You may be questioning whether it would be worth your time, money and/or aggravation to remodel your home before moving. For some homeowners, the act of remodeling could mean a windfall in terms of profit, while others simply won’t see a return on their investment.
As homeowners, we want to do what we can to ensure we get top dollar for our Phyllis Frankel Realty Group homes when we sell, so it often makes sense to consider remodeling as to increase the value of our homes. But are all remodeling projects worthwhile when it comes time to sell your home? The answer to this question depends on a number of factors, all of which will benefit you to consider before calling in a contractor for a remodeling job:
· The price point of the home – The value of your home will likely dictate to what degree you will want to remodel. For example, a small bungalow won’t likely fit well with a high-end kitchen. It would likely make more sense to update the kitchen, but keep the expenses (and the high-end materials) to a minimum. On the other hand, a home with a higher value may benefit more from a high-end kitchen remodel.
· The location of the home – If your home is located in an up-and-coming area that has seen consistent increases in home values, you may be more likely to spend money on a remodel than you would if you lived in an area where home prices are stagnant or even falling.
· The type of remodel – Not all remodels are beneficial to homeowners. As a general rule, it is always best to steer clear of any remodel that is too taste-specific. In other words, when remodeling, it is best to think in terms of what will appeal to the widest array of buyers. Bathrooms and kitchen remodels are almost always worth the cost, while other types of remodels just don’t make sense when it comes to a return on investment.