5 Renovating Tips to Maximize Your Cabin's Return on Investment (ROI)
August 1, 2011
Today’s real estate market can be as unreliable as your local weather forecaster. However, amid the market’s uncertainty, there are a number of ways you can prepare your cabin to ensure you’re getting the greatest return on investment (ROI). Before putting your cabin on the market, consider these five minor renovations that are certain to increase your payback:
Photo by Tanya Bäck
1. Trade your entry door with a mid-range replacement door. Who says a cabin can’t have curb appeal? Think about it – the entryway is not only where your potential buyers will stand while they wait for the broker, but it’s also the last location they will walk through before discussing their impending purchase.
2. Replace windows, doors and lights with more energy-efficient materials. With today’s constant focus on sustainability and “going green,” buyers will be pleased to know they are doing their part in reducing energy demand and resources, not to mention reaping the financial rewards in energy savings.
3. Update your kitchen and bathroom with new faucets, handles, pulls, sinks and other fixtures. Consider adding new fun appliances, such as an espresso machine or flat screen in the kitchen.
4. Keep cabin space – including closets, bedrooms and porches – clutter free. This allows buyers to visualize where their things will easily fit into the cabin.
5. Forget what you learned in preschool – with cabins, it’s not always what’s on the inside that counts. Adding a beautiful deck or firepit allows potential buyers to visualize the fun and social aspect of owning your cabin.
SOURCE: National Association of Realtors Re/Max