Last week, I sat down with Rick Kaplan from the New England Real Estate Journal to discuss the current working environment, residential renovations, cost vs. value, and other relevant topics.
Now that we are all spending more time at home, it comes as no surprise that everyone is taking a closer look at their spaces, evaluating what works and what needs improvement. There is no doubt that there will be a shift in how people approach a home renovation or new build project down the road. Projects like screened-in porches and sun-rooms may become more frequent requests, so there is an aspect of indoor/outdoor living. Home offices, gym, and more expansive living areas and bigger kitchens are most likely to be on the list as well.
When it comes to cost vs. value, especially for someone who is considering selling their home in the future, short term projects such as a fresh coat of paint and refinishing floors give a space a new fresh look for a minimal cost. How do you determine what improvements give you a more significant return on your investment? Take a look at the rooms that give you the most frustration. Most likely, it is your kitchen, bathrooms, master bedroom/bathroom. Improvements to these rooms can be quite costly but historically benefit you in the end. But one important thing to remember – know your home market value and be aware of your spending – you want to make sure the investment is worth it.
To see the video on YouTube, check out the video!