Your home is a considerable investment, and remodelling its living room can make the value of this asset of yours even higher. It is essential to remodel your living room in a way that fits your current requirements and enhances its market value.
We share four tips for your living room remodelling project to increase utility and market value.
- Define your home’s target buyer.
- Match your budget to your home’s market value.
- Invest in timeless features. Don’t waste money on trends.
- Light up the living room.
Tips To Maximize The Value Of Your Living Room Remodel
Maximizing your home’s value while improving the living room for you and your family comes down to considering your home’s target buyer, your maximum budget, the features and lighting.
Define Your Home’s Target Buyer
The moment you start planning for your living room remodel, you should know your target buyers when it comes time to sell.
Imagine the kind of people interested in buying your property; you may want to look back on why you bought that house in the first place.
Is it located in an excellent school district? Then maybe the potential buyers of your home are the parents of a young family. Maybe your living room could feature built-in storage for toys.
Did you buy it because it’s a great retirement community? Then maybe your home will sell to retirees. Perhaps the living room can have a simple layout that is easy to navigate for people with mobility challenges.
You’ve chosen that property for a reason; all you have to do is improve the property to serve your target buyer better. Apart from the benefits they can get from the area where your home is located, they can gain a lot more from a living room designed with their particular needs in mind.
Match Your Budget To Your Home’s Market Value
Buyers will never lay out a million dollars for a home in a neighbourhood with houses that can buy for just half that price.
The amount you will sell your home should be somewhere near the price the other homeowners in the area are selling theirs.
Do some research and know how much the houses in your neighbourhood are purchased for. You can ask realtors about the price you can sell your home before and after remodelling the living room. Have a living room remodel to ensure your property is worth more than the price of nearby properties… but do not overspend.
The most common mistake in real estate is overspending on a renovation. You may not be able to recoup your costs if you exceed the potential selling price of your home.
Invest In Timeless Features. Don’t Waste Money On Trends.
Going for the trendy option can be exciting today, but it may not be what the buyers would look for when you’re ready to sell your house.
When you choose a design, make sure to choose a timeless look.
Classic living room interiors are still the safest options because they remain aesthetically pleasing regardless of the era, and can be transformed into a contemporary-looking setting with new furniture and decorations.
Light Up The Living Room
You will never go wrong with a well-lit living room.
A house abundant in illumination is easier to sell because the light gives the property a positive vibe. It will look more spacious with the right lighting choices and proper window design and positioning.
There should be layered lighting; the light fixtures should illuminate all the corners of the living room. Layered lighting creates a balanced atmosphere and a pleasant ambience that any buyer will surely not miss.
Once you determine who’s in the market for your home and the house’s market value, then you can appropriately plan your remodel. As long as your considering others and your budget, you will make the right choices. You can never go wrong with a classic, well-lit design.