Q. Having just purchased my first home I’m super excited to renovate it and make loads of expensive home improvements. I’m wondering though which improvements are best in the long run for later on when I want to sell the place, if I’m only going to stay for 5 years or so is it really worth spending a small fortune despite the fact that I may or may not get it back?
A. Buying your first home is truly a magical experience for most of us and of course it’s only natural that you would want to decorate and renovate it to the highest standard, this is your home after all, the place that you have saved endlessly for so of course you want to make the best of it. In the long run though it is wise to consider how much of your hard spent cash you will actually get back in the future if you were to sell. Some things are relatively cheap when it comes to home improvements and others extortionately expensive. Kitchens and bathrooms of course fall under the expensive umbrella but they will definitely add value to the property, the sentiment that kitchens and bathrooms sell houses is absolutely true, when an Agent goes to value a property with these two rooms finished to a high standard he knows for sure that that particular property will not be on the market for long. These two rooms are of course the most expensive to replace so from a potential buyers perspective he will be willing to pay top dollar for this type of property as it means he won’t have any large outlays once completing on his purchase. Good quality wooden flooring is also worth doing – this will be welcomed by most buyers and again looked at as something that would potentially be worth paying a little more for. Of course all of the above mentioned improvements would make your home a wonderfully enjoyable place to live so you would benefit from the improvements and cash spent but with the comfort and knowledge of knowing in the long run looking at the bigger picture you will also be able to sell it at a premium because of the improvements you have invested in. Don’t lose sight of the fact that this property will be your home for a number of years and making it a desirable and comfortable place to live for yourself too should also be important, allow yourself to do a few wild and wonderful things just for your own personal enjoyment and delight too.