4 Ways to Get The Biggest Bang for your Buck in Home Updates

4 Ways to Get 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.

 2.      Price

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 impact overall.

 3.      Timing

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.