3 Tips to Get the Best ROI on Home Renovation

Published on – Feb 05, 2014

Are you planning to give your house an upgrade with the goal of increasing its market and resale value? If so, consider these suggestions:

Choose Your Renovations Wisely

Expensive and time-consuming renovations like expanding your home’s square footage, expanding rooms by knocking down walls and adding swimming pools, can cost you lots of money, which you might not be able to recoup.

Pick projects that are easy and affordable instead. These include deck/patio addition, loft conversion, window glazing and home cladding, landscaping and entry door replacement. Converting your loft into an additional bedroom, for example, will enable you to recoup about 72% of your expense, while a wood deck addition 73%.

When it comes choosing your projects, pick those that allows you to recover your investment and possibly increase your home’s value come resale time.

The following companies might be able to help you ensure the success of the renovations you have in mind:

  • Kloeber UK Ltd – manufactures and supplies of high performance timber, aluminium, composite and uPVC glazing solutions
  • Cooltec Patios & Decks – designs and constructs patios and decks according to customer specifications
  • Easigrass.com – distributes and installs advanced artificial grass products that are perfect for the back garden, front garden, nursery or play area

Prioritise the Priorities

If you badly wanted to upgrade your kitchen but your roof needs the most immediate attention or your bathroom’s fixtures need replacement, do the latter projects first especially if you can’t afford to do all the necessary renovations at the same time. This is most important if you’re planning to sell your home in the near future as price-conscious buyers are likely going to ask you to make the necessary repairs or drop the sale price of your property.

You can save more money, time and effort by prioritising areas that need immediate attention instead of fixing those that are not broken. So, choose your projects well and know what to prioritise.

You might find the following helpful in your planned home improvements:

  • Cass Brothers Baths – a specialist in bathroom, kitchen and plumbing supplies, offering you a wide range of products to choose from
  • Wall Cladding Installers – specialises in architectural glazing systems to enhance the look and energy efficiency of any building

Take a Look at Your Competition

If you are renovating your house with the goal of selling it at a greater amount, then make sure to renovate for marketability. You would want to make sure that the projects you pursue will make your home comparable to others in your neighbourhood because if you under improve, the other houses will sell before yours does. Of course, you would want to avoid over improving, too; you might not be able to recoup your investment if you do so.

The best step for you to take here is to look at real estate listings, talk to agents and attend open house events in order to find out what features are standard or common among the houses in your neighbourhood. If for instance everyone else has converted to sliding doors for their wardrobe or have glass doors for their patio, consider making these changes to your home too. Or you can also invest in a few home additions that no other homes in the neighbourhood have. For example, a granny flat in the backyard or an outdoor living space furnished with quality wooden furniture.

Check these out for your future home improvement projects:

  • Granny Flat Construction – supplies prefabricated granny flats, sleepouts and relocatable homes
  • SpaceSlide Wardrobe – a specialist in contemporary home additions, including folding glass entryways, frameless glass doors and more
  • Gainsborough Showers – is a reliable supplier of a wide variety of showers and parts.

When it comes to home renovation, choose those projects that will give you the best value for your money. Also, hire a company with a good track record in the business like Banks Buidling Services Ltd .