01/14/2020
US market home sales of renovated homes was valued at $394 Billion in 2018, with a projected increase to $680 Billion by 2025. Renovating a home can be a big project, but along with regular preventive maintenance, the upgrades and repairs can increase the value of a home and help with negotiations during selling. Before starting home renovation, however, here are a few things to note:
1. Talk to family and friends who have renovated their homes. Ask about their experiences and any unexpected challenges.
2. Ask for quotes from several different contractors, and make sure to gather references from family and friends and check online reviews.
3. Review your financial resources and create a budget. Don’t forget to factor in a cushion in case of project scope creep.
4. If you are buying new furniture or appliances for renovated rooms, double check the size before purchase. You don’t want to design a beautiful new kitchen only to find out at the end that the space for the oven is too small.
5. Consider having a home inspection before staring the renovation process to help determine a need for additional repairs or upgrades.
Follow our Home Renovation Series this week for additional tips and tricks to help you get the most out of your home.