If you have been thinking about selling your home, you might be considering a remodeling project to help you get the most out of that sale. However, it can be difficult to balance the cost of remodeling against the return that you'll see from selling the home afterward. You don't want to spend tens of thousands of dollars on a remodeling project only to see a return of an additional five or six thousand on the sale price. Here are some tips to plan remodeling projects that make the most of your investment against the return.
Focus Only On What Is Needed
If you really want to be sure that you're putting your remodeling money to good use, focus only on what's absolutely needed to help your home sell. Consider the areas of the house that are usually the most highly criticized, such as the bathroom and the kitchen.
A dated bathroom or kitchen, or one that has obvious cosmetic issues, will make it harder for you to sell your home. Look at those rooms from the perspective of a potential buyer and think about what you would have issues with. For example, if the flooring is damaged or the wallpaper is peeling, these are things you should definitely replace. Focus only on those upgrades or repairs to make the most of your investment.
Prioritize Form Over Function
When you remodel a home with the intent to sell it, your priority should be appearance over functionality. Sure, it's great to add all-new features like a pot-filling fixture over the stove, but those are major upgrades that can be costly.
Instead, look at the cosmetic needs and make remodeling choices that improve the overall appearance of each room. When the home looks new, fresh, and attractive, it's far more likely to sell, and to sell at a higher price, than it might otherwise.
Consider upgrades such as countertop replacement, repainting, flooring replacement, and similar work. These tasks will provide you with cosmetic improvements with minimal investment.
Opt For Inexpensive Upgrades
You can greatly improve the look of your kitchen or bathroom with some inexpensive replacements. Upgrade the fixtures, such as the faucets, cabinet or drawer pulls, and similar items. Refinish your cabinets instead of replacing them for a cost-effective cosmetic improvement.
Talk with your remodeling contractor today about other upgrades you can make that won't break your budget but may help boost your home's future sale price. He or she can help you explore your options and find the right investments.