Selling Your Home
SHOULD I REMODEL FIRST?
Always remember and keep in mind that curb appeal is everything to a Buyer. When a Buyer drives up to a home, he is either thinking (1.) I want to see more of that home, or (2.) let’s keep on driving.
I want to sell my home in Jackson, Wyoming this year but I'm not sure whether to remodel the Kitchen and Bath Room?
Cost is one factor. A Kitchen remodel can cost $50,0000 or more. Will a $50,0000 investment help me sell my home and will I recoup the entire $50,000? The Master Bath can easily cost $20,000
Timing is another factor. A Kitchen remodel can take 3 months and a bath remodel can also take 2-3 months
Who are you remodeling for? If you’re wanting to sell the home, you’re not remodeling for yourself, but for the Buyer’s taste. If you miss the mark, you’ve wasted your money. In other words, you better know the average tastes of today’s buyers and forget your tastes.
If you’re not sure? If you’re not sure, it may be better to simply change out little things like all the drawer pulls or adding a faucet or new back splash, or simply repainting the walls.
The outside wood siding is pretty faded and it is peeling a little, but is it worth to repaint?
Timing is a factor. You can probably have your home stained or painted in a a month, but be sure it’s all complete before you put it on the market.
Where “curb appeal”. If you think re-staining or re-painting the exterior siding will enhance the appearance, it probably will be a good investment.
Who are we remodeling for? Just like the the Kitchen and Bath remodel, this new paint or stain color is not your taste or what you like but what the Buyers will like.
Should I add guttering while I’m painting? Look around your neighborhood at the other homes, how many have guttering. If 75% of the homes have guttering, it might be a good idea to add it. If 75% of the homes don’t have guttering, don’t add things needlessly.
Check out your front door. A new coat of paint on a front door can make the entire home stand out.
REMODELING: RETURN ON INVESTMENT
This chart of various types of remodeling projects was taken from Remodeling magazine, and illustrates that certain upgrades have a higher return than others.
Some remodels just aren’t worth it. A Bath Room addition, may cost $42,000 and will only increase the value of the home by roughly $23,700 or roof replacement may cost $$20,000 but the value added is only around $14,446.
My best advice is if you want to remodel or add onto your home, do it soon enough so you will get some enjoyment out of it before you decide to sell.
As far as remodeling or fixing up your home before you sell it, you can’t go wrong repainting walls. Interior curb appeal is just as important as exterior curb appeal. A nice light neutral color, in a matt or flat finish is always a winner.
Believe it or not, if you have older Kitchen or Bath cabinets, simply replacing the door and drawer pulls with a new bright finish can transform the look of the room. I’ve done it. Total cost for the hardware is roughly $150-250.