Remodeling to Sell?
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 that renovations will increase the value of your home, then some research might be in order. Studies suggest that most renovation projects do increase the price of a house; however, the increase is typically less than the cost of the project. The 2020 Cost vs. Value Report shows a homeowner will generally experience a return of 60% to 75% on the dollar at resale. Some of the more cost effective improvements are minor kitchen upgrades (recoups 74% of cost), garage door replacement (recoups 99%), and window replacements (recoups 75%). Keep in mind the cost recouped can be affected by the quality of finish and even the type of neighborhood and local conditions.
One of the biggest advantages remodeling has is the fact it increases the appeal of your home to buyers. A gleaming state of the art kitchen with granite countertops and bathrooms with tile and glass can sell a house more quickly. Given the nature of this market, buyers are definitely willing to pay more for an updated, move-in ready home. Feel free to contact me for more advice on prepping your home for sale! 603-526-4116; www.DonnaForest.com; Donna @DonnaForest.com