It’s the fundamental question facing anyone who has ever embarked on a home renovation: How likely am I to get the money back when I sell my house? There’s no easy answer, because what a buyer might be willing to pay depends on many factors — everything from the choice of project to the materials you use to the value of other homes in your neighbourhood. But it’s important to have some idea of what your improvements might be worth. If your looking to sell in the not so distant future keep mental notes on other properties that have sold in your area and what they have sold for. Look into getting an appraisal pre renovation, want to invest more than you can hope to recoup because you love your house and plan to live in it for a long while, that’s fine, but your home’s cost should stay be in line with your neighbourhood, your improvements should be in line with the value of your home
Projects That Pay
Not all Renovations are created equal. Buyers look first at kitchens and bathrooms, So while these rooms can be the most costly to redo, they’re more likely to pay for themselves, adding living space to a basement ( bedroom, bathroom, Rec Room ) redoing a family room or master suite, also tends to fare well at resale time and just because a project is expensive doesn’t mean it will pay back more. Often, minor improvements can yield major dividends. A fresh coat of paint, refinishing cabinets, changing countertops and upgrading appliances can be a better return more than a full redesign. Spend wisely and tastefully hire the right people. It will make it look a million times better.
Styles That Last
Even when your remodelling job is an appealing improvement for most buyers, it adds little value if done to just your taste. When choosing kitchen cabinets, countertops, and flooring, aim for classic or neutral colours and styles. Want a splash of colour put it on the walls or incorporate themes and designs of your taste with items that can be easily removed or refinished don’t expect somebody else to pay for your unique and funky choices.