But not all renovations are created equal, and it's important to make strategic choices to maximize the return on your investment. Here we go through some common types of renovations, their impact on the home's value, and what you should consider before you get started.
1. Kitchen renovation - The heart of the home
The kitchen is often the room that potential buyers value the most. A well-planned kitchen renovation can significantly increase the value of the apartment, especially if you update to modern appliances, stylish design and smart storage solutions.
Tip:
- Choose timeless materials and colors that appeal to a wide audience.
- Focus on functionality, such as better storage and workspace.
- The budget should be adapted to the home's current value – too expensive renovations in relation to the area can lead to a reduced return.
2. Bathroom Renovation – A Profitable Investment
A fresh and modern bathroom can also be a strong factor for price increases. New tiles, better ventilation and modern fixtures make the apartment feel more exclusive.
Tip:
- Choose durable and easy-to-clean materials.
- Consider energy-efficient solutions, such as low-flushing toilets and water-saving shower heads – this is attractive to environmentally conscious buyers.
- Keep in mind that bathroom renovations often require electrical and plumbing professionals, which can increase costs.
3. Surface renovation – Fast and cost-effective
Refreshing the walls, floor and ceiling is a simple method to give the apartment a lift without breaking the budget. By repainting or changing the floor, you can quickly make the home feel like new.
Tip:
- Light and neutral colors work best, as they appeal to the most buyers.
- If you are laying a new floor, choose durable materials such as parquet or vinyl planks.
- Small details, such as new moldings and door handles, can give a more thoughtful impression.
4. On-site Storage - Optimized Area
Creating built-in storage in the form of wardrobes and smart solutions can transform even small apartments into more practical and attractive living spaces.
Tip:
Focus on maximizing storage in the hall, bedroom and kitchen.
Choose built-in solutions that do not take up too much space but offer maximum storage.
Adapt the storage to the style of the apartment, so that it feels integrated with the rest of the interior.
5. Energy efficiency – Long-term value increase
Energy-efficient solutions such as new windows, insulation or energy-efficient appliances are becoming increasingly attractive on the market, as they help the buyer to lower operating costs in the long term.
Tip:
- Install energy efficient windows and doors.
- Replace old appliances with energy-labelled alternatives.
- Review the insulation in walls and ceilings to reduce energy consumption.
What Should You Consider Before Renovating?
- Budget and Cost Effectiveness: Set a realistic budget and plan the renovation according to what will give the greatest value increase in relation to the cost. Do not overrenovate in an area where real estate prices are relatively low.
- Target audience: If you're renovating for a sale, think about what buyers in your area are looking for. Luxury renovations in a mid-range apartment may not return as much as functional updates.
- Hire Professionals: For complex renovations such as bathrooms or electrical work, it is important to hire certified craftsmen. Improper installations can not only be expensive to fix, but also scare away buyers.
- Think Long-Term: Choose materials and designs that stand the test of time. What is trendy today may be out of style in a few years, so invest in timelessness.
Final Thoughts
Renovations are an effective way to both improve living comfort and increase the price of your apartment when sold. By carefully considering which renovations provide the most value for money and what your target audience wants, you can maximize your investment and create a more attractive home.
