Passion Projects Vs High Return Projects in Wilmington NC
Both Have Their Merits
It can be hard to know whether your project is actually a passion project or something that will give you a truly great ROI and mean something to possible buyers in the future. However, we’ll go over the differences today, but just because something maybe falls into the passion project category, doesn’t mean you’re doing something wrong.
This is especially true if you plan on living in the home for over 4-5 years. If you really want something done, then go for it! Just know that when it comes time to sell, there’s a chance other people might not have the same level of love as you do for the project! So, let’s start with what the difference really is.
Understanding the Difference
Let’s start with the three remodels that while they can be something you’re passionate about, will give the best return.
Kitchen Remodel - This is the number 1 (sometimes 2 depending on the market) true ROI investment for a remodel. This will almost always give a great return and also be something extremely useful for you while you live there.
Bathroom - This is the number 2 (or sometimes number 1) way to get the most back out of a remodel. People are attracted to beautiful and functional bathrooms. Again, this is a great project for everyone as it will give you a high ROI plus make your time somewhere more enjoyable.
4 Season Room - This is pretty specific for Wilmington NC, but since you’re here, might as well take advantage of the weather! Not only does this add square footage to your home, but it’s also super usable space.
Now, onto some ideas that are more passion projects. Obviously, we can’t cover all of them but this gives you an idea.
Overly extensive trim - while amazing trim can look amazing, it generally doesn’t add function to your home, so, it will all come down to buyer preference, and if they don’t have the same preference, it won’t give a great ROI.
Colorful Paint Schemes - While you may love, and spend a lot of money, on tons of colors for your home, they can easily strike others in the wrong way.
Built-in Beds - While some people love building in bunkbeds and built-in beds, this limits a potential buyer to your layout.
Non-Conventional Choice - this covers so much, however, anytime you build something unconventional like a big built-out drywall piece or a built-in art piece (there are hundreds of these honestly), while you may love it, buyers might not.
When to Do Either
So, that leads to the question, how do you pick between the two? The main factor really comes down to when are you planning on selling. If you are going to stay for a long time, go crazy, and might as well have your house look the way you want! However, if you’re planning on selling in the next 4 years, it can actually hurt you in the long run.
If you’re thinking about a renovation in Wilmington NC and want a team that can not only help you design your dreams but also take the job all the way, call the team at Avocet Design Build today to turn your dreams into reality!