a new home, it is absolutely acceptable to start with affordable updates that offer more happiness and bang for the buck.

For a larger renovation budget, the best return on investment continues to be found in kitchens, bathrooms, and flooring. These are three big-spend areas that will earn most (if not all) of the investment back upon resale. The key to future financial success is remaining mostly neutral while adding pops of personal preferences.

  • For many, the kitchen is the heart of the home so it is no surprise that this multi-purpose space remains at the top of the list in popularity and profitability in renovations. Replacing outdated appliances with new, energy-efficient models is both cost-effective and appealing. Updating backsplashes, countertops, and cabinets frames new appliances with a stunning new look.
  • Bathroom remodels are often homeowner-friendly projects that can cover a wide range of updates. A simple re-caulk and faucet swap can brighten showers or sink. Consider refurbishing a tub to include a whirlpool feature or upgrading a vanity with one that offers the perfect storage options. Or, for another non-traditional twist, find a chest or dresser that can be upcycled into a one-of-a-kind bathroom piece.
  • Replacing floors is incredibly intimidating as it involves days of shifting furniture, endless dust, and foot traffic while being installed. However, that temporary chaos will be well worth it as new floors (or refinished hardwoods!) continue to rank high in return on investment for all home renovations. Choose flooring that works best for your family’s needs and say “Yes!” to higher-grade options. Steer clear of floor designs that may only appeal to you. A floor with a neutral palette will not only give you a broader ability to accent each room but will also attract buyers down the road.
  • Before beginning any large renovation, speak to several consultants about what is on trend versus what will remain classic for years to come. Vendors should be willing to visit your home to take measurements and show samples, ensuring a positive experience that will leave you thrilled for years.

For lower-cost renovations, think in terms of a refresh. Breathing new life into a home does not require a complete overhaul. Instead, a few simple updates can improve a home’s appeal with minimal financial output.

  • Don’t discount the value of a fresh coat of paint as it can completely change the look of a home’s interior. Pay attention to sales at your local hardware store and stock up on supplies when prices are low. Whether you opt to carry a complementary palette throughout your home or accent each room with a unique hue, painting is an excellent and affordable way to improve aesthetics.
  • Front doors are often forgotten yet they are the first thing visitors (and future buyers) encounter! A quick coat of bright paint can turn a worn entry into an inviting one. Perhaps a new front door is more desirable. Shop non-traditionally at flea markets or restore shops for a one-of-a-kind piece. Even switching a dingy screen door to a glass storm door can make a huge difference in first impressions.
  • Outside, increase curb appeal by removing clutter created by overgrown bushes or trees. Plant a variety of flowers that will bloom through multiple seasons, creating a showcase of color. Flank entry points with potted plants or whimsical weather-friendly art to give your home eye- features.

Don’t discount invisible updates when planning changes to your home. There are many improvements that focus on energy efficiency or adding living space that is worth the investment, though they may not be “seen” as easily as gutting a room and starting anew.

  • Improving insulation will reduce your current cost of utilities and improve future resale value. While projects such as insulation updates (or roofs, siding, etc) do not elicit many “oohs” or “aahs,” they should still be considered due to their high return on investment. Don’t forget to keep copies of invoices (including utility bills) so potential buyers understand the value further down the road.
  • Adding space to existing areas is another subtle way to improve the quality of your home. For example, turning basements or patios into fully functional square footage creates more living space. A bonus of such renovations is that they don’t necessarily impede daily life making them ideal for those who wish to tackle a do-it-yourself project. Whether creating an outdoor kitchen with comfortable seating or designing a home gym downstairs, redefining the function of less-used areas can turn them into a favorite spot.

Home renovations are often thought to be financially draining and the cause of months of upheaval. By being selective in the process and spreading out updates over several years, disruption can be minimal to both your wallet and daily life. Whether simply changing cabinet pulls (a perfect low-budget update!) to opting for a brand-new bathroom footprint, nearly every renovation can return great joy and increased home value.

The Rodney Carroll Team specializes in helping buyers find the perfect house to put down roots, even if that house needs a tweak or two. Reach out to us today as the sooner you settle into your new house, the sooner you can turn it into the perfect home.