Can Home Remodeling Improve The Value Of Your House When Selling It?
Home Remodeling: Can It Add Some Value & Increase The Selling Price?
Remodeling your home can be an excellent idea to give it a makeover or gain more space. However, can home remodeling increase the selling price? Sooner or later, you may need to sell the house, and you want to make sure of selling it for a good price.
Not all home improvements are created in the same way, and that’s why some of them can add value and others don’t. To help you out with this information, a Maricopa Realtor tells you how to tell the difference.
These Are The Remodeling Projects With The Highest Value
Some home improvement projects add more resale value than others, and these usually are
Many homebuyers look for up-to-date conveniences and styles in the kitchen so that they can simplify cooking, and at the same time, enjoy a nice environment. In older homes, this is almost mandatory because it always adds value.
Following the kitchen improvements, there are bathroom remodels. Modernizing older appearances in this place usually adds resale value.
You may already know that a house makes a first impression quickly, so remodeling its outdoor appearance is a great idea to add value. Be sure of including landscaping and sidings, especially in the front yard.
Windows & Roof Projects:
These appliances are usually expensive to replace, and homebuyers expect them to be in excellent condition. Sadly, it means that replacing them won’t increase home value, but not replacing them could decrease that value for sure.
Remodeling Projects That Can Negatively Affect The Home Value
Not many projects can negatively affect the resale value, but be aware of personal choices, and consult with a Maricopa Real Estate agent if you have doubts.
The more personal your choices are regarding the home remodeling, the less like they are to increase the resale value.
Take for example a home theater room. It might be your dream, but it won’t be suitable for a young family with a newborn child, especially if they’re looking for an extra bedroom. These types of buyers don’t pay extra costs for things like your home theater studio, and they might even decline the offer because of that.
This doesn’t mean you cannot do the project, only that it won’t necessarily add value.
Here are other examples:
Luxury Upgrade Projects: No one likes to see the cheapest renovations in a home, but the highest-quality upgrades are not necessarily the best option either. Marble floors may look amazing in the bathroom, but don’t assume homebuyers will pay proportionately for these luxurious improvements.
Spaces That Don’t Work With The Floor Plan: Before converting the back patio to another type of room, be sure of analyzing the result if you want to sell the house. You can always contact a Maricopa Real Estate agent to get better advice. Remember that prospective buyers may not receive these changes well.
Garage Conversions for Bigger Space: These conversions may seem like a great idea to have more space at home, but remember that many buyers like having garages too. Converting this space won’t increase your home value.
Swimming Pools: This is an eternal debate because it is the ultimate luxury for many people. But, when it comes to selling, it may be a limitation. For example, many parents consider swimming pools a danger for their small kids.
Other Factors That Can Affect Your Home Value
Even if you do the right home remodeling projects, you may not have a high return on your investment. Consider the following factors before deciding if the project will add value:
The Changes Should Fit With The Neighborhood. Be sure of doing home improvements that go well with your neighborhood. For example, if you live in a neighborhood of two-bedroom houses and you decide to add an extra story to have more rooms, you may not see a high return.
Your Changes Should Fit the Rest of the House. One of the first tips a Maricopa Real Estate agent will give you is to make sure that the project is in sync with the rest of the house. If your house was updated 20 years ago, and you’re focusing on changing just one room, the entire house will look shabbier in comparison to the upgraded room.
Stay in the Same Price Range for Similar Houses. You shouldn’t expect a high recovery from improvements to a modestly priced home as you would from a high-end house. For example, spending $50,00 remodeling a bathroom in a home that costs $130,000 won’t have the same return as doing it in a $500,000 home.
Contact a Maricopa Real Estate Agent For More Information!
Whether you’re looking to sell, buy or know the real value of your home, consult the best agents in the business at The Maricopa Real Estate Company. We have experienced real estate agents ready to help you find the home you’ve been dreaming of, or sell your house for the best price. Contact us today!
The Maricopa Real Estate Company
21300 N John Wayne Pkwy Suite 101
Maricopa, AZ 85139