Preparing to renovate your property can be an exciting time. There are so many choices to make and decisions to take, but with careful planning, you can end up with the home of your dreams. So, what should you do first? What's the best way to get started? We all know that home renovation is a big undertaking, both in terms of time and money. But if you choose your projects wisely, you can end up adding serious value to your home. Here are 4 home renovation projects that are sure to pay off, whether you're looking to sell in the near future or just want to enjoy your newly updated home for years to come. Below, we’re going to take a look at how you can decide what to renovate next.
By Team Savant
Image: Katja Rooke
Key Questions to Ask Yourself
Let’s start by exploring some of the key questions you need to ask yourself before starting any renovation work. By answering these questions, you'll be in a much better position to plan your renovation project and make sure that you end up with the results you're hoping for. So, let's get started!
1) What are your goals for the renovation?
Before you even start planning your renovation project, it's important to sit down and think about what your goals are. What do you hope to achieve with the renovation work? Are you looking to increase the value of your property so that you can sell it in the future? Or are you planning to stay put and just want to make some cosmetic changes? Maybe you're hoping to add some extra living space or make your home more energy-efficient.
2) What is your budget?
Once you've decided on your goals for the renovation, it's time to start thinking about money. How much are you willing to spend on the project? It's important to be realistic here and factor in both the cost of materials and labor. If you're not sure how much things will cost, get some quotes from local contractors before making any final decisions.
3) What is your timeline?
Are you working with a deadline? Maybe you're trying to have everything finished before winter sets in or before the new school year starts. Whatever your timeline may be, be sure to communicate this information to your contractors so that they can plan accordingly.
4) What do you need vs. what do you want?
It's easy to get carried away when planning a renovation project. There are so many things that you could do, but unfortunately, not all of them may be necessary (or even possible). Before making any final decisions, sit down and prioritize what needs to be done vs. what would simply be nice to have. This will help ensure that your renovation project stays on track and within budget.
5) Are there any unforeseen issues?
There's always a possibility that unforeseen issues could crop up during a renovation project (this is particularly true if you're dealing with an older property). Be prepared for this by setting aside extra money in your budget for unexpected repairs or expenses. This way, if something does come up, you won't have to scramble to find the money to fix it.
Deciding What to Renovate Next
From here, you’re then going to want to focus on the part of the home you’d like to renovate the most. This can be hard to decide but there have been rooms that are very much always going to be at the top of your list. But there can also be things like the removal of asbestos that you need to take care of too. Let’s take a look.
1. The Kitchen
It's often said that the kitchen is the heart of the home, and there's a good reason for that. The kitchen is where families gather to cook and eat together, and it's also one of the first places potential buyers look when considering a purchase. A well-designed, updated kitchen can add tens of thousands of dollars to the value of your home.
2. The Bathroom
Like the kitchen, the bathroom is another high-traffic area of the house that potential buyers pay close attention to. If your bathroom is dated or in need of repairs, renovating it can be a great way to add value to your home. Plus, it can be great for you to enjoy a beautiful, luxurious, spa-like bathroom too.
3. The Basement
An unfinished basement is essentially wasted space. But by finishing it—and making sure it meets all local building codes — you can turn it into a valuable living space that will appeal to buyers and help increase the resale value of your home. Plus, you can then actually use it to live in and as an extension of your home.
4. The Exterior
First impressions matter, so if the exterior of your home is in disrepair, it could be costing you dearly in terms of both resale value and curb appeal. Whether you're repainting, re-siding, or doing any other type of work on the exterior of your property, taking care of these projects can have a big impact on both how much your home is worth and how quickly it sells.
Working on Your Next Renovation
We all know that renovations are lot of work. However, answering these five questions is a great way to get started on planning your next renovation project. By taking the time to think about what you want and what's realistically achievable, you can set yourself up for success and avoid any unnecessary stress down the line.
Home renovation projects are a big undertaking, but if you choose wisely, they can be a great investment. Whether you're looking to sell your home in the near future or just want to enjoy it for years to come, updating your kitchen, bathroom, basement, or exterior is sure to pay off handsomely. So what are you waiting for? It's time to get started!