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Property Renovations are an excellent way to add value to your house, increase your living space, and create your dream home. However, it’s not always easy to determine which renovations are worth the extra cost and which ones you should avoid. In this quick guide to property renovations, we’ll be examining when it’s worth going the extra mile on property renovations and when it’s best to hold back.
First, it’s important to understand the value of property renovations. Not all renovations are created equal, and some will add more value to your home than others. According to the National Association of Realtors, the top property renovations for increasing home value are kitchen and bathroom remodels, outdoor landscaping, and new windows. These renovations can increase your home’s value by up to 10%, making them a worthwhile investment.
However, it’s important to remember that not all renovations will pay off in the long run. For example, adding a swimming pool may seem like a great idea, but it’s unlikely to add value to your home. In fact, it may even deter potential buyers who don’t want the added maintenance and liability of a pool.
When it comes to property renovations, it’s essential to prioritise quality workmanship. Cutting corners or using subpar materials may save you money in the short term, but it could cost you more in the long run. Cheap materials may wear out quickly, requiring frequent repairs or replacements, while shoddy workmanship can lead to costly mistakes that need to be corrected.
Quality workmanship not only ensures that your renovations look good but also adds value to your home. Potential buyers will notice the attention to detail and quality of work, which can make a significant difference in their willingness to pay top dollar for your home.
So, with all that being said, when is it worth going the extra mile on property renovations?
One good rule of thumb is to always prioritise the renovations that will add value to your home, such as a kitchen or bathroom remodel. Alternatively, if there’s a list of things you really want but you’re struggling to get them under budget, try your best to take them one at a time and prioritise the quality of the work.
Finally, consider going the extra mile on property renovations if you have the budget and are passionate about creating your dream home. Renovating your home to reflect your style and preferences can be a deeply satisfying experience. While it may not necessarily add value to your home, it can improve your quality of life and help to create a space that you truly love.