Buzz
Unless you have an unlimited budget, deciding which home renovations to prioritize can be challenging.
If you plan to stay in your home long-term, focus on what makes the space most comfortable for you. But if you're thinking about selling, consider what would attract potential buyers and which projects could help you list your home at a higher price.
Here’s what you need to know about a new home renovation calculator designed to make it easier to decide how to allocate your renovation budget.
How to use the home renovation tool
The home renovation tool is provided by Realtor.com, and can be accessed on this page of the site. To use it, you’ll need to create an account and claim your home's ownership, which, unfortunately, restricts access to the tool.
If you’re able to proceed, your home will appear in your MyHome dashboard. From there, simply go to the “Renovations” tab, pick from a list of rooms and projects, and provide a few more details. That’s all you need to do.
The calculator will give you an estimated cost for the selected renovation project, along with an idea of how much it could potentially increase your home’s value. You can also download a detailed report with an itemized cost breakdown for the renovation.
While in your MyHome dashboard, you can also view additional estimates related to your home, such as:
Potential earnings from listing your home on Airbnb
Up-to-date home value reports
How much you could earn by selling your property
How your home's value compares to similar properties currently for sale or recently sold
For further details on the home renovation calculator, check out this release.
