If you are a homeowner confused by which improvements will add to your home’s value as you gear up to sell it, you’re not alone. Some home improvements will directly affect the selling price and some will be the equivalent of a bad investment, having no affect. So, the question remains, to remodel or not to remodel?
Answers to the common question: Should I remodel my home before selling it?
The answer: maybe! Some projects are worth your effort and some just won’t bring back the return to justify your investment of time and money. Here are some key points to keep in mind when planning to remodel before placing your home for sale.
Some improvements should be avoided!
Unique improvements that suit specific tastes can not only be a waste of money but also create a negative for potential home buyers. Things like wine cellars, hot tubs, custom closets or expansive room additions can be ill-suited to the taste of prospective home buyers.
The kitchen status: It’s complicated!
The kitchen is one of the most important rooms in the house for buyers. The decision of whether to remodel your kitchen or not is a complicated one. A few questions that you may ask yourself when weighing your options are:
- Will a facelift do? A fresh coat of paint, new cabinet faces, replacing any broken or outdated appliances may be enough to get your kitchen up to scratch.
- Or will a remodel be needed? If you do an honest assessment and recognize that a facelift is not going to be enough, a kitchen remodel may be in your future. A good rule of thumb is to stick to mid-range appliances and choose neutral color patterns. Getting too trendy or modern could be a waste of money because the style might only appeal to your personal tastes.
Leaky roofs can’t be ignored!
If your roof is in need of repair or replacement, this is an area that will be, most likely, picked up during the inspection process. It could drive buyers away in the worst case scenario or delay your sale at the very least.
Bathrooms are personal places!
Outdated bathrooms can be a turnoff to prospective buyers, but totally remodels may not be worth the investment. A complete bathroom renovation can cost in the range of $250 per square foot or more. When you do that math, a 5 x 8 bathroom may cost in the range of $10,000.
- So, should I do it or not? You have to assess the state of your bathroom(s). Could a facelift get your bathroom up to scratch? What other remodels will your home need to be ready for sale? What is your budget?
- A key tip to consider: If you do decide a bathroom remodel is needed, be sure to stay neutral. Bathrooms are personal spaces and home buyers can be turned off by styles and colors that are not to their taste.
Exterior – Don’t overlook the outside of your home when considering your investment in improvements, pre-sale. A fresh coat of paint and landscape overhauls can help with the value and appeal of your home. Neutral and universal colors and tones should be kept in mind as tastes can vary.
Easy facelifts for the interior – There are some easy facelifts that can be accomplished even on a tight budget and make a big difference in the speed with which your home is sold In some cases, these facelifts will even increase the value.
Here’s a list of some facelift efforts to consider before listing your home for sale:
- Hire a professional cleaning service to do a deep clean and detail of your home.
- Replace carpet or flooring that is extremely stained or damaged.
- A fresh coat of interior paint is a relatively small investment but can make a big difference.
- Repair or replace broken or outdated lighting.
Ultimately, there are many efforts that will directly affect your home’s selling price, but there is a tipping point where the expenditure is not justified. When considering what improvements to invest in, be sure to stay neutral and go for the blaring issues first.
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