The Remodeling Dilemma: Should I remodel before Selling my home?

The remodeling dilemma… If you’re planning to sell your home, you may be thinking: Should I remodel before selling? What’s the best remodel to do? Will I make my money back? Find out the answers and more in this episode of Moving on with Ron!

 

We’re always asked: Should I remodel my home now? What’s the best remodel to do if I’m going to sell my home? And of course, if I remodel, am I going to make my money back? Those answers are not always cut and dry. A good rule of thumb is that if you’re in your forever home, if you plan on living in that home for more than five years, then go for it! Have some fun and remodel your home the way you want it. Then you’ll love it, you’ll get the most enjoyment from it, and you’ll use it. If you’re looking to sell your home in less than five years, then you’re going to want to be more strategic about this. You’re going to want to learn what buyers are saying yes to, what they’re saying no to, and what the market is doing locally. This way, you’re going to be able to spend that remodel money on projects that you should be able to love, but also that buyers will love too when you go to sell. To find that out, just give me a call and I or a member of my team will be happy to come out and meet with you and talk about your unique situation with you.

 

Now, for making money back or even more from a remodel, it’s not so easily determinable. Some remodels are just necessary- you need to do them just to make the home able to be sold. Other remodels, if they’re not made in line with what the market is accepting these days, can actually cost you even more money at resale. It’s important to know that the average home remodel only returns about 65% of the actual investment, assuming that the work was at retail prices by professionals. And remember, cleaning, painting, and home staging are the lowest-cost ways to return big money on home sales.

 

The remodeling 2019 Cost vs. Value report just came out. This reviews 22 projects, and they’ve surveyed contractors and real estate professionals nationwide to share typical-cost projects and their expected returns. You’ll be surprised to find out that the top two returns on investment are actually exterior (outside) projects. And they’ve also created a new category this year in roofing, that’s “seamless metal roofs,” which is something that we’re seeing a lot more of these days in the Merrimack Valley.

 

If you like that report, just email us at ClientCare@PrimePropertyTeam.com or just fill out the form below. And as always, if we can help you with any home sale needs, just give us a call at 978-494-0346.

 

Get your free copy of the 2019 Remodeling Cost Vs. Value Report now, just fill out this quick form below and you’ll receive a copy in your inbox!

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Moving On With Ron

Episode 1: What Does the Assessed Value of a Home Mean?
Episode 2: Does Finishing the Basement Add Value to My Home?
Episode 3: What are the Types of Home Valuations and Which One is Correct?
Episode 4: How to Successfully Buy and Sell a Home at the Same Time
Episode 5: 2019 Housing Market Outlook
Episode 6: Should I Remodel My Home Before Selling?

Ron's Real Estate Minute

Episode 1: How Much Will it Cost To Sell My Home?
Episode 2: How Do I Get My Home Ready To Sell?
Episode 3: 4 Questions Everyone Asks About Home Inspections
Episode 4: What are Sellers Looking for in the Offers They Receive This Spring?
Episode 5: What are Some Tips for Buyers Going to Open Houses?
Episode 6: What is a Psychologically Impacted Property?
Episode 7: What is the Difference Between a Deposit and a Down Payment?
Episode 8: How Do I Deal With a Subject to Suitable Housing Condition?
Episode 9: What Defines a Legal Bedroom?
Episode 10: What Does it Mean to Launch a Listing?
Episode 11: What is an As-Is Home Sale?
Episode 12: What is a Betterment and What Does it Mean in a Home Sale?