Should You Remodel to Sell Your Home?
Not all remodeling projects deliver the same bang for the buck when it comes to resale. If you are planning to sell soon and think renovations will increase the value of your home, then some research might be in order. While most renovation projects do increase the price of a house, the increase is almost always less than the cost of the project. The 2017 Cost vs Value Report points out of the 29 projects they tracked, the payback was an average of 64 cents to the dollar. Curb appeal projects such as changes to doors, windows, & siding, generated higher returns than interior projects. Cost and value vary dramatically depending on where you live. The hotter the market, the bigger the payback. In New England, the project with the highest return was adding attic insulation where 86% of the cost is recouped. The lowest return is a bathroom addition at 47%. The biggest advantage remodeling has is it increases the appeal of your home to buyers. A gleaming state of the art kitchen will sell a house more quickly than a home with an outdated kitchen and old appliances. Contact me if you’d like more advice on how to cost effectively prepare your house to sell. Donna Forest 603-526-4116; www.DonnaForest.com; Donna@DonnaForest.com