How To Maximize Your Renovation Dollars

Tina Fountain | Mon September 17th, 2012

You have a budget and a list as long as your arm of things in your home that need taken care of before you call a top selling Atlanta Realtor to sell your home. But what should you tackle, and what should be left undone?

For most homes in most neighborhoods, there are certain areas of the home that pay to renovate, and certain areas that simply won’t give you a good return on your dollar when it comes time to sell. Because of this, there are a number of factors to consider when allocating your renovation dollars:

•    Consider the room – When it comes to updates, today’s buyer typically want to see the kitchen and the bathrooms remodeled. Kitchens and master bathrooms, in particular, remain the largest determining factors of buyers, so it pays to consider these rooms when renovating. Other updates, and whether they are beneficial in terms of return on investment, will largely depend on your home, your home’s price point, the neighborhood and the city in which you live. A realtor experienced in home sales in your area should be able to guide you in the right direction regarding which areas of the home will provide you with a positive return on your investment.

•    Consider the finishes – A renovation has to be attractive, and the materials and finishes must be of a certain quality, but there comes a point when finishes and details both break your budget and the return on your investment. Again, what type of renovations you want to take on will largely depend on the market in your area and your home, but it pays to scale back in terms of luxury if you are renovating for a quick sale.

•    Consider the buyer – Who is buying your home? Is your home located in a neighborhood plentiful with families, or do you live in a retirement community? Answering the question of who your buyer is will often change the way you look at renovations. In addition, your buyer will vary depending on the size of the home and the home’s price point. For example, if your home is considered a modest “starter” home, the renovations you decide to tackle will be much different from a home with a higher price point.

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