How much remodeling do you do before you sell? I recently had a real estate client that had an older home that she put thousands of dollars in on a remodel while living there. Only to complain that she now needs to get an astronomical amount out of the house once she listed it. I tried to explain, you will not be able to get that back. This scenario is looked at two ways. Yes, you do these things while you are living there for you. But what happens if you decide to sell later? Do you get all the money back? So what do you do prior to selling, which can help get some of your money back?
Cleaning and paint always helps. If you know you are going to be putting your home on the market soon, don’t select those bright colors to paint. Go with more neutral and soft colors on both the inside and outside of your home. If you have stucco and or stone, you might need to get it power washed.
Flooring always is a matter of preference. You sure will not get back the $10,000 you spent on high-end wood or tile flooring you wanted 2 years prior to deciding to move. If you have old carpet, you might want to think about replacing it with something basic. Just cleaning carpet can even help. Give a flooring allowance if it needs to be replaced is always an option.
Getting into a full kitchen or bath remodel is a different monster. You could have done a full kitchen and bath remodel a year or two before you decided to sell. However, your taste and selections might not necessarily help the sell of your home. Yes, it looks good, it’s what you wanted, but it might not add any big value back to the house on pricing. On the other hand, it might not hurt it. Having new stuff could help the sell. If you have a three bedroom house with two bath rooms, you will normally want at least one bath tub in one of the bathrooms if you ever want to sell. If you spent $10,000 on Bathroom remodels, you normally won’t get all this back. Some might help. When it comes to the kitchen, basic things like re-staining or painting cabinets could help. But if you replace all the cabinets, you will not get all your money back. Counter tops can also help depending on what you do. If you go with a high-end material, you might only get a little credit back. Keep it simple if you are planning on selling. If you are living in your home and don’t know if you will move, then do what you like. Just remember, these remodels are what you like.
Landscaping while you live there is awesome, but to spend a lot to landscape to sell doesn’t always get your money back. It most definitely adds to curb appeal in the front yard. It can add value to your home with the sprinkler system.
Think of the scenario when you buy a new car. That window sticker and what you pay is a high price, but once you drive it off the lot, those prices come way down almost immediately. Talk to a builder or REALTOR® if you are planning on selling and ask them what would help on getting a return value of the remodel.
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