According to a new study by the National Association of Realtors (NAR) 35% of homeowners would rather move than remodel their current home.
Although remodeling a home can be overwhelming, trying to sell without any upgrades will result in fewer showings and lower offers.
The Impact of Remodeling Projects
Most remodeling projects do not yield a good return on investment (ROI). To find out which projects do, read the 2019 Remodeling Impact Report by NAR. It reveals the highest return on investment projects as well as the top Joy Score projects.
The infographic below shows a summary of their findings. Homeowners get the most joy out of kitchen and closet remodels. The best ROI is gained by installing new roofs and hardwood floors.
That’s according to the report. Continue reading for my recommendations …
High Impact Remodels with Good ROI
Based on my personal experience working with dozens of buyers every year I recommend the following upgrades in this order:
- Interior Painting: Gray walls, white trims and white doors are the latest craze and will attract more buyers and offers to your listing.
- Hardwood Floors: I agree with the findings of the study. Hardwood beats carpet for most of the house.
- Kitchen Remodels: Every buyer wants a large, modern kitchen. Oak cabinets are out. Granite counters and new stainless appliances are a must.
- Bathrooms: Take out the carpet (if you still have one). It does not belong in a bathroom. Instead, use tiled floors and showers and install a modern vanity.
These are highly visible upgrades. You can accomplish many of these projects without breaking the bank.
Keep in mind that buyers are visual. They buy on emotion.
Projects to Avoid
When you sell your house avoid expensive projects that are not visible to the buyer. I am talking about installing …
- a new furnace
- new windows
- new roof
- better insulation
Only do these projects if the components are no longer functional or a safety concern.
I have worked with sellers who invested more than $100,000 in items the buyer did not “see”. Their investment had little impact on the sales price and yielded almost no return.
Call or text me TODAY at (614) 975-9650 for a customized list of high impact upgrades before you list your home.
Susanne Novak has been a Realtor since 2007. She is the broker and owner of RE/MAX 24/7 in the Dublin Historic District. Susanne typically helps 50-60 families each year with their real estate needs. She's your trusted advisor when you search for your dream home, and a skilled negotiator when she lists your property to get top dollar when you sell.