Homeowners do many different types of renovations to their houses, for a variety of different reasons. While, one’s reasons and motivations, vary, and are often, personal, one’s decisions, should be based, on their intentions, regarding their houses. This means, if one believes, he will be living in his present home, for a significant period, the return on investment (or ROI), is less important, but if one’s intent, is shorter – term, this should help direct one’s considerations, and expenditures. With that in mind, this article will briefly examine, consider, and discuss, 5 areas of a house, and the options and considerations.
1. Kitchen: If you intend to live in your home, for a significant period, it’s less important to think about your return on your investment, than, it is, if you plan to sell the house, in the near future. When the latter, is the scenario, the emphasis should be on cosmetic enhancement, and how well, it enhances, a potential buyer’s perception, of the overall value, as opposed to proceeding with an expensive, thorough, overhaul, and total renovation! Since you will only recover, a smaller percentage of what you expend, in this area, a costly renovation, although often, lovely, doesn’t make sense, financially. Although, if the house is, in the luxury market, this may provide a slightly higher return, it still doesn’t make sense, because, so many, buyers, have different tastes, than you might!
2. Living Room: Extensive, expensive crown – moldings, generally don’t provide a high financial return, but cosmetic painting, and re – finishing wood floors might make sense! On the other hand, focusing, more on the most expensive components, rarely provides the return, desired!
3. Stair – cases: Your stair – case, should provide a positive image, but don’t go over – board, in terms of costly materials, etc. Rather, focus on providing a clean, neat, well – maintained appearance!
4. Air – conditioning systems: Have the system serviced, and properly maintained, so it is, as quiet as possible, as well as efficient. Unless you must, avoid costly replacements, etc!
5. Windows/ doors/ painting: Most home buyers focus on the quality and appearance of windows and doors, but avoid the temptation, to replace your windows, with more expensive ones, unless absolutely necessary! Remember, you only get one chance, to make a first impression, and your doors and windows, are among, the first items noticed and observed, so keep them, neat, cleaned, well – maintained, and properly painted. In addition, address the overall interior and exterior painting needs, and appearance, in order to provide a positive impression. This is generally a simple, cost – effective approach!
Wise homeowners realize, it’s important to make wise decisions! Hopefully, these guidelines, might point you, in the best direction, for your needs and priorities!