When it comes to home improvements, making informed decisions can mean the difference between enhancing your living space and losing out on a potential return on investment (ROI). To shed light on this topic, I recently sat down with Oliver Bennett, a seasoned home renovation expert with over two decades of experience in the field. Oliver’s insights are invaluable for anyone contemplating a remodel, whether to boost the home’s value before selling or simply to improve your day-to-day living experience.
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Oliver greeted me warmly in his spacious, light-filled kitchen—a testament to his craft. His home, he explained, had been a “living project,” with renovations completed over several years. As we settled in with cups of tea, Oliver began to share his thoughts on the best home improvements for those looking to maximise their investment.
“The first thing I always tell clients is to consider their long-term plans,” Oliver advised. “Are you planning to stay in your home for the next five years, or are you thinking of moving soon? The answer to that question can drastically change which projects make sense.”
Improvements for Long-Term Enjoyment
For those planning to stay put, Oliver recommends focusing on improvements that enhance daily living. “If you’re going to be in your home for a while, think about what will make your life better. Maybe that’s adding a second bathroom to avoid the morning rush or converting an attic into a cosy living space.”
However, he cautioned that while these improvements enhance quality of life, they might not yield a high ROI upon sale. “Adding square footage is almost always beneficial for living purposes, but it doesn’t always translate to resale value. You’ll enjoy the extra space, but don’t expect to get back every penny you invested.”
Despite this, Oliver mentioned that converting unused spaces, like attics or basements, into functional areas can sometimes offer a better ROI. “It’s all about utilising what you have effectively,” he noted.
Best Value Improvements for Sellers
For those preparing to list their homes, Oliver recommends focusing on projects that offer the most significant impact for less money. “Curb appeal is king,” he said with a knowing smile. “A new garage door, for instance, is often at the top of the list for ROI. It’s a relatively small investment that almost pays for itself when you sell.”
He further explained that exterior projects, which improve the home’s first impression, are generally a safe bet. “Think about a fresh coat of paint or some new landscaping. These are cost-effective ways to make your home more appealing to potential buyers.”
Inside the house, Oliver highlighted the benefits of a minor kitchen remodel. “You don’t need to go all out,” he stressed. “Updating appliances, refacing cabinets, and changing hardware can modernise the space without breaking the bank. This kind of project can return a significant portion of its cost.”
Improvements to Avoid Before Selling
As our conversation turned to projects that might not be worth the effort, Oliver offered a word of caution. “Some renovations just don’t offer a good return if you’re planning to sell soon. High-end bathroom remodels or lavish landscaping, for instance, can be very costly and may not add as much value as you’d hope.”
His advice was clear: “Enjoy those upgrades if you’re staying put, but think twice about them purely as a selling strategy.”
Before wrapping up our discussion, I asked Oliver to share his final piece of advice for homeowners considering renovations. “At the end of the day, it’s about balance,” he concluded. “Weigh your personal enjoyment against the potential financial return. If you’re smart about it, you can enhance your home and make a sound investment.”
Oliver’s insights provide a roadmap for homeowners navigating the often overwhelming world of home improvement. Whether you’re tackling a full-scale remodel or making minor tweaks, understanding which projects offer the best ROI can help you make more informed decisions, ensuring your home is both a haven and a wise investment.
By Diana Tahjmir
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