Often times we don't invest the money into a remodel until we look to sell our Halifax home. In an ideal real estate market, a remodel would add value, but in today's market, expensive pre-sale renovations, for the most part, aren't worth it. According to Remodeling magazine's 2010 Remodeling Cost vs. Value survey, remodels done in 2010 will only recoup 60% of their price when the house is sold.
If you do decide to remodel before selling your Halifax home, look to the two rooms that potential buyers look at most; the kitchen and bathroom. You don't have to invest a lot of money to impress potential buyers. Here I will go over what to do and what to avoid when considering a pre-sale renovation:
Kitchen
Don't invest in expensive professional-grade appliances. Who's to say potential buyers will appreciate them. Instead, service your existing appliances so that they work perfectly. However, if your appliances are so out-dated they are affecting the asking price of your home, consider replacing them with new standard model appliances.
Also, if your home lacks any appliances that most buyers consider essential - a microwave or dishwasher for instance - it makes sense to buy one (for example-you can get a nice dishwasher for under $1,000).
If your cabinets need some updating, it may be more budget friendly to reface your existing ones instead of completely replacing the cabinets. Many refacing companies will give your cabinets a fresh façade for well under $2,000, and it's a good investment in creating a positive impression of the room without doing a pricey knock-down. Remember to keep them neutral to appeal to the majority of the buyers looking at your home.
If new countertops are in order, keep it simple with a good durable option. Spending thousands on granite, tile or marble may turn out to be a waste of money. With so many colors and options these days, it's impossible to find one style that will please most people. However, if your countertops are in great shape, potential buyers will be happy to inherit them knowing they can replace them with their own style eventually.
Hire a professional cleaning company to come in and make what you have sparkle. Admittedly, it may not make your kitchen look magazine worthy, but it will certainly make it look a lot better and presentable to potential buyers. If you invest in making your kitchen look well-cared for, potential buyers will recognize that it's a kitchen worth taking care of.
You can easily improve the kitchen with little to no money as well. De-clutter your counters before potential buyers come into your home. Make sure your pantry and cabinets are clutter free also; they will be opened. Putting colorful flowers and perhaps some seasonal placemats on your table will reinforce the idea that the kitchen is the heart of the home.
Bathroom
When it comes time to update the bathroom, don't invest in expensive tub/shower replacements or replacing your vanity with a lavish, new built-in model. These kinds of big-ticket items are a matter of personal taste and potential buyers may not agree with the style or appreciate the money that you invested.
Instead, replace outdated bath and shower fixtures with energy efficient new models. You can purchase and install a large rain-water model quite inexpensively and give your bathroom that subtle spa-like quality.
Also, freshen up the vanity area by investing in a large mirror and nice lighting. Purchasing a nice faucet is well worth it, as, like the showerhead, it's a true basic-and updating the basics, in most homes and markets, is all you should be focusing on.
Details costing little to no money will make your bathroom stand out and will catch the attention of buyers. If you want to add a little interest to the wall, try a simple, straight-lined wood or stainless-steel floating shelf with a few candles on it. You can also add a colorful floor mat or rug. Adding a little color and warmth will make potential buyers welcome and, again, make sure to be clutter free. Keep beauty essentials out of sight.
It's important to set your budget before pre-sale renovations begin, and remember that your style may not be the same as the person buying your home, so keep it neutral and cost efficient.
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