Library

• Are You Ready to Sell?
• Creating a Sell Sheet
• Different Types of Buyers
• Explaining Escrow
• How to Deal with Offers
• How to Find a Lawyer
• How to Make an Offer
• How to Secure Financing
• How to Take Photographs
• Is it Time to Lower Your Price?
• Is Now the Right Time to Sell?
• Negotiating Tips for Buyers
• Negotiating Tips for Sellers
• Qualifying the Best Buyers
• Setting the Purchase Price
• Should you Remodel?
• Should you use a Broker?
• Top 10 Mistakes Buyers Make
• Top 10 Mistakes Sellers Make
• Top 10 Things to Include on your Sell Sheet
• Top 10 Tips for Buyers
• Top 10 Tips for Sellers
• What Buyers Should Expect at Closing
• What Sellers Should Expect at Closing
• What to Consider Before You Buy
• Where to Place Your Sell Sheets

Should you Remodel?

As you prepare to sell your home, you’re probably considering which renovations will help to increase its value. Almost every home could use a little updating before it’s put on the market, but even the most popular upgrades – like adding a bathroom or upgrading the kitchen – yield only an 80% return, while finishing the basement or attic barely makes any difference at all. Going overboard wastes both time and money, but if you follow a few simple guidelines, you can make home renovation work for you.

In today’s competitive market, giving your home an extreme makeover may seem like a great way to attract buyers, but it rarely results in a substantial increase in your selling price. Most of the time, a few smart changes will make a bigger difference than one dramatic improvement – although you should always replace anything visibly broken or worn. However, instead of installing a Jacuzzi tub, update the bathroom fixtures, towel racks, and medicine cabinet. If your kitchen counters are avocado green, you’ll probably need to replace those, but don’t spring for new appliances if yours aren’t outdated.

Before you begin construction, walk through your neighborhood and see which features are most prevalent in the surrounding homes. If your community is filled with sprawling ranch homes, adding a second story will make your house stick out like a sore thumb. If you upgrade your home beyond neighborhood standards, you run the risk of making your home too expensive for buyers who are looking in your area.

It may be tempting to add your dream features when renovating, but any changes you make should be in keeping with the style of your home. You want the house to appeal to as many potential buyers as possible, so don’t change the function of any of the rooms. Bolted bookshelves may be a deterrent to the buyers who see your home office as a nursery.

Remember, you’re renovating to attract buyers, not to create the house you’ve always wanted. Keep your expectations in check, make only necessary improvements, and your efforts will pay off.