Homeowners who may be getting a home ready for resale, or who are just trying to decide if it’s time to update the kitchen or bathroom may be confused as to whether or not the home renovation needs to take place. In today’s real estate and home mortgage markets, it makes more sense than ever to be sure that the bathroom or kitchen renovation being planned is the right way to go.
When it’s Time to Renovate the Bathroom
Bathroom renovations can help transform a small, cramped or outdated bathroom into a more user friendly space. But when is it really time to renovate the bathroom? The first step to deciding is determining how long the current homeowner will be living there. If the house is going to be sold soon, and the homeowner is trying to decide if updating the bathroom will help resale value, their decision process will differ from a homeowner planning on remaining in the home for at least ten years.
Any time that there is a leak, water damage, cracked or damaged tiles, or a leaking faucet that is not shutting off, it is absolutely time to renovate the bathroom. Damage should be caught and repaired as quickly as possible to avoid a more expensive renovation down the road, if water damage has spread to other areas of the home. Homeowners hoping to sell the house will have an easier time selling a bathroom that is clean, and in good shape, rather than a bathroom that may be infested with mold, or has a lot of damage.
If the bathroom is in good shape physically, but is tired or outdated looking, it only makes sense to invest the money if the homeowner is planning on staying in the home for at least ten years. Homeowners hoping to sell the home relatively soon should just take care that the bathroom is in good shape, and not worry about the colors or age of the tiles and fixtures. It’s impossible to get into the head of a potential buyer, so allow them to remodel if they choose, provided everything is in good shape.
Homeowners planning on staying in the home for at least ten years, can remodel to enhance the space for their needs. Add more storage, body sprays, or simply update to a style that is pleasing; all provided that it is affordable at the time.
When it’s Time to Renovate the Kitchen
Like bathroom renovations, kitchen renovations should take place if there is damage that could lead to more expensive repairs if left unchecked. Kitchen renovations should also be undertaken if the working triangle of the kitchen leaves the space difficult to function in. This is particularly helpful if planning on reselling the home within five years. Homes with kitchens that have space flow problems, or are cramped, as well as out of date, may sell more slowly than homes with user friendly and up to date kitchens. In many real estate markets, a kitchen renovation will add value to the home, up to and including the cost of the renovation.
Cosmetic updates for kitchens that have good space flow, no damage and cabinets in good condition may be a better option than an entire renovation. Replacing counters, sinks, faucets and backsplashes can go a long way toward making a kitchen look and feel updated without the long process involved in a full scale renovation.
Resale value, and real estate markets vary by region, so speak with a Realtor if there are questions about whether a renovation can assist with resale. Remember to have damage looked at right away to make sure it won’t lead more expensive repairs down the road. Making decisions wisely can help avoid costly mistakes at any time.
 |
