Before you decide to sell your home, there are several decisions to be made. First and foremost: "How much should it sell for?" But don't forget there may be other equally important questions to ask yourself such as "Would it be better to paint the entire house before we sell it?", "Should I put in that third bathroom?", "Should I complete my kitchen remodel?" Many things which we do to our houses have an effect on their value. Unfortunately, not all of them have an equal effect. While a kitchen remodel may improve the appeal of a home, it may not add nearly enough to the value to justify the expense.
Renovations are vital if you want to maintain your home's value. But don't expect a dollar for dollar return on your investment. Think of renovations as helping to reduce loss due to depreciation rather than adding value.
Some renovations do, however, have a bigger payback in maintaining value than others.
A detailed interactive estimate can be made using the Renova interface here.
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