As the housing market shows signs of improvement, the remodeling industry is also showing gains with more homeowners choosing to hire a contractor over DIY jobs, according to a RemodelorMove.com Spring 2013 report.
For homeowners who have finally made a decision to sell their home, you may not be thinking about remodeling. Remodeling, however, isn't something to only consider if you are staying in your home. Remodeling projects go hand in hand with a home staging strategy to boost a home's selling price and get it sold quickly. If you are a homeowner that wants to remodel and decorate for your own enjoyment today, but also have an eye on selling your home in a few years, you should be making design choices with future staging needs in mind.
Buyer's today have high expectations and are looking for move-in condition homes. With 92% of buyers using the Internet to conduct their initial home search, they have already judged your home before they ever decide to walk through the door. Repurposing and decluttering may not be enough for some older homes that may need more updates, particularly in key rooms such as kitchens and bathrooms.
Staging coupled with remodeling are important considerations as part of the overall strategy and investment into getting top dollar for your home -- and always less than an initial price reduction if your home sits on the market too long. Below are some staging and remodeling tips to consider before you even THINK of selling your home.
Kitchens & Baths
Updating your outdated kitchen or bath is one of the best investments you can make if you are planning to sell your home now or in the future. According to HGTV, home buyers aren't looking at your home -- they're looking at your kitchen. While some kitchens may benefit from upgrading the counter top from a laminate to granite, adding new stainless steel appliances or replacing the faucet, others may require cabinet updates to really "wow" buyers. We gave this kitchen pictured a new custom look while utilizing the existing blueprint and maximizing the budget. For homeowners that really want to remodel but don't want to invest in new cabinetry, having the cabinets professionally painted, as shown below, can be a great option. We also added new hardware, modern pendant lighting and upgraded to granite counter tops. Details including adding crown molding to the cabinets as well as beadboard and furniture legs to the island finish off the kitchen and achieve a custom look.
If your home has hardwood floors covered by wall to wall carpeting, it's time to expose them for buyers to see. Hardwoods will enhance the look of any room. If you don't already have hardwoods it's an investment worth considering. In a nationwide survey, the National Wood Flooring Association found that 90% of real estate agents said homes with wood floors bring a higher price. The same survey also showed that real estate agents saw homes with wood floors selling faster than those with other types of flooring. If hard wood floors are out of your budget, consider updating outdated carpeting. This will go a long way with buyers. Pictured above is a great example of our client's dining room transformed by hardwood floors.
Today's buyers want clean, modern features. Upgrading fixtures and finishes from faucets to lighting to counter tops can give a room a whole new look. Replacing door handles or cabinet hardware to cleaning the grout in the bathroom allows buyers to envision themselves in the space without tallying a list of changes they'll want to make. One of our inexpensive bathroom renovations pictured increased the home's sale price by $20,000.
Make Necessary Repairs & Finish Unfinished Projects
Now is the time to fix anything around your home. If a closet door falls off the track or you have a leaky faucet, replace or repair it. If you started a home repair or remodeling project but have never gotten around to finishing it, you'll want to get it done before your home goes on the market. What you've learned to live with and may be a simple, inexpensive fix is intensified as a costly nuisance in a buyer's eyes.