Is remodeling your kitchen or bathroom is a good idea before selling your property? What difference it can make to the value you get on your property? Well, there is a lot of controversy in this regard and some people will tell you that investing in a kitchen or bathroom remodeling project will fetch you better value for your property while others will be more skeptical and advice you to abstain from such projects if you really intend to sell out your property. But this is a decision not be taken depending upon the judgment of others and you should actually consider things by yourself and make a learned decision.
As a matter of fact, you should be investing very wisely or don’t invest at all on remodeling projects for more often than not the value that a remodeled kitchen adds to the value of the property is less than the investment made for that purpose and the same goes for Bathroom Renovation Sydney too. More importantly it is to be noted that the bigger the investment is for a remodeling project the more money you are likely to lose while selling your property.
How much to invest?
As a rule of thumb real estate agents as well as kitchen and bathroom remodeling contractors recommend that you should not be investing more than 10% of the total value on a remodeling project and under such conditions you stand a chance of making profit on your investment. Always keep in mind that expensive remodeling projects often fail to add enough value to a property and should be avoided if you are planning to sell off your home in near future.
How to maximize your return on investment
For modern bathrooms and kitchen renovation projects you can still make your investment count if you keep the following things in mind –
- Keep it simple: If you still want to renovate keep the color and style of the kitchen simple. Kitchen those are simplistic in nature and style are found be better preferred by buyers.
- Repainting: This is an inexpensive upgrade that you can really consider as 98% of home buyers are found to prefer freshly painted kitchen in neutral colors and this can add more value than the expenses.
- Re-flooring: Re-flooring your kitchen is an affordable way of changing its look and appearance and with the various affordable flooring options now available this is an effective way of attracting the customers and giving the feel that they are actually investing in a property that is almost new.
- Lighting upgrades: This can bring in a great change in the look of the kitchen without a lot of investment and though they might not add as much as you have invested but the amount of loss won’t be much and finding a buyer will also be easier.
Refreshing the cabinet: Replacing the cabinets will require big investments and they will hardly fetch the value spent upon them. That is why getting the cabinets refreshed with a new coat of paint or changing the handles and pulls can make some noticeable differences.
