The time and cost you are willing to spend on a home renovation should be directly tied to the reason behind said renovation. If you want to spruce up your home because you plan on living there the rest of your life then it might make sense to put on an addition to the house. However, if you are thinking about selling your house in the next year or two and only want to make it more marketable then you need to be more mindful about the renovations you undertake. Sadly, there are many renovations that only return pennies on the dollar, and unless it’s a major deterrent to selling the house you never want to spend too much money on an upgrade. Even the best upgrades won’t return 100% of your money.
One of the first things a potential buyer will notice is the outside of your home. Often times buyers will drive right by a house if they don’t find the outside appealing enough. Since you get one shot at a first impression you want to make it a good one. Make sure that the grass has recently been cut, and the lawn is fairly manicured. Also, plant some perennials and clean the weeds out of the flower beds. Lastly, install some cladding and composite fencing and decking. Companies like Futurewood have a wide range of composite fencing options. Once they are installed they require almost no maintenance and upkeep, and are basically weatherproof. Not only do they look great but they also double as an awesome selling feature to any potential buyer.
Kitchens and bathrooms generally have the highest rate of return on any investment. I’m not saying that you should completely gut and renovate any room in the house if you are planning on selling, but some upgrades are much less costly. Granite countertops are a must have in any kitchen or bathroom these days, however they are obviously very expensive. Consider companies that take existing countertops and put a thin layer of granite over them, giving the appearance and feel of granite without the high cost of an entire slab. You can save a lot of money going this route.
A dining room or spare bedroom is always a nice to have in any house, but upgrading them simply doesn’t return the money you’d think. Often times some cheap furniture will do the trick. Forget about wainscoting and trim, just throw a nice dining room table in there and everything will look better. The best part is that you can take it with you when you leave, the table is only for staging the room.