If you’re feeling dissatisfied with your living space, the question of whether to renovate or move is not one to take lightly. There are many aspects to consider: the cost of each option, what your desired result is, and how long it would take to achieve each potential goal. You may also be wondering if the proposed renovation would provide a good return on investment, or if your money would be better spent moving to a new home? Renovating can be quite disruptive to your life, but a move can also be stressful. There are many pros and cons to weigh in order to determine the best course of action.
Lindsay Block-Glass from the Modern Real Estate Team understands these questions, and can help clients determine if it’s better to love it (renovate the space) or list it.
“We always consult with our clients first, and our goal is to help them make the best decision by weighing all their options,” says Lindsay. “Sometimes it makes more sense to renovate, and we can put them in touch with the trades people or contractors they need.”
When looking at the renovation cost and timeline, it’s smart to consider whether in addition to adding to the use and enjoyment of the home, it will also provide a good return on investment when the home is eventually sold.
When asked what renovations yield the highest return on investment, Lindsay says “definitely the kitchen! A well-planned, updated kitchen is a highly desirable feature in a home.” Lindsay recently renovated the kitchen in her family home, so she is very familiar with what to expect during the process, and is willing to share her knowledge with clients. Other wish list items buyers have for homes include an updated en-suite bathroom, walk-in closet, new deck or patio, and a well-landscaped yard. All these renovations will add value to a home.
If you would like more information about whether now is a good time for you to list your home versus renovate, feel free to reach out to Lindsay Block-Glass at lindsay@modernrev.com.