Living room remodels can be a safe investment if you plan wisely and are willing to put in some personal time and effort. Regardless if your motive is to prepare your house for the market or you just want an updated look, there are a few things you’ll want to consider when planning your project.
The Basics: What needs to be done first? Make sure you start with the essentials – a comfortable sofa, coffee table and well-made rug. Choose décor in a mix of textures and styles that inspire you and reflect you and your life.
Lighten Up: For a welcoming space, use lighting to create ambiance and warmth. Make sure you have enough floor or table lamps and proper bulbs in fixtures to ensure your room is well-lit. If you need an inexpensive update – try switching out your lampshades.
Keep it Neutral: Paint is a great way to change the feel of a room – so if you choose to paint, neutral colors are generally your best bet. But that doesn’t mean colorless – try shades of olive, taupe or gray for your walls and then add pops of color with new accessories, or pillows.
Minimize: Especially if you intend to sell, keep the personal items to a minimum. Try to add larger, bolder accessories and put fewer things on the wall – it’ll help give the illusion of a larger room.
Budget: Updating a living room doesn’t have to mean a big investment if you are capable and willing to do some work. Many times you can drastically update and improve the look of the room by simply painting the walls and updating or changing out the rug and/or accessories with new accent colors and patterns. If you plan to replace flooring or windows, clearly you may need to hire professional installers, which will significantly add to your remodel budget. Actual returns vary widely and are affected by the range of home prices in your neighborhood, the overall condition of your home and sensible design choices.
You will be living in that room – whether you’re there to stay or preparing for a listing down the road. So make it feel updated and current, but still homey, and it’ll be time well-spent and a solid investment.
The Minnesota Association of REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry.