Before You Sell Your Home: What You Should Remodel
Remodeling and improving your home can be the perfect way to gain extra space, give it a much-needed makeover or make it possible for you to stay longer.
However, will any of these improvements increase your selling price when you want or need to sell your home?
In preparation for that possibility, it’s important to understand that not all home improvements are alike. While some home remodeling projects will indeed increase the value of your home, some can actually make selling more challenging.
To make the most of your remodeling projects, it pays to keep the basics in mind – the things that buyers expect when they purchase a home. This includes features like a roof that doesn’t leak, quality functioning gutters and downspouts, a dry basement, a working furnace, walls that are in good condition and other common-sense items that one would expect to find in a home.
In upscale, luxury properties, this also may include air conditioning systems, a specific number of bedrooms, bathrooms and garages, as well as any other amenities that are typical to the neighborhood, such as a swimming pool.
Keep in mind: adding these items to a house that lacks them doesn’t necessarily add value, it simply brings the property up to the standard level of the rest of the homes in the neighborhood. Money spent on these items is unlikely to be fully recovered, but should at the very least result in ensuring that the home sells for a price that is comparable to other homes in the area.
Here are the projects we believe help generate the highest resale value:
- Kitchens. Most people prefer to see modern conveniences and styles in the kitchen. Specifically in older homes, kitchen improvements tend to add great value.
- Bathrooms. Second to kitchen remodels are bathroom remodels. Once again, modernizing older styles can result in good return.
- Outdoor improvements. Your house makes a first impression quickly, so sprucing up its curb appeal is a smart investment. This includes siding, exterior paint and landscaping, particularly what can be seen in the front yard.
- Roofs and windows. We all know that roofs and windows can be expensive to replace, and buyers generally expect these to be in good condition. Unfortunately, this means that while replacing them doesn’t significantly increase resale value, not replacing them could dramatically decrease it.
Here’s another way to think about what projects are worth the time and money: take a walk around your property and look specifically for potential turnoffs to prospective buyers. They could be major problems, such as a leaky roof or broken windows – or, they could be small aesthetic ones, like peeling exterior paint.
As far as structural problems, such as plumbing and electrical systems, always call in a licensed and bonded professional contractor. Remember, if you try to make major repairs on the cheap, you could end up paying more in the long run, especially because you’ll likely have to hire an expert to fix your mistakes.
You’ve probably already heard plenty of stories about people experiencing a home remodeling nightmare. Projects go over budget, take months to complete, corners are cut, and contractors disappear. However, this doesn’t have to be your nightmare. Reach out to Republic West Remodeling for home remodeling ideas from one of the leading professional contractors in the Phoenix area.