I’m a Real Estate Agent: 4 Home Renovations To Prioritize in 2024
Written by
Laura Beck
Edited by
Chris Cluff
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Home renovations require careful planning and prioritization to ensure you get the most bang for your buck. Before embarking on any renovation, consider your budget, how long you plan to stay in your home and what buyers in your market are looking for.
If you’re strategic about which renovations are most beneficial, you can refresh your living space and potentially boost your home’s value when it comes time to sell. You should always prioritize renovations that are either affordable or offer a high return on investment.
We spoke to Jen Turano, an agent with Compass Real Estate, to find out which projects you should tackle first to maximize your home’s value.
Kitchen
Investing in a full kitchen renovation or targeted updates is often money well spent. The kitchen is often one of the top priorities for homebuyers, so an outdated or dysfunctional kitchen can deter buyers or result in lower offers than you were expecting.
“If your kitchen is dated and not functional, updating your kitchen or starting anew can be costly, but may be well worth the investment,” Turano said. “Plenty of buyers will only consider a house that has an updated or new kitchen.
“If you do embark on a kitchen reno to sell, be sure to make choices that will be well received by most people. Choose quality materials, higher-end appliances, keep the colors neutral and clean, and follow current design trends — but don’t over personalize too much.”
If you’re intending to sell your home, you should opt for timeless finishes and appliances to appeal to a wide range of buyers.
“Renovating a kitchen is also something that can add quite a bit of enjoyment for a homeowner who doesn’t plan to sell,” Turano added. “Whether you’re a passionate chef or someone who loves to entertain, the kitchen can be the heart of a home and a spot well worth the time and money it takes to renovate.”
A kitchen renovation can greatly improve your own enjoyment of your home as a space for cooking, gathering and making memories.
A New Coat of Paint
For a cost-effective renovation, consider repainting rooms in light neutral tones. A fresh coat can instantly brighten up a home and make it look like new.
“Whether the objective is to brighten the home, infuse personality into a room or freshen up your space, paint can be an inexpensive fix,” Turano said. “I recently listed a client’s home that was freshly painted a beautiful, soft white color to match the more colorful décor, and we received positive feedback from prospective buyers. The home was bright and cheery, and though not new, it felt well cared for and tidy.”
New paint can make even an older home feel fresh, clean and move-in ready. Painting is an easy, affordable way to prep your home for sale and cover up any scuffs or signs of wear and tear. The right color scheme can transform the ambiance of your space.
New Décor
Refreshing your home doesn’t necessarily require expensive construction projects.
“Sometimes a home’s greatest transformation can come not from construction changes, but rather from new furnishings and décor,” Turano said. “If you’re feeling uninspired in your home or tired of decades-old furniture, why not redecorate? If done on a budget, this doesn’t have to be a costly endeavor.
“This is one reason the staging business has become so popular in recent years. We’ve witnessed firsthand how a home’s décor choices can impact a buyer’s decision to buy a home and often how much they are willing to pay. There are countless examples of homes that sold quickly after being staged.”
Professional staging shows buyers how beautiful a home could look with the right furnishings and décor. Even if you’re not selling, small updates like new throw pillows, area rugs or framed artwork can breathe new life into your rooms.
Don’t Forget the Exterior
While interior updates are important, don’t underestimate the value of enhancing your home’s exterior as well. A beautiful exterior makes a strong first impression on buyers and sets the stage for a positive showing.
“I work with many clients who question the prioritization of exterior improvements vs. interior improvements,” Turano said. “It is true that a turnkey, updated home is attractive to most buyers. But first impressions matter too. Driving up to a beautifully landscaped home or one with new siding and fresh paint can also impact one’s perception of the home.”
Exterior renovations aren’t just for resale value. Homeowners also can reap lifestyle benefits from yard upgrades and facelifts. Refreshing the exterior can make your everyday arrival home that much more enjoyable.
“These changes can also bring joy to a homeowner who doesn’t plan to sell,” Turano added. “If you love to garden or spend time outdoors, improving the exterior appearance may make you fall in love with your home all over again.”
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