12 Home Renovation Tips for the Real Estate InvestorMar 03, 2021
Renovation Tip #1: When replacing a section of drywall, plan on replacing the entire wall. The thickness of drywall can vary and matching an existing texture in the middle of the wall can be difficult.
We learned this one the hard way. We were remodeling a house built in the 1940s. We needed make the opening from the living room into the hallway larger. During demo the new opening that was created did not have a clean drywall edge. A new piece of drywall needed to be added. Unfortunately, the drywall we bought was not the same thickness as the original drywall so there was an offset in the middle of the wall. We ended up replacing all the drywall on that wall.
Renovation Tip #2: Adding under cabinet lighting in the kitchen will brighten up the dark space between the upper and lower cabinet and show off the backsplash.
Light brings life to a space. No one likes a dark, dreary space. Electricians are our favorite people to work with!
Renovation Tip #3: Do your own permit research then have a conversation with your contractor about pulling permits and who will pay the permit fees. Never assume the proper permits have been pulled.
Renovation Tip #4: Be careful when adding high tech features to a home. They may add marketability but not add market value.
Do your comparable sales research before spending money on high tech features.
Renovation Tip #5: Tile labor is generally the same regardless of the type of tile being used. A backsplash or shower might be a place to splurge a little on your choice of tile.
Create a backsplash or shower that has a custom or one-of-a-kind look to add both marketability and market value.
Renovation Tip #6: Homes can never have too much storage. Think about ways to maximize built-in vertical storage.
Add shelves and cubbies by a backdoor entrance. Use the space around the door for open shelves. Wall cabinets are narrow so add floor to ceiling wall cabinets to a blank wall without losing a lot of floor space.
Renovation Tip #7: Find ways to add architectural details to your project such as: adding a transom window above an interior door or using exterior wall sconces on both sides of an interior door. Create a custom look adds both marketability and market value.
Renovation Tip #8: Make sure that all building inspections have been completed and closed before listing your property for sale.
Renovation Tis #9: Do not be afraid to choose light fixtures that are large enough to be noticed and make a statement.
Renovation Tip #10: Consider adding a wood ceiling to a room. Wood adds texture to a space.
If the floor in the room is a darker color then paint the wood ceiling a light color. If the floor is lighter in color use a darker stain or color on the ceiling.
Renovation Tip #11: Use an alkyd enamel paint for the interior trim. It will give your trim a smooth and luxurious look.
Renovation Tip #12: Do not let emotions drive your renovation decisions. Make your decisions based on your comparable sales research.
Our community "Think Like An Appraiser" will guide you through basing your renovation decisions on research and due diligence rather than emotions. Join today!
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