Renovating ‘to Sell’ versus ‘to Keep’
June 10, 2019
Thinking of investing some money into home renovations? First, ask yourself this – are you planning to sell in the next year or so? Or is this your forever home? The answer will determine the renovation budget and where to invest. Because it is very different if you are selling your home versus making it your forever home.
Renovating Your Forever Home
Investment in renovations should focus on the areas that affect your lifestyle and should be for your own comfort and enjoyment. Kitchen and bathrooms are the biggest reno’s you could do to improve your forever home. Ensuring these essential spaces meet your needs and the needs of your family will contribute to the well being of everyone.
Here are a few items to consider:
- Redesign the layout to function for how you use the kitchen. Is one of you taller than the other? Dual counter heights may be the answer.
- Do invest in high quality appliances for your kitchen and laundry room. You use them everyday!
- Do not go for the least expensive option for counter tops – Ensure they are durable for your lifestyle (maybe that wood block doesn’t make sense after all).
- Get the soaker tub or fancy shower tiled with amazing patterns.
- Do go for more lighting (the often neglected area of bathroom renos).
- Invest in energy efficient fixtures – dual flush toilets, faucets, shower heads, steamers, etc .
- Do install 2 sinks, if there is room.
- Don’t forget about storage for towels, toiletries, etc
If you love your home but it is not quite big enough, adding space is a worthwhile investment. Additions that create additional living space and functionality are well worth the investment in your forever home.
- If you are putting new flooring in one room, reconsider and do all the rooms on the same floor. Bringing the same flooring throughout the home creates a feeling of spaciousness and looks great. If budget is an issue, do the installation over time but buy the flooring for the entire space! This would also be the time to consider in-floor heating.
Renovating Your Home to Sell
Investing some money to fix up your home is expected when you plan to sell. The investment is more about making your home appealing to the masses rather than for your own preference. Major renovations should be avoided especially if it will not add any value to your home.
Updating kitchens and bathrooms – the most important rooms in the home – should only be kept to the essentials. Major renovations are only essential if these areas are old and it shows. Only then will you see a return on your investment.
Keep updates to decorative touches. Update the backsplash if it is a dated design. (white subway tile is always a win!). Choose modern faucets, cabinet hardware, and lighting. If your sink is scratched and old, invest in a new one.
The key to bathrooms is ensuring it looks clean especially the shower and toilet. Look at the shower insert – does it need to be replaced with a new one? Be sure to replace all caulking and ensure the grout in the shower is clean. Do you need a new toilet? These are all budget friendly updates that make a huge difference!
Linoleum from the 70’s? Carpet that is worn? You are gonna have to get new flooring. It will add value to your home and is worth the investment. Otherwise, ensure that all floors are clean, shiny and any scratches/stains are attended to.
Everyone knows that giving a lick of paint to your home is the least expensive way to refresh it. This is definitely a good idea when selling. Painting the walls and trim (yes!) a neutral colour (even if you don’t like it) appeals to the masses. Neutral colours enable buyers to visualize how they would like it instead of focusing on your dingy and dented walls (we all have them!).
A final word…
Don’t lose sight of why you are renovating! Always keep in mind whether your are selling your home or keeping it as your forever home.
P.S. If you need help just contact me! I can help you with your renovation or preparing your home for sale.