By Donna Daugherty,
Are you planning to sell your home soon or tired of looking at the same outdated couch? If so, start thinking about a remodel budget and how to get the most bang for your buck! Set yourself up for financial success by making a few strategic updates before putting up that “for sale” sign in the yard. The key to any project update is understanding your budget and maximizing your resources. Not all updates lead to a return on your investment (ROI) and it’s important for you to talk to a professional, do research to find out surrounding comps and understand potential buyers’ needs before making pricey updates to your home. Maybe you’re not selling your home but instead you’re longing for an updated space, here are some things that you should consider that will increase the value of your home and not break the bank!
Make a list of all the things you dream about doing, break your list down into categories based on cost and write down how much time each project may take. This will help you prioritize your changes and get results. If you only have a day or a weekend, choose a project that fits within your time frame, comfort level and financial commitment.
Of course, investing resources into updating or renovating your kitchen or bathroom is always a safe bet to boost the value of your home and increase your ROI. The cost to remodel can widely vary depending on the scope of the project and where you live. Think about whether you can refresh the cabinets with a coat of paint, change the look of the kitchen with an updated backsplash, swap out kitchen hardware or lighting, or is it time for a complete gut job? Sometimes, just a simple appliance update can make an enormous difference in a kitchen. Make sure that you get multiple quotes for each project and check with your family and friends to see which vendors they’ve found most reliable and whether their projects were reasonably priced. If using a professional designer, these tasks are what he or she does best. Designers typically have a list of preferred vendors, will manage the project for you and can certainly help you maximize your budget.
Another way to increase the value of your home is to create an outdoor living or entertainment space that feels like an extension of your home’s interior. Adding your dream pool, deck, or pergola can not only make being at home more enjoyable, but also, it appeals to potential buyers and renters. Give your backyard an impressive entry with an inviting gate, new lighting and spruce up your landscaping by adding outdoor planters with seasonal flowers. Small improvements can have a significant impact on the aesthetic feel of your outdoor space.
Find ways to improve space by adding laundry shelving or closet organizers. Having a neat and spacious home is appealing to home buyers and helps you hide unnecessary clutter. Clean out those closets and donate unwanted items. Storage space is a commodity that all buyers look for in homes they are considering.
Create a list of the decorative upgrades you would like to make for yourself (like that updated vanity mirror) and another list outlining upgrades you’d like to make in order to boost your home’s value (window treatments). Use your lists and your timeline as parameters and slate the projects and your budget accordingly.
Regardless of your budget, money spent on your home is not only a return on your investment but also improves your lifestyle and everyday routine. Your trusted interior designer can help you prioritize your improvements and maximize your ROI. I’m Donna Daugherty and I would love to help you with your next design project!
Donna Daugherty is the owner of Design At Its Finest, located in Santa Rosa Beach Florida. If you’re tackling a design project, I’d love to help! Stay tuned for the next several publications where I will share some design tips that will help turn your home into your own beautiful landscape. Call 850-714-4869 or visit www.designatitsfinest.com for more information.
Author: Sowal Editor
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