Alex Neir at the NeirTeam.com and Kentwood talking renovations to your home. Will that renovation you are planning payoff? We offer some suggestions. All the info:
Ricardo Cordova at Urban Renovators:
We are here with Ricardo Cordova with Urban Renovators to talk about smart renovations.
Ricardo, if I'm a homeowner thinking about renovating my home to sell, what is going to get me the best return on investment?
If you are on a limited budget I would recommend three things. First, freshen up the paint, especially the baseboards. Second, lighting, lots of times homeowners don't think about lighting and it makes a big impact on the overall feel of the home. Third, do a statement piece. Either an accent wall or a backsplash in the kitchen or bathroom if you don't have one.
Ricardo, what do you see your clients doing most often?
About 80% of what we do right now if finishing basements. If you think about it, on average 30% of homes living area is in the basement. Spending some money to finish it can have a significant impact on your equity and generate a great return on investment.
Ricardo, do you think it makes a difference if a home owner is renovating to sell vs. renovating to enjoy?
Absolutely, I think that after you live in you house for a few years you learn what you needs are. Whether you need more space or the kitchen layout lust doesn't work for you anymore or you simply want to update your home.
Ricardo, last question, if I'm a homeowner with a limited budget, say $5000 to spruce up my home to sell, other than paint, lighting, backsplashes and accent walls, what else would you recommend?
I would suggest installing solid surface countertops if you don't have them. New kitchen and bathroom hardware and fixtures are another inexpensive upgrade. Another relatively inexpensive update that makes a huge difference is painting you cabinets if that are in good shape.
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