The premise of he show is that homeowners are faced with a decision … keep their current house and remodel it to fit their changed needs, or list it, sell it and move to another house that is already set up for them. The show pits Hilary, an interior designer who wants to remodel the home to a point where the owners can’t resist but to stay in it, against David, a Real Estate Agent who wants simply to sell them another home that fits their needs better than their remodeled home ever could.
The decision is not an easy one for the Owners. Many times the current house for a potential seller is comfortable and familiar. Sometimes the school district is a factor, the owners needing to keep their kids in the same schools due to sports, academics, etc. BUT, the square footage can be limited for their growing family or maybe the location has become less ideal.
Cost of remodeling is always the main consideration because if it costs too much to remodel, it would make more sense to just move. Plus, they always have to fit it into a budget. Even when they consider staying, they should prudently consider the next buyers someday when they invest money into it. Officially, here are a few remodel projects that can be very cost effective for you if you want to sell. According to the National Association of Realtors®, these are the average returns you can expect to realize from each of the projects.
1. Entry door replacement (101.8%)
2. Manufactured stone veneer (92.2%)
3. Garage door replacement—mid-range (88.5%)
4. Siding replacement, fiber cement (84.3%)
5. Garage door replacement—upscale (82.5%)
This is from a generic point of view. Your particular house and circumstances are more important to consider. For example, if you have a hole in your bathroom floor, that would be a wise thing to fix. If you have a leaky roof . . . ditto. If you have very outdated decor or appliances, updating those can make a potential purchaser pay much more or even offer at all. Usually, ANYONE considering selling should consider a good cleaning, probably paint to update or freshen things up and even some minor landscaping can be an easy do-it-yourself project that makes a good first impression. Overall, remember that you can’t expect to get your full investment back from many projects but you will increase your chance of getting the most money for your house when you do sell.
If you’re considering selling, put yourself in a buyer’s shoes. To choose your house, they have to decide it is the best deal for them. That means your home should be competitively priced vs. similar homes in the area, and it needs to fit that particular buyer’s needs and wants as closely as possible.
If you're planning to sell your home soon, give us a call. We can advise you on what you should do to get your home ready to sell. That's what we do . . . we sell homes every day for people just like you.
