Return of Investment 101: Home Improvement Tip of the Week

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There will always be a fun factor when it comes to improving your home. Agree? Of course, you’ve got the chance to apply your ideal home design to your own property. Well, there will definitely be a lot of careful thinking and planning as to what and how you are going to renovate and/or arrange the things inside and outside of your home – and that alone makes it more fun and challenging to do on the part of the homeowners.

A lot of you here, especially homeowners, are into home improvements. While others do the renovation for their own lifestyle, other homeowners do it to for investments. Generally, when they know and learn new ideas, they usually and/or immediately apply their learning in their own home. However for some, they just can’t pull it off. Sometimes, they fail to have a careful plan on what they are supposed to do.

Well, if you are one of those homeowners who have a hard time thinking on just what to do when it comes to home improvement, then you might want to try applying these simple tips on how you can make it a success, and for you to have a higher return of investments. Whether you’re living in a bgc condo or any other real estate property,  you can apply it on your own home.

Tip # 1: If you want to boost your property value, remodel the bathroom

Some of you here might be planning on selling and/or renting your home, or at least in the future. If you do, then you better remodel and improve your bathroom. Bathroom? Yes! Why? Bathroom is where we usually clean ourselves; it is where we want to be refreshed. Of course, it will definitely be more refreshing if your bathroom is nice and cozy enough for you to use.

Moreover, there are already studies that show that most homeowners usually see to it that the ideal bathroom that they want to have will also be in the property that they are going to rent/buy. So, you better meet their expectations!

Tip # 2: Every penny you spend on a new kitchen only increases the value of your home by 50 cents.

Before you decide on what you are going to do when it comes to improving your home, it is a must for you to ask yourself why you are renovating your kitchen in the first place. Why not some other places in your house? Well yes, the kitchen is still part of your home which is why we also need to renovate it. However, unlike tip # 1, focusing on the renovation of your kitchen offers among the lowest return of investment.

The kitchen is not just the only room that most people want to spend the rest of their free time with; there are still other rooms that need to be improved which helps grab the homebuyer’s attention. However, if you are still planning to renovate your kitchen, then you just have to make sure that it will not consume too much of your time, effort and money. You better think on what else you need to improve inside and outside of your home.

Tip # 3: Get a higher return on investment by adding a story, not redoing the basement.

When renovating a home, you don’t just renovate the first floor of it, unless your home is a bungalow type. However, adding up a story on your home is a good idea for you to have a higher return on investment. Most of the times, homeowners are into properties that have two or three stories. Especially when the homebuyers have a lot of families to live with them, they will definitely choose a bigger property.

Moreover, as a home seller, you have the right to place a higher value on your property, especially when you know that your property is worthy to have a higher price. With that, you will definitely not be on a losing end of your investment.

Doing home improvements is not that hard as you think. For as long as you know the process and you know what to do when it comes to the renovation of your house, then you will definitely achieve your desired outcome of investments.