When it comes to property valuation, renovations are the most elusive quality. There’s no universally accepted way to decide which renovations are worth more or less, or by what dollar amount. But just as there are valuation companies that can (allegedly) factor in your renovations, there are rough guidelines. Here are some that have been relevant for the past decade:
Important note: Interior design is subject to ongoing trends
What’s considered desirable today may not be in five to 10 years down the road; at that point, renovations that would be valued today may be considered dated or undesirable.
In the 1970s, designers made liberal use of wallpaper with bold designs; something that home buyers today tend to consider obnoxious. In the 1990s, there was a brief trend of painting bedroom ceilings black and then using LED lights to simulate the night sky; many buyers today think it makes the whole room too dark.
In general, it’s safest to stick with low-key, perennially modern themes, rather than chase trends. Also, check back with us in a few years, to see if the information below still applies.