Is Remodeling Worth the Effort for Resale?
At some point you are likely to consider selling your home; whether you’ve been in it for 1 year or 50. No matter how much you may think it is a home for life you’ll usually end up wanting to downsize, upside or simply release funds.
At this point you’ll probably consider remodeling. After all, you’ve more than likely heard that curb appeal and a well decorated house get buyers interested; the sale is then just a formality.
It doesn’t matter if you selling via the traditional route or looking to use a reputable agency such as Cscerri Auctions. You need to know if it’s really worthwhile remodeling your home before you sell.
The short answer is “It depends”.
When Remodeling Works
If your remodeling efforts are designed to attract more interest in your home then there is a good chance it will help you to speed up the sale.
However, for it to be worth the money you’ve spent you’ll need to make sure that the remodeling pushes the value of your home up by more than you’ve spent.
There are several areas of your home where remodeling is worth the effort:
You need potential buyers to be able to see themselves in your home. This means neutral colors; it allows them to see a blank canvas and their own image. Bright purples, reds, greens and oranges might make you feel great but they won’t necessarily attract a buyer.
A quick coat of paint won’t add much value to your home but it will help you to sell it.
This is still seen as the heart of the home. But you don’t need to rip out your kitchen and replace it in order to make it look modern and fresh.
Instead change the cupboard doors and counter tops. This will transform the room and add both value and appeal to your home.
First impressions still count. You need to spend some time tidying your front yard, driveway and the exterior of your home.
One investment that usually increases your home by at least 110% of the cost is cladding your property.
This will instantly transform it, improve your energy efficiency and reduce maintenance. That’s 3 huge ticks for any potential buyer.
The façade is also important as people will see the outside before they even decide whether to view your home. A good looking façade will make a huge difference.
Don’t forget to complement this look with clean windows and doors. A house that looks loved inspires confidence in buyers.
If you don’t have an en-suite but have the space for one then this is an excellent way to dramatically increase the value and appeal of your home. In general you should expect 120% return on your investment.
You can also remodel the existing bathroom; making sure the furniture is white. This will add a little value to your property and help convince people to buy. The reason is simple, the kitchen and bathroom are the hardest rooms in the home to remodel; if a buyer doesn’t need to do them they’ll be happy.
You can also add decking, an extra bedroom or even convert your attic. These should all add value but you’ll need to check with your real estate agent to confirm the value in doing this.
Most properties have a higher threshold where people simply won’t pay anymore; no matter how great the house is. This is usually because they can get a property in a better area for the same price.
Image via Pixabay