Renovations

Renovating can be costly and inconvenient, but can also increase the value and enjoyment of your home. We look at the main reasons for renovating and how to avoid overcapitalizing.

Good reasons for renovating:
There are two main reasons people renovate:
1. To add to the comfort, use and value of the home.
2. To renovate and to do up to sell.

Staying in the home
If you intend staying in the home you may want to:
> Add extra space to accommodate an expanding family, or simply to add a sense of spaciousness.
> Add rooms for special purposes, such as an office or games room.
> Change the configuration of the house for better flow, ease of use or
orientation to sun and views.
> Update and remodel to give the house a fresher, more modern look – this
could involve major changes such as taking out walls to enlarge a room,
putting in a new kitchen, or installing new wallboards and ceilings. Or it
could simply be a matter of painting or wallpapering.
> Restore the house to its original style (while adding modern features in
some areas, like the kitchen and bathroom).
> Add value to increase your investment.

Renovating to sell
If you are renovating to sell, it is likely that you’ll want to give the house an inexpensive makeover to freshen it up and make it more attractive to buyers. For example, repainting, minor fixtures and fittings upgrade, or possible kitchen and bathroom renovations.

You need to consider the tastes of potential buyers, which really mean keeping everything fairly neutral to appeal to a wider range of people. Not everyone warms to bright feature walls or pink bathtubs.