When renovating a home for your target demographic, it’s imperative not to spend too much money on areas that will barely affect your ROI. With an optimal resale price as the end goal, it’s primarily important to do your homework on your property’s neighbourhood. By asking yourself several questions, such as ‘who would move here?’, the areas in which you should strike a hammer when renovating will become much clearer. For instance, if you’re renovating a property with a young family in mind, focusing on an ergonomic flow from the backyard to the living room and back to the kitchen will be key.
Matching your potential buyers’ expectations will also steer your renovation efforts in the right direction. So, if you’re dealing with an older home, think Victorian or Edwardian, it makes sense to retain as much of the older characteristics as you can. However, consider your floorplan, too. As many older homes tend to have bathrooms situated at the rear of the house, this arrangement renders cumbersome in our day and age. Read more about my take on how to renovate for your demographic over on Switzer.