RemodelFor most homeowners, investing time, energy and money into their properties goes without saying. It’s part of home ownership, part of making a house your own.

There are two main types of work to put into a home, based upon the reasons for doing so. Evaluating your motivation will help you evaluate the legitimacy of your project.

Are you working to (1) improve your living space or (2) attract buyers?

OPTION #1: IMPROVING LIVING SPACE
Common for homeowners who plan to stay in homes long-term, this reason involves making improvements for immediate benefit. The homeowner is the direct recipient of the fruit of this investment, and personal preferences reign. When you’re renovating for the intention of your own use, pick your choice of colors, types, fixtures, etc. You’re the one who will be using it! The important thing to remember is thinking long-term—try to make choices that will stand the test of time to avoid redoing things later!

OPTION #2: ATTRACTING BUYERS
Sometimes when a home is for sale, the homeowners will want to improve the property, in hopes of making it more appealing to prospective buyers. In this case, it’s important to focus on marketing towards the largest number of buyers. Think about neutral wall colors and top-of-the-line, mainstream upgrades. The most important thing to remember is that you’re marketing towards buyers, not yourself. It might not pay off to choose your preferences.

For more information on remodeling, take a look at these Buy Owner Blog articles:

1) Big-Time Home Remodeling
2) Home Projects for a Weekend
3) Series: Improve Your Kitchen
4) Cost-Efficient Ways to Add Value