Skip the full gut jobs
If you walk into a house and know you want to redo the kitchen’s entire layout and completely remodel two bathrooms, that’s usually too much for the average first-time buyer to take on, Cushing says. But, that doesn’t necessarily mean you should move on a fully renovated home, either. Instead, he suggests finding a house that lands squarely in the middle -- one that is in the location and price point a buyer wants, but may need a few cosmetic upgrades (paint, updated flooring, or changing out a kitchen countertop, for example). All of that will build equity in the home without you, as the owner, having to take a huge financial hit. If you utter the phrase “Well, we could just tear down this wall…” know that those renovations often get unexpectedly pricey, take substantial amounts of time to complete, and require liquid cash, fast.