Spring is a great time to update your home! With the arrival of warmer weather and longer days comes the itch to improve our dwellings, both inside and out. However, some renovations simply aren’t worth the investment or the effort. In many cases, you can achieve the same goal by spending less and focusing on key fixes. Get more bang for your renovation buck with Covelle & Cohen’s do’s and don’ts.
DO — Go for a neutral wall color. Our go-to is Super White by Benjamin Moore in a Semi Gloss Finish. There’s nothing like the fresh look and smell of a new coat of paint. And, if you do it yourself, it’s a relatively inexpensive home upgrade. And don’t forget about that trim — today’s buyers want white woodwork.
DON’T — Paint a room just to shake things up. While you might have impeccable taste, the majority of buyers are going to be turned off by a deep red wall. When it’s time to sell, you’ll probably find yourself painting over it.
2. KITCHENS AND BATHROOMS
DO — White bathrooms with natural vanities, brass fixtures, and patterned floors are in. Luxury fittings such as free floating bathtubs and shower stalls not only look incredible, but they’ll hold their value overtime. In kitchens and baths, buyers love all white walls, with white subway tile and gray grout. In the kitchen, go for a timeless look with quartz countertops, contrasting islands, and warm flooring.
DON’T — Go nuts. In kitchens and baths, the truth is that you only receive 50 cents on the dollar for every renovation dollar spent. If you splurge on designer lighting and fixtures, save on cabinets where Ikea will do. We call this the high-low game.
3. FLEX ROOMS
DO — Utilize every inch! Finish that basement or attic. As more people than ever are working from home, it pays to transform unused areas into combined living and work space, such as a movie room, office with built-in desks and storage, or even a Pinterest-worthy upscale laundry room. Most buyers will pay more if they’re able to envision just how lovely life at your home is with these amenities.
DON’T — Build more. Still want more space? Before considering an addition, make sure you’ve maxed out all your “flex rooms.” Building up and out is costly — only expect a fraction of a return on that investment.
DO — Where do you typically find money? On the floor! Have your floors been carpeted or tiled over for decades? Uncover them. Chances are, you’ll find original hardwood flooring underneath.
DON’T — Splurge on carpets. While the plush fibers of a brand new carpet feel great on your feet, a carpet’s short lifespan means that the expensive stuff isn’t worth it. Because carpets stain and wear overtime, consider them a temporary installment.
DO — Install new technology like keyless entry, security cameras, and “smart home” and efficient home upgrades, such as smart refrigerators, lighting fixtures, and Nest thermostats. Buyers love high-efficiency everything, and these upgrades eventually pay for themselves because you’ll cut energy costs using them.
DON’T — Some things just will not add more value to your home. We find that buyers are not willing to pay more for new roofs, sprinkler systems, A/C units, or windows. We call these things “stabilizers.” Replace these only if necessary for you to enjoy life in your home.
Your home is your greatest investment. We’re always happy to strategize how you can both build equity as a seller and uncover potential equity as a buyer. Contact Covelle & Cohen today!