Renovate with Taste not Bling

When it comes to a renovation — be it a kitchen, bathroom or an entire apartment — it’s natural to want it to reflect your needs and tastes. But you should also take the long view: In terms of resale, which renovations will hold their value and, more important, which might help or hinder a sale?

Having worked with both New York City buyers and sellers, broker Christian Rogers of Core observes, “It’s less about the bling than about quality work. Assume that everything you put in, you aren’t going to get back — but using high-quality materials that aren’t taste-specific can only improve the apartment and increase its value.”

There’s no definitive formula for calculating the value you get from specific renovations. But the 2010-11 Remodeling Cost vs. Value report from Remodeling magazine notes that even with a minor kitchen reno — which in NYC averages $24,000 and includes replacing cabinet fronts and counters and installing a midpriced sink and energy-efficient stove — one can recoup nearly 87 percent of the costs.

“I can say from my discussions with brokers that it’s certainly worth it to renovate and modernize the kitchen and bathroom and use better-quality appliances,” architect David Katz says.

In fact, an artfully done renovation can make the difference between something selling quickly — and, in some cases, for a hefty profit — or languishing on the market.

Rogers gives an example of a three-bedroom West Village combination, where the owner did a number of things right, including adding lots of storage in the kitchen, going with modern fixtures in the bathrooms, installing white oak floors that were “elegant, very neutral” and skim-coating the walls.

“In a building where a typical three-bedroom went for around $2 million, this apartment sold for $3.14 million,” says Rogers.

Another renovation that will pay off?

“Creating storage gives you a lot of bang for your buck,” says Doug Perlson, co-founder and CEO of RealDirect brokerage. “New York apartments always have less closet space than you want. And it’s relatively easy and inexpensive.”

And experts are in agreement: When in doubt, opt for functional over frills. Says Martin Horner, principal of interior design and architecture firm Soucie Horner, “Trends come and go, but simple detailing and a neutral palette are timeless.”