Remodeling a home to sell can be a great investment though there is a fine balance to find when deciding how much to invest – How High-End Should We Go When Remodeling
First of all, you need to know where your house sits on the local market, whether it’s valued lower or higher in the market. If homes are selling for more than yours is currently valued at likely you have some margin to invest in significant upgrades. In this case, it’s time to look for options that may bring your home up to the level of those more expensive homes.
Differing, a home already valued near the highest price buyers are willing to pay limits the potential profit of remodeling. Putting your efforts into inexpensive repairs and updates focused on appeal, any of the small things that make your home stand out, will be more profitable.
The convergence of the contemporary home upgrade and local standard of quality
To maximize your remodel you need to know what home buyers are expecting in your area. Take a look at houses similar to yours. What you’re looking for is the standard of quality buyers want, what are they willing to pay for and contrary to what they are not willing to pay for.
Focus on homes that are selling. Give attention to the main entrance, floors materials, wall texture, lighting and bathroom, and kitchen components. Are they using standard materials or high-end ceramic, stone and exotic woods? In the bathroom are you looking at vinyl flooring and economic furnishings or ceramic with luxury furnishing and touchscreen mirror? Are the kitchen components your average cabinetry, counters and appliances or hardwood, granite and professional-grade?
Gathering this information gives invaluable context to the question of how “high end” to go with your remodel. Knowing where your home sits in the local market helps guard from overinvesting, you don’t want to spend on things that don’t return the value. Having an idea of the standard of qualified buyers are expecting gives you the benchmark for your project overall. A remodel with a quality that, while reflecting the standard of the area, sets the bar profitably higher.
As you begin planning, consult your Realtor and contractor as they are excellent resources; giving attention to their suggestions will pay off. Your realtor knows the local market and what people are looking for. Your contractor is familiar with the latest building materials, components and trends that you may want to use. Thanks for Reading: How High-End Should We Go When Remodeling a Home to Sell?