Should you remodel before selling?
Remodeling Magazine’s 2018 Cost vs. Value Report provides some valuable advice when weighing the decision to move forward with or abandon your upgrade or remodel project. According to the report, garage door replacements recoup costs at a much higher return than the 20 other remodeling projects that the study compared. Garage door replacements have a return of almost 100%. Popular projects like replacing front doors, windows and siding, along with bathroom additions, all ranked significantly high and returned more than 70% of upfront costs.
Spending a fortune on a remodeling project doesn’t automatically mean you are going to get a sizeable return. Small repairs and updates such as lighting, replacing outdated appliances and fixtures, or replacing laminate countertops can go a long way. These small items make recouping costs a lot easier than a full-scale renovation and will be easier on your wallet. The Cost vs. Value Report found that less expensive projects generally yield a higher return on investment while more expensive projects tend to just give you more gray hair!
First impressions are lasting impressions and curb appeal goes a long way when you’re trying to sell your house. Replace faded house numbers. Add pretty, bright colored flowers balanced with plush shrubs to catch the eye of a potential buyer. Trimmed trees allow more natural light inside your home. Don’t neglect the outside trim and gutters. Something as simple as a fresh coat of paint can make your house look inviting and new.
Of course, staging can increase a listing price by tens of thousands of dollars. And for a vacant property with no furniture, it can be a game changer! At the very least, stage the main living areas – living room, dining room, kitchen, master bath and bedroom. It is absolutely worth the investment. The stats speak for themselves.