Is a home renovation worth it?

If you are considering selling your home, you are probably considering doing some renovating or updating.

The goal is to get a higher price for your home, correct, and have those renovations pay for themselves? If you are like most Sellers, it’s hard to know which home improvement projects will yield positive price improvements. Will creating a gourmet kitchen with new appliances, quartz counters, new cabinets and flooring be worth the hefty five figure price tag? Will repainting the interior or the exterior be a recoverable expense?

Ask an expert. Talk to your Realtor about features in other homes in your neighborhood. They can tell you what updates have added value — either via an increased price or a quicker sale. Get an appraisal. An appraiser can give you a solid idea of how much a renovation will impact the sales price of your home. An appraisal is also a great sales tool, helping buyers feel comfortable with your asking price.