4 Ways to Get The Biggest Bang for your Buck in Home Updates
4 Ways for The Biggest Bang for your Buck in Home Updates
Fewer listings and higher prices in the real estate market
have persuaded some homeowners to invest in their home with remodeling or
updates instead of moving. This means that the prices for those services have
also increased. With most bathroom renovations costing $20,000 or more, and
many kitchen renovations costing north of $50,000, it is important to consider
several angles in determining how best to spend your money with home updates.
1. End Game
What are your goals? Do you plan
to live in the house 3 or more years? If so, invest in updates that will help
you to enjoy your home, increase functionality, and solve problems. If you plan
to sell within 36, months, you may want to invest in classic updates that could
improve the home’s selling features, such as updated countertops and other
kitchen and bathroom upgrades.
Most people have budgets that will
dictate the type of update that is possible. In many cases, it is better to
invest the large majority of the budget to one specific update (such as a master
bath renovation), rather than lots of smaller updates that may not have as much
Given the demand for updates, you may want to choose your
improvements based upon the best timing for you and your family. Many painters
prefer to work in the exterior during cold, rather than the hot months. Ask
contractors if there is a discount if you are flexible on your timeline.
Sometimes they like to fit smaller projects in between larger one, and it could
be in your best interest to be patient.
4. Work with a Professional
Contrary to belief, working with an interior decorator to
design professional can save money in the long run. These individuals are
well-versed in hiring trusted and competent contractors, hedging problems and
challenges, and making the updating process smooth and less stressful overall.
In most instances, updates add value to a home, both
aesthetically and financially. Weighing why, when, what, and how you do those
updates is worth measured consideration. Showhomes is an expert at helping
buyers, sellers, and even those choosing to update their existing home. We
would love to help you or your clients on their next home renovation!
Lorelie Brown, M.A., CPRES, CID is the Owner of Showhomes Charleston in Charleston, SC. RESA-PRO member, an HSRA-Elite Member and part of HSRA Elite Leadership. She is passionate about the power of home staging and has staged over $300 million in real estate.