As a property owner, itโs easy to fall into some renovation traps. Here are a few mistakes youโll want to avoid:
โ Not researching which renos and upgrades offer the best returns.
โ Expecting to get all your money back (and more) when you sell after making an upgrade.
โ Choosing renos that feel good but neglecting those that could give you major returns if you were to sell or refinance to tap into equity.
Do your homework! Find out what buyers in your area want and what future buyers would find appealing. While some renos will be for your personal enjoyment, keep in mind they might not always translate to higher resale value. ๐ธ
Here are seven budget-friendly renovations under $5000 that can make a big impact:
1. Front Door
2. Lighting
3. Carpet Replacement
4. Bathroom Upgrades
5. Fireplace Upgrades
6. Window Treatments
7. Painting
Invest smartly, and your home will not only look great but also potentially offer a better return when itโs time to sell or refinance!
