The Don'ts of Renovating Property for Sale
Acquiring a house, for instance, through inheritance from a close family member such as your parents or grandparents should be an investment boost. However, if you are planning to sell, the resale value of your home would depend on how you renovate it, more so if it is aged. While home renovations cost a tidy sum of money, you are more than likely to recoup your initial improvement investment. As such, it is important to plan strategically on how you are going to approach renovations. Most importantly, you should avoid doing the following:
Don't Obsess Over Paint -- If there is one thing you should not obsess over in your inherited piece of property, then it is paint work. The reason you should not spend sleepless nights worrying about paint is that it is the easiest component to alter in your house. It does not matter how bad the paint job is, all you need is few friends and a couple of hours. Such a simple arrangement could dramatically change the face of your inherited property. For the interiors, however, you need to scrutinize the state of the surface to establish if it could be repainted.
Don't Over-Improve -- Everyone wants potential buyers to fall in love with their newly renovated house immediately you start giving them a tour. It is for this reason that you might find it necessary to add some not-so-important features to the home. Noteworthy, you should first consider the buyers you are targeting. One thing with over improving is that you might out price yourself and lock out potential customers. Features like custom cabinets and state-of-the-art garages do not guarantee a big return on investment. If the house is in a neighborhood where homeowners do not pay attention to such upgrades, avoid the urge to over-improve.
Don't Ignore the Yards -- The front yard and backyard are two areas you should never neglect. Home renovation does not mean improving the house alone; it means sprucing up every bit that needs work in and around the home. Since the front yard is the first thing potential buyers see, make sure that it leaves a lasting impression on them. On the same note, since in most cases the backyard is the last area where prospective customers would finish off their tour before making a decision, you should renovate it as well. The best part is that yard work does not have to be expensive since a few tools and basic gardening skills are all you need.
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