Whether you’re buying an “As Is” property with plans to rent it, or simply planning to live in your new home while fixing it up, here are some renovation tips that can help you build equity while keeping money in the bank.
Find the Right Team
Many handy buyers, especially those who plan on living in their properties while renovating, like to do home improvements themselves. This is great for some projects, but not all. When it’s time to bring in the professionals, choose the right team to save a ton. Hiring large scale companies can be expensive. If you’re not in a time crunch, then find a one or two-man local handyman. But do your research, be sure they come with glowing recommendations.
Strip Away Carpet
Hardwood floors are a timeless trend, so finding hardwood under that old carpet is a new homeowner’s dream. Remove the carpet and sand the floors down to completely revamp your living, dining or bedrooms with minimum effort and maximum result.
Improving the lighting in your home is inexpensive and guaranteed to improve the look and feel. Add new lighting fixtures to any room that seems dim, and be sure to focus on any room you put a lot of effort into remodeling. Show off those new stainless steel kitchen appliances or that upgraded bathroom. Nothing is more depressing—or less appealing to buyers—than a dark room.
If you’re buying a property that needs work, chances are the roof may be in need of some TLC. Before you plan to replace it, find out when it was installed. If you’re flipping for resale, a new roof may be a hot selling point. But if you plan on living in the home yourself, you may be able to make repairs and keep the current roof for another 10 years or so.
Reface Kitchen Cabinets
An updated kitchen is one of the home’s most important selling points, and can create a huge lifestyle improvement, as kitchens are high traffic areas. This means it’s a smart place to spend a large chunk of your budget. Cabinets take up a large portion of your wall space, so you want them to look great. However, new cabinets can be pricey. Reface what you have and save thousands. Spend that saved money on new appliances.
Fresh paint, inside and out, is the cheapest way to make a large impact. Stick to neutral colors and get to painting. Don’t forget the details; paint the trim, the garage door—even the mailbox!
For more information on renovations, please contact RE/MAX of Boulder, Inc. at 303-449-7000 or 1-800-825-7000.
RE/MAX of Boulder, Inc. located on the corner of Canyon and Folsom, is nationally and locally recognized as one of the most successful real estate offices in the industry. Nationally, they are one of the "Top 500 Power Brokers in the United States" as listed in National Real Estate & Relocation magazine. Real Trends ranked them #1 in the Nation for Closed Sales Volume for 2010. Regionally, for the 5th year in a row, the company has been named the #1 RE/MAX office in America for Single Office Closed Volume. They can be reached at 303.449.7000 or visit http://www.BoulderCO.com. Connect with them on Facebook and Twitter, search remaxofboulder. Subscribe to their YouTube channel and see videos of all their homes for sale at http://youtube.com/remaxofboulder