Remodels: What’s Good for Resale and What’s Not
You want to get the best price for your house. You’re willing to do some remodeling – if it will deliver significant ROI. What’s worth the effort? Here are three projects worth considering and three that you can skip.
The kitchen: Kitchens sell homes. If your culinary center is looking worse for the wear, it will likely turn off potential buyers. Updating your kitchen is a good way to increase the value and appeal of your home.
Bathrooms: These areas are also high on buyers’ priority lists, so they should be on yours, too. Focus efforts on the master bath and the powder room.
Curb appeal: First impressions are important and the front of your home is the first thing buyers see. Make efforts that will boost curb appeal, such as repainting the exterior, adding plants, and sprucing up the entry with a new door. These projects can often be completed at low cost but offer high return.
Pools: While you may enjoy countless hours of fun in your pool, this feature probably won’t pay for itself in home value increase. In fact, it could be a turnoff for some buyers.
Wine rooms: While they may sound elegant, wine rooms or other original-design spaces are often too niche. Their limited audience makes them a poor investment choice.
Removals: Just because you never use that fireplace doesn’t mean you should demolish it. Removing features is typically not a good investment. Potential buyers may wish it were still there, and you aren’t likely to recoup the cost of removing the feature.
For expert input on your remodeling efforts, contact us. We can discuss the projects that could get the best return on investment and what I’ve seen in demand in your market.