Whether you recently purchased a new home or are renovating one you’ve been living in for a while, there’s one thing that’s inevitable—renovations don’t come cheap. So, whether you plan on selling in the next few years or even a decade down the line, making the right changes can mean the difference between selling your home faster and for more money, or having it sit on the market longer and settling for an offer you didn’t want.
Here’s how to maximize your return on investment in home renovations, according to interior designers.
Work With An Interior Designer
You might be a design enthusiast or a DIY-lover yourself, but when it comes to making the right renovation decisions, it’s best to consult an pro.
This doesn’t only make your project go more smoothly, but it also opens access to a world of discounts.
Depending on the cost of the project, hiring a designer can even end up paying for itself.
Prioritize Kitchens and Bathrooms
Your best ROI is always in your kitchens and bathrooms, because that’s where buyers notice upgrades. When you go to sell, you list at market price and recoup the difference from what you invested.
Just keep in mind, while buying something like a high-quality appliance or solid wood cabinets can be worth the money, not all finishes are. No one will pay you back for an $80,000 marble backsplash.
Keep a Bathtub
If you’re renovating your bathrooms, be sure there’s at least one tub available in the home. While many people prefer a walk-in shower, if your home is large enough for a family (so a two-bedroom or larger), a lack of a bathtub could be a major dealbreaker. Don’t make the mistake of removing the only tub in the house. Even if you’re not a bath person, many buyers—especially those with young children—see it as non-negotiable.
Layout Matters
While styles change, a bad layout will be just as frustrating today as it will be in two decades from now, definitely turning off future buyers. If your layout isn’t functional for you, more than likely, it’s not functional for the next person. It may be lacking in bathrooms, storage, living room adjacencies, or kitchen flow. If you can solve these issues in your renovation, you’re on the right track.
Open Up Your Floor Plan
If your home is on the smaller side open up the floor plan to give the illusion of more space. Removing a single, non-structural wall to connect a kitchen and living space instantly makes a home feel bigger without adding square footage. The more open it feels, the more value buyers see.
Evaluate the Home’s Mechanical Systems
It’s not glamorous, but Obermann suggests getting your home’s mechanical systems inspected, in case they need to be updated. If electrical, plumbing, and HVAC services are outdated and approaching the end of their lifecycle, consider replacing these. No homeowner wants to spend the funds on their new place and have to replace the AC in August. People want reliability and quality.
Choose Renovations That Don’t Fight Your Home’s Architecture
If you live in a 1920’s Tudor-style home, that ultra-modern sleek fireplace will always look out of place, especially to future buyers. Architectural grounding should drive all of your design decisions. Your interior needs to interweave with the home’s architectural style. Most aesthetically driven buyers have an architectural period and style they prefer; a cohesive design will grab them emotionally, and you could even end up in a bidding war.
Consider Curb Appeal
First impressions are everything, especially to prospective buyers. Curb appeal investments are worth it. You only get one chance to make a first impression, and you want it to be impactful. Whether that means fresh paint or updated landscaping, it’s money well spent.
Buyers feel that a well-kept exterior means that the clients love their home and increase the likelihood that the homeowner has a well-kept and well-maintained interior. It’s wise to spend money on a landscape designer if your exterior entry needs some sprucing.
Don’t Splurge on Anything Too Personal
Highly personalized renovations aren’t a smart financial move. Niche built-ins like a dedicated espresso bar or dog-washing station may delight one buyer but turn away ten others. “Broad appeal attracts more interest and more serious offers.
However, that doesn’t mean you can’t make your space feel personalized. Treat yourself to a customized sofa or accent chairs—something you can take with you to your next home.
Opt For Neutral Paint Colors
Do you love lime green? We’re not judging, but you should definitely be aware that the next person who lives in your home might not be a fan. It’s best to opt for neutral paints if you’re renovating and hoping to sell soon. A seller will automatically see immediate increased returns when buyers feel a home is move-in-ready and does not require the expense of a painter.
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