Not All Home Remodeling Improves the Value of Your Home
For those who are considering remodeling a home that will soon be put on sale, there is the important question of whether the money you invest will be reflected in the value of the home itself. If there is an obvious remodeling situation that is needed to repair damage to the home, that is one issue. However, if the main focus of the remodeling effort is to improve the overall sale value, you may want to consider all the options first before making the decision.
A Remodel Does Not Necessarily Improve the Value of Your Home
Just because you have added a new room, put in a new deck, or revamped your heating or air conditioning system does not mean that you will see that investment added to the price of your home. Home values are set by factors that include location, size, prosperity, and criminal activity that are in your neighborhood. These are factors that for the most part are outside your control.
The smart move is to focus your remodeling effort on what really sells the home or at least addresses the concerns that potential buyers may have. For example, adding a new deck is not going to do much if the home is perceived to be in a dangerous neighborhood. However, adding a security system would be far more beneficial.
What You Value Others Might Not
For every person that values a new deck or pool, there is someone else who sees them as potential trouble spots. The maintenance and care of a pool or deck is something that many people would rather not deal with if they could help it. So, instead of adding something that you might want, you should instead look at what might be universally appealing instead.
Focus your efforts on the things that you would look for when purchasing a home. Remember that most people see a home as a blank slate that they can add their own ideas. This is very important to keep in mind when looking over your home for a remodeling job.
Kitchen & Bathroom
If there are two areas of the home that are best suited to be remodeled, it is the kitchen and bathroom. Both of these rooms are usually the first place that potential buyers go when looking over the property, in particular the kitchen. If your kitchen or bathrooms are old, in need of repair, or even look dingy and dull a remodeling effort can be just the ticket to spruce them up.
Furthermore, you may not have to empty your bank account as many remodeling jobs are fairly inexpensive. Refinishing the tub for example can make it look just like new for a fraction of the cost compared to replacing it or installing a shower stall. Updating your appliances and repainting the kitchen also has a powerful impact. Here, you will need the help of a real estate agent who can offer sound advice about what buyers look for in homes where a remodeling effort can help.