Ask the Experts: I Might Sell Soon – Is it a Good Time to Remodel?
Owning a home is a wonderful thing. Selling it, however, can be stressful. Should you remodel to sell your home? Remodeling can either net you a decent return or it can mean cash out of your pocket.
This is your home and you want to get the most out of the sale, so the idea of remodeling is about earning a larger return. But is it a good time? Is it worth the cost?
What Are the Comps?
Before you remodel to sell your home, look into the comparative listings (sold and for sale) in your neighborhood. Compare homes of similar age and size. Study what each have in common and what’s different. From here, you’ll get your first idea of what specific home remodeling projects will produce return on investment (ROI).
Big Projects vs Small
When you remodel to sell your home, you need to think about a realistic return. At a time like this, a major remodeling project won’t garner 100% ROI – it needs time for that kind of job to reveal and build its value.
When getting ready to sell, the smaller and more strategic the project, the higher the return. Here are a few ideas that can be done fairly quickly through your remodeling contractor.
Simple Changes to Provide a Return
- Cabinet facelifts: Refacing provides instant appeal. Staining is often the easiest, but you can also replace old and worn doors.
- New hardware: Upgrade your kitchen fittings, door hinges and knobs, cabinet handles, drawer pulls, even light fixtures.
- Flooring: New flooring can change the atmosphere and raise the appeal in every room of the house. New high-end engineered hardwood and laminates are especially simple to install.
- Bathrooms and kitchens sell homes. Repaint, replace the sinks and faucets, redo the countertops, and both rooms will feel almost new. The impression these rooms make is often the difference between a competitive offer and one below list price. When offers are changed, they almost always do so in multiples of $5,000, which is less than it costs to do these remodels before selling.
- Backsplashes and paint: Replace the backsplashes with something striking and add new coats of paint. Both are easy, inexpensive, and provide good return.
- Exterior facelift: The first part of your home that a buyer sees is its exterior. So, replace your front door and upgrade its hardware. Maybe add flower boxes to windows and be sure your home’s exterior is clean. Add new window treatments and fix any exterior scuffs, stains and paint issues.
Bring in your contractor for some simple fixes. Repair roof problems, windows, plumbing, electricals, baseboards, foundation cracks, and generally fix everything noticeable that may come up in an inspection. Flaws in a home can be a real deal killer.
So, if you plan to remodel to sell your home, talk to your friendly contractor for advice about best ROI jobs and getting them done promptly. Even better, the work is guaranteed.
“Romney Tripp started construction in 1977 and formed RWT Design & Construction in 1992, eventually setting up the shop in Burbank. From the mid 1980’s Romney has been working on building recording studios as well as…” Read more.
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