Thinking of remodeling a room or portion of your home prior to selling? Improving certain rooms may help increase the value of your home, while remodeling others adds no value and you could end up with a net loss from the sale due to the cost of the improvements. So, which rooms should you consider?
First, let's make sure to distinguish between improvements that add value and those that bring a home up to a basic level of maintenance. Fixing a leaky roof, or replacing a broken sink will most likely not return anything on the investment, but may ultimately make your home more likely to sell.
Generally, the best way to add value with a remodel is to focus on the rooms that have the best return on investment, like kitchens, baths, or additional living areas. If you prefer to focus on the outside, new siding, replacement windows, or the addition of a deck not only give your home more curb appeal, but nearly pay for themselves when it comes time to sell.
Projects that make your home seem brighter and cleaner are less of an investment and can also help with the sale. Show that your house has been properly maintained and isn't run down.
Stay away from costly projects that are not likely to add any perceived value, such as an office or game room. For more insight into how much a project is likely to cost, compared to how much you can expect to recoup from the sale, go to http://www.remodeling.hw.net/cost-vs-value/2015/.
Selling your home can be a wild roller coaster ride full of crazy ups and downs. Your goal is to reach the highest peak possible at the moment you want to sell. If you're wondering about whether a renovation will help you reach that peak, or leave you flat, talk to one of our Realtors at Coldwell Banker Rizzo Mattson. Since we see so many houses, we have firsthand knowledge of what people in your area are looking for in a house. Call us today, and we'll help you determine which home improvements will give you the maximum return on investment and help you achieve your goals.