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Which renovations or remodeling will
be most effective in adding value to your home and helping it sell?
Assuming the house is reasonably appealing and has no major weaknesses,
remodeling the kitchen or bathroom is usually the best choice.
Making
improvements in a home can boost the selling price of the property
substantially beyond the cost of the renovation, and can even mean
the difference in whether or not the house sells at all. But it is
important to make the right changes since some remodeling will add
far less value that what you invested in it. When contemplating an
upgrade, it is wise to consider renovations which are not only needed,
but will enhance the value, and selling appearance the most.
Try to
evaluate your home from the buyer's point of view. What will be the
buyer's first impression? Will the house be move-in ready once
you are out? Will the buyer feel they must paint or make other changes
before they can move in? An experienced Realtor will be able to offer
an objective view, and will also know what buyers are looking, and
asking for. Whether you are considering major or minor remodeling,
it's a good idea to involve your real estate agent right up front
and get his or her input about any projects before you start.
Targeting
Renovations
Renovation or remodeling accomplishes one of two things: it improves
or updates the condition of the home, or it adds features to it.
A small project might be
a skylight; a larger one might be an extra bedroom and bath. Before starting
on any ambitious remodel, sellers should first confirm that their money will
be well spent. Consider the need for basic work like replacing old drafty windows,
adding insulation, or painting.
Assuming the house is otherwise appealing,
modernizing the kitchen is usually
a worthwhile investment. As the "heart" of the home, the kitchen is
also the main workplace, and modern convenience is expected. Buyers are attracted
to a bright, cheerful, convenient kitchen. Floors, counters and cabinets should
be in good condition. Appliances should look good and operate properly. It helps
to have light paint, tasteful window coverings, and lots of sunlight or pleasant,
artificial lighting. If there is limited cabinet space, consider adding some
inexpensive organizing and space-saving devices. For older kitchens, replacement
of countertops, floors, cabinet doors or appliances can freshen the look and
improve the utility of the kitchen without disturbing the character of the room,
and with less expense than a complete remodel.
Another good candidate for refurbishment
is the bathroom. Buyers are fussy about cleanliness, and a sparkling, clean,
looking-like-new bathroom is an excellent
sales feature. Many of the renovations can be done in a weekend without hiring
a contractor. If you do need the services of a contractor, ask friends or your
favorite real estate agent for referrals to companies that provide quality
service. Plan to Sell Soon
Plan to sell soon after the completion of the remodeling so your
home will show in its best possible condition.
According to a study
done in the Seattle area by REALTOR Magazine and Remodeling
Magazine the six renovations most likely to increase the value of your home
are: minor kitchen remodel, bathroom addition, major kitchen remodel, bathroom
remodel,
adding an attic bedroom and putting in a home office. The impact or both
major and minor remodeling is not the same nationwide, so be sure
to check with your
local real estate agent about how your remodeling plans will affect buyers
in your area.
Even if you decide not to do any remodeling,
a thorough cleaning and a fresh coat of paint inside and out is usually
a big help in
appealing to potential
buyers. |
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