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How to Decide Which Renovations to Focus On

Multifuse Team • May 24, 2022

So you’ve got a home in need of renovating. Maybe you just want to bring your house up to date, or maybe there are some issues that go beyond just the cosmetic. Regardless, you need to make a decision as to which one (or ones) to focus on first. But how do you make that choice?

Determine Your Budget

Most of us don’t have a bottomless pool of resources from which to pull to finance home renovations. That’s where a budget comes in. Different renovation projects come with different price tags. If you aren’t sure what renovation to focus on, start by first figuring out what you can afford to renovate. Ideally, you’d finance your renovation out of pocket, but there are other options for financing renovations if you need to explore other options. If that’s what you choose to do, make sure you choose projects that will be worth the investment.

Think About ROI

That leads to the next point. Some home renovations will add value to your property while others won’t. Unless you have money to just throw at your house, you need to consider what sort of value the renovations you intend to do bring to your home. Increasing your property value by renovating it can do a couple of really good things for you. It can increase what you’re able to get for your house when you sell it. It can also help you build equity in your home. Think carefully about the added value compared to the cost of any renovation you’re considering taking on.

Look at What Areas of Your Home Need the Most Attention

Sometimes the choice to renovate your home is a matter of practicality. Homes are subject to wear and tear over time, just like everything else. Add pets and kids into the mix, and you may find that process accelerating at a surprising pace. You may discover that your floors need to be replaced, or that mold has started to grow in your bathroom. If you’re not sure where to start with your renovations, take a good long look around your house and see what parts of your home need the most attention. Then you can go from there.

Figuring out what renovations to focus on first can be a bit of a challenge, especially if that list seems so long as to be daunting. Start by figuring out what you can spend on renovations, what will give you the best return on your investment, and what is most in need of attention. Those factors will help you prioritize your renovations list so you can focus on what needs to be done first.

Check out this article on how to get the best price for your home !

By Dotcom Design 21 Oct, 2022
Gateway Access Realty will assist you if you are thinking about selling or purchasing a house. We focus on your real estate objectives and work hard to discover solutions that work for you. Please contact us right away!
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