John Van Schoick, Realtor
Pocket More by Remodeling Before Selling Your Home
A home in good condition and priced right is going to sell in todays market, likely in a bidding war. So why not make the most of it? Investing in solid return improvements will attract more buyers, increasing the pressure for a higher price.
Not all remodeling is created equal. Here are a few that will get you the most bang for the buck according to the National Association Of Realtors.
#1 NEW ROOF - One of the first things new buys will look at, they do not want to move into a new home and have to replace the roof right away.
The Cost $7,500 / The Return 107% $8,000
#2 REFINISH FLOORING or NEW HARDWOOD FLOOR - All you see on TV is Hardwood Floors are a must. They are timeless classics. This is a No-Brainer.
The Cost $2,600 / The Return 100% $2,600 Refinish
The Cost $4,700 / The Return 106% $5,000 New
#3 NEW GARAGE DOOR - A new garage door replacement provides a big boost to your home's curb appeal at a modest cost.
The Cost $2,100 / The Return 95% $2,000
#4 NEW INSULATION - Something that is tucked out of sight, but todays educated buyer will be asking question about his heating bills.
The Cost $2,400 / The Return 83% $2,000
#5 NEW SIDING - In any color! And never paint again. Those are two of the three benefits of vinyl siding. The third, of course, is your home’s value.
The Cost $15,000 / The Return 63% $10,000
#6 HVAC REPLACEMENT - Air quality is top of mind these days, so replacing an HVAC system is a timely project — plus it cuts those pesky utility costs. Of the people surveyed in the NAR report, almost half said the most important benefit of HVAC replacement was better functionality and livability.
The Cost $8,200 / The Return 85% $7,000
Quality matters. In a survey from the National Association of Home Builders, “quality” was the one of the most important traits home buyers focused on when house hunting.
Perceptions of quality can vary, but the majority of both first-time buyers and repeat buyers said they’d rather have a smaller home with high-quality products and services than a bigger home with fewer amenities.