How much Remodeling should we do?
This blog was originally written by Joan Cox. When considering remodeling it is always a very good idea to keep in mind the value the work will bring the home in the end. Joan said it best in regards to the biggest pay-off coming from taking care of the maintenance and repairs needed around the house. It's not sexy, but man is it important. Buyers take points off any house that needs repairs or maintenance that needs to be caught up.
-Todd J Garrigus
I get calls all the time from my past client with thought of doing some remodeling/upgrading of their homes --- and love these calls! Much better to get these calls before they spend money on items in the home that will not produce value. (Unless they are adamant about an item!)
In years past, there was a very good chance with upgrading or remodeling parts of your home, you could realize up to 70% of the cash outlay. In our strong Seller's market, the homes updated will see higher sales price versus the ones that are not. There are lots of investors out there looking to fix one up for cheap!
The biggest payoff will be maintenance items needing repair. Make those small repairs as a seller PRIOR to listing your home. In the long run, it will cost you less! Even in this strong seller's market, buyers are paying high prices, and wanting the deferred maintenance repaired!
Quality vs quantity has been the common place also. Instead of "adding on", remodel the existing area with upgraded products. The more open floor plans that flow are very important also when thinking of new projects. Replacing older kitchen appliances with stainless steel goes a long ways with today's buyers! Replacing counter tops with granite or quartz is good option too, but be sure not to upgrade more than what your neighborhood will endure.
In newsletters to my clients, I always stress - if you are planning some major projects with your home, ask me what could bring you more money down the road, if you should want/have to sell. It could pay off!
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Metro Brokers - House to Home, Inc.
GRI, CRS, CNE, e-Pro
Broker/Owner
Joan@JoanCox.com
720-231-6373
A Denver Metropolitan Realtor
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