Aesthetics should not only be the only consideration when thinking of home renovations. It is a great idea to change something at home and make it look better. However, you should also start thinking about the return on investment.
Soon, you might decide to sell your property and move to a better location. If that happens, make sure that the property becomes valuable. The good thing about investing in real estate is that over time, the property becomes more valuable. These renovations will also do something to make the place better in the eyes of many people.
Attic insulation for instance might not add to the beauty of the home, but it makes the place more valuable. The return of investment is over 100%. It means that this is something you should probably invest on. Besides, it doesn’t cost a lot of money.
Bathroom remodeling is a renovation you must avoid. It is a popular renovation technique, but it does not help in any way in increasing the value of your home. The cost for this renovation is too high, but you barely get more than half of what you have invested. It is a total waste of money.
The lesson here is to be careful in deciding what kind of renovation to invest your money on. You can take a look at the infographic below for a summary of the common renovations and how much the potential return of investment is. Again, be wise in making a decision.
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