Selling Your Home? Talk with A Home Remodeler First
When it comes time to sell your home, like most homeowners, your main priorities are probably selling quickly at the highest price possible. Ensuring that your home is in top shape and offers the amenities buyers are looking for may mean upgrading your home or expanding your floor plan with a home addition. Making wise choices when considering home improvement projects can help you maximize your return on your investment and prevent your home from lingering on the market.
A Remodeling Consultation Is Key
Before you commit to any specific home improvement project, assess your local market. Review recent sales in your neighborhood and determine which upgrades they offered that will make your home stand out from others on the market. Get a remodeling consultation with a local home remodeler, like Republic West Remodeling, to figure out how much those upgrades will cost and if they are cost-effective. For example, if the average price of comparable homes in your neighborhood is $250,000, it is unlikely you would recoup a $50,000 high-end kitchen upgrade. However, if your neighborhood is a family-friendly community that features modest two and three-bedroom homes, adding a third or fourth bedroom may boost your home’s appeal and provide a nice return on your investment.
Keep in mind that any renovations you undertake should enhance the aesthetic of your home and add value, without pricing it out of the market. Your remodeling consultation will help you decide if upgrading to marble counter, built-in sauna, or a custom steam shower is a good idea. While you might enjoy the upgrades if you stayed, there are specific low to no-value upgrades it would be smart to avoid, as they can lower your property value, provide no return on your investment, or make your home hard to sell.
Isn’t a Luxury Master Bath a Must?
While upgrading the master bath can be a good investment when planned thoughtfully, it is easy to overdo it with too many high-end extravagant touches. Custom designed tile, waterfall showers and fireplaces may cater to your personal design aesthetic, but they may not be high on your prospective buyer’s list. Additionally, a luxury bathroom might not increase your home’s value in proportion to its cost. For example, according to Remodeling.hw.net, in 2015, a $54,115 upscale bathroom remodel only recouped 59.8 percent of its expense. If your home offers another tub in the guest or family bathroom for occasional bubble baths or bathing children, consider opting for an upscale shower in the master bath instead. During your remodeling consultation with your local home remodeler ask them to identify which bathroom upgrades will provide the best bang for your buck.
Consider Preferred Flooring
Most potential homeowners prefer wood or tile flooring, so if you end up spending thousands to installing carpeting, it will likely be torn out shortly after closing. Even if your current carpeting is in good shape, it can turn away buyers looking for a more contemporary look. Your best bet is to have your local home remodeler help you choose an appropriate, neutral hard flooring option.
Are Garage Additions a Good Value?
While some of your prospective home buyers may have additional garage space on their wish lists, it is not likely you’ll recoup the average $17,093 to $37,235 a typical mid-range two-car garage would cost. A typical garage addition will return just a little more than half of their original cost to a home’s value. That said, if none of the homes in your neighborhood have garages and yours does, that’s a good selling point. Likewise, if your neighbors generally have two and three car garages and your home doesn’t, that could leave your home languishing on the market. Ask about buyer garage expectations during your remodeling consultation.
Focus on The Kitchen
Kitchen remodels are popular for many reasons. Most homeowners consider the kitchen to be the heart of their home. From the seller’s point of view, kitchen upgrades are a winner because they not only boost your home’s resale value, but also provide the best return on investment of any remodeling project. Most kitchen design experts and real estate agents recommend setting aside a kitchen renovation budget of approximately 15 percent of your home’s total value. According to Remodeling.hw.net, the average kitchen remodel cost $20,122, with high-end renovations costing up to three times as much. The good news is that you can expect a return on that investment of 83.1 percent. Ask your local remodeler what the most popular materials and finishes are in your area during your remodeling consultation. The kitchen renovations that bring the most value include:
- Home additions
- Replacing countertops
- Upgrading the kitchen sink and faucet
- Replacing or adding a backsplash
- Refinishing, refacing or replacing cabinets
- Upgrading appliances
- Increasing storage
- Installing intelligent lighting
Republic West Remodeling: Your Local Home Remodeler
At Republic West Remodeling, we offer two decades of experience helping homeowners in the Phoenix and Phoenix metro area make remodeling decisions that will boost home values and encourage a fast sale. For answers to your home remodeling questions, or to schedule a free, no obligation, remodeling consultation, contact us or call (480) 428-2695 today.