If you are looking to change your living situation, there are pros and cons to whether or not you should remodel before you move.
If you are considering selling your house, you have a difficult decision to make: Should you leave it alone and sell it as is, or remodel and try to increase the value of the property in the hopes of raising your asking price? It’s a difficult decision and there’s no easy answer. It really depends on a few key elements.
How Hot is Your Local Real Estate Market?
The old adage “location, location, location” rings true even today, and the location of your house will play a huge role in whether or not you should remodel.
If you are considering selling your house but you’re wrestling with whether or not to first invest in a potentially costly remodel, check the other listings in your neighborhood, and go back a few months to see how much above the asking price similar structures are being sold for. Talk to a realtor and see how quickly houses are going. If you are in a competitive market where people are competing for houses, then you can probably go easy on major remodels. If there are several houses in the area that have yet to sell, you may need to find a way to make yours stand out.
A Little Goes a Long Way
While you may not need to do any major remodels to make your home attractive to potential buyers, there some smaller things you can do that could have a huge impact.
Your living room, for instance, might have a carpet that has seen a lot of wear in its time. Fully replacing it might be cost prohibitive, but if there are hardwood floors underneath, it might be worth pulling the carpets and refinishing the wood. If the carpet isn’t on hardwoods, you could also consider something like laminate wood flooring. That is a cost effective way to give your home the look of hardwood floors, and it might make a big difference.
You may also want to consider painting a few of the rooms. Many people like darker walls in their homes, but brighter colors make a room look bigger. Yellows, blues, and greens work just as well to make the most out of the natural light, but if you are selling, it might be a little cheaper and more appealing to a larger group to stick to a neutral color like white or gray.
A house’s front door can also make a huge amount of difference. The front door is the focal point of the exterior, and in many ways, it is the first impression a potential buyer will receive. If you are considering replacing your door to make it easier to sell, a simple wood door with a window should help. You may want to paint it, although that might be unnecessary – it just depends on how it looks.
There are several little things you can do that will have a big impact. When you are considering selling, you may want to speak to a contractor. Have them come out and tour your house, then let them know your budget. They can typically offer a lot of improvements that will be relatively quick and easy work for them but could have a huge impact in terms of the property’s value.
Little Fixes Can Make Big Differences
It might seem like an obvious bit of advice, but make sure to fix any minor issues before you attempt to sell your house.
When potential buyers tour a house for the first time, they are looking at it with an aesthetical eye. The deep inspection will come later, but the first walkthrough is typically just to see how comfortable they feel. They may already be thinking of how they can make changes, but things like chipped paint or peeling wallpaper can negatively impact the first impression, even if the potential buyer is planning their own remodel. A loose step or a cracked door frame may be minor to people that live there, but little things add up.
Before you put your house on the market, walk through and look for flaws. You may be used to that tiny hole in the wall where a nail used to be, but a potential buyer may see it in a much more negative light. A loose doorknob probably barely registers when you use it, but buyers will wonder if it is part of a bigger problem.
While you may be able to fix most of these minor issues on your own, it always helps to have another set of eyes to look things over. Bring in friends and family and ask them to look your house over with a critical eye. After that, you may want to have a contractor do the same.
And while you’re at it, clean and organize your house. Get rid of any clutter you don’t need and store any additional furniture that feels cramped. Since you’ll be moving soon, putting additional clothes, furniture, and other non-vital belongings into a storage unit could even make your move a little easier as well. You may also want to pack up a lot of the personal effects. Buyers want to imagine that they are buying their new house, not that that are taking someone else’s.
The Out is as Important as the In
When selling a house, most people focus the majority of their efforts on the inside, making sure things look good and appeal to buyers, but the outside is just as important.
You want your exterior to look kept and maintained. Pull any weeds and make sure the lawn looks good. If you are growing flowers, make sure they are properly arranged and don’t hesitate to pull and trim those that are unruly. You may even want to purchase vegetation that is already grown and then replant it in your yard – just make sure it looks symmetrical and organized.
If there are any outstanding issues – a broken fence or an overgrown tree – now is the time to take care of them. Even if the interior of a house is spotless, if the exterior is unkempt it adds an air of neglect to the property. It also tells the potential buyer that when they move in, they will have a lot of work to do. That’s probably going to be the case regardless, but people buying houses are typically more than happy to fool themselves into thinking that they don’t have much to do to get things livable.
If you are having trouble selling your house, you may even want to get a little more extreme and paint your exterior. If it is chipping or the color is fading you should do this anyway, but changing the look of your house voluntarily should be a last resort, assuming the color is fairly standard (bright purple, for instance, is going to be a little tougher to sell than white).
If You Want to Go Big…
While there are plenty of things that can help you sell your house, if you want to get the absolute most value out of your property, you may want to speak to a contractor and see what they can do that is within your budget.
Two of the biggest things you can do to increase the value of your house (barring major work, like an extension or an ADU) are a full kitchen remodel and converting an unfinished basement or attic. Obviously, these are only going to be applicable to people with an outdated kitchen and a basement/attic that can be converted, but if that is an option you may want to take it.
Remodeling the kitchen is always one of the top goals most homeowners have. We all spend a fair amount of time in our kitchens, so making it as attractive – and functional – as possible is important. Plus, the better the equipment available, the more cooking options you have. New buyers love that.
If you have an unfinished basement or an attic that could be converted, you aren’t just increasing the attractiveness of your home, you are adding a full new room. That potentially changes the entire makeup of your house – it could add another bedroom, offer a second family room, make space for an exercise room, or a dozen other things that make your property listing stand out. This will cost more than most quick fixes, but it could significantly raise the value of your property.
Can You Afford It?
While there are some basic things all potential home-sellers should do (fix broken things and clean, for example), how much you want to invest depends on both the market and your personal goals. Ultimately, it is a simple equation: Will the costs of the remodel be less than the value they add to your house?
If you are considering selling, Fleschner Construction can give you several options. Schedule a consultation now and tell them exactly what your concerns are. They can work within your budget to help you get the most out of your sale.