Remodel to Sell?
The unit on the left sold for $289,000 in 2012 – The same unit sold in 2019 for $435,000 with multiple offers. Total cost of the remodel was $30,000.
Remodeling your home in a way that makes it more functional and enjoyable for the next couple of decades is usually worth any type of manageable expense and effort. But how about if you are planning to sell your home sooner rather than later? Few large-scale remodeling projects add enough equity value to your home to pay to realize a profit or break even with an impending sale. In a primary home, residential market, you are better off accepting lower offers than investing in major remodels. However, in a resort market like Lake Tahoe, remodeled properties sell for a higher price with fewer days on market. Vacation home buyers don’t want to remodel, they want to bring their belongings and focus on playing in the mountains.
Let us help you
We have helped a handful of absentee owners remodel prior to selling their homes in order to sell faster and at a higher price. We’ve managed projects, picked out materials and increased interest prior to listing. If you’re not ready to sell yet but are looking to remodel your home, give us a ring. We are happy to walk through your home with you and advise you on what projects will give you the most equity in the long run so you NEVER spend more on remodels than you can recoup.
Simple things you can do to increase your HOME value instantly
Prioritize kitchen and bathroom remodels
Concentrate on counter tops
Refresh existing cabinets with stain/paint
Upgrading fixtures and hardware pays off
Stress appearance over function
New paint works wonders
Consider market tastes not yours
Neutral colors always win
Use subcontractors and take on the role of owner/contractor to save money