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Selling your home is a time of change, and maximizing your return on investment is a top priority. While you might be moving for various reasons, getting the best price for your home is always a key concern. Many sellers start thinking about ways to boost their home’s value, and that often leads to the question: renovate or remodel?
Renovate or Remodel? What’s the Difference?
Renovating involves upgrading your home with newer materials or finishes, like replacing bathroom tiles or updating kitchen cabinets. Remodeling, on the other hand, changes the structure of your home, such as adding a new room or expanding a space. While remodeling might seem like a great way to increase your home’s value, it rarely pays off as much as you think. In fact, remodeling can often cost twice as much as you’ll earn back when you sell. On the other hand, renovating is typically more cost-effective and can have a significant impact on your home’s appeal.
Here are 5 renovations that are smarter and more affordable than remodeling.
1. Repaint Your Home, Inside and Out
A fresh coat of paint is one of the simplest and most effective ways to give your home a facelift. Whether you stick with the existing color or try something new, make sure to use the right type of paint for each surface. If you’re feeling creative, consider an accent wall or a unique color scheme for different rooms. Ask for advice at your local hardware store on the best paint options.
2. Refloor Where Needed
While your kitchen tiles may still look great, worn-out carpets or outdated flooring in other areas can make your home feel tired. Whether you want to replace the current flooring with a similar material or switch to something new, fresh flooring will give your home an instant update without major construction.
3. Repurpose an Underused Room
Got a room that’s not serving a purpose? Whether it’s a guest room, attic, or garage, think about how to transform it. Turn that spare room into a home office, a music room, or even an art studio. When buyers see a functional, inviting space, it helps them envision how they might use it too.
4. Modernize the Kitchen
A kitchen update is one of the best ways to add value to your home. Simple upgrades like new sink fixtures, updated countertops, repainted cabinets, or even replacing appliances like the dishwasher and stove can go a long way. However, be cautious not to over-modernize. Choose updates that fit the style of your home and the neighborhood.
5. Update the Bathroom
Along with the kitchen, the bathroom is a key area where updates pay off. You don’t need to add another bathroom—just ensure the ones you have are clean, modern, and welcoming. Consider replacing the sink and toilet with more eco-friendly models, updating shower fixtures, or installing a new vanity.
Plan Carefully and Make Smart Decisions
Before diving into any renovations, take a close look at your finances. Understand that while these updates can increase your home’s value, you may not get all the money back when you sell. If you’re considering bigger projects like adding a room or deck, do it because you’ll enjoy it, not because you expect a big return on investment.
Finally, it’s always smart to consult with a First Team real estate agent who knows your area. They can provide insight into which changes will truly boost your home’s market value, helping you make the best decision for your future.
