Before you spend thousands of dollars on a home remodeling project you’ve been dreaming about, make sure that you check on the items that will bring you the best return on your investment.
A recent article in Remodeling magazine has a few tips for Northern Virginia home owners to consider.
Roofs and New Siding: Not Very Glamorous but Necessary
Remodeling Magazine reports that you’re more likely to recoup your investment on such features as your roof or your siding than you are on bathroom or kitchen remodels.
In fact, siding replacement recouped 92.8 percent of its investment while roof replacements recouped 90 percent or more at resale
Home buyers care about the overall structure of the home. In many instances the cosmetics can often be handled later but a leaky roof needs to be fixed now.
A recently replaced roof or new siding tells buyers that their maintenance costs are going to be low to non-existent for the first few years.
Kitchens: A Sound Investment or Not?
The consensus is unanimous: Kitchen remodels are an excellent way to spend your home renovation dollars – but only if you don’t spend too much out the gate
Features to focus on in the kitchen include wood cabinets, good quality matching appliances, stone floors and stone counter tops. Unless your Northern Virginia home is at the high end of the market don’t go overboard. A $15,000 investment will go a long way. When you spend $50,000 or more chances are you aren’t going to recoup as much of your dollars when you sell.
How About Bathrooms?
Bathrooms are also a fantastic place to invest your home remodeling dollars. Often, home owners are pleasantly surprised to discover that they get a 100 percent plus return on their investment.
New vanities, plumbing fixtures and tile go a long way. Get rid of the builder grade mirror and linoleum floor. If you have the option to add two sinks or double vanities do so. Those “marriage saving sinks” are always popular with Northern Virginia buyers.
If you only have one bathroom in your home, spend your money on adding a second bathroom instead of remodeling the only bathroom you have.
Don’t Forget To Consider Your Home’s Curb Appeal!
People often focus their remodeling dollars on the inside of the home but the exterior is just as important – if not more so.
After all, a potential home buyer will form an opinion about your home before they ever step foot inside.
Another way to make sure your home has adequate curb appeal is by adding architectural features to make your home more inviting. Check your landscaping. If you have large trees have them trimmed. Make sure you’ve added fresh mulch (not to much) and seasonal landscaping to make your home stand out.
Give Buyers Extra Room to Grow
Do you have an unfinished basement? Now is the time to invest in finishing it off. You don’t have to go crazy. Drywall, recessed lighting and carpet make a basement feel like a place a new owner wants to spend time. Is your basement plumbed for another bathroom? Add it now.
In fact, for every 1,000 square feet added to a home, your sales price will increase by more than 30 percent, according a 2005 National Association of Realtors study.
One caveat to this rule: Don’t add so much extra space that your home becomes the most expensive home in the neighborhood.
Just a Few More General Notes About Home Remodels
- The Value of Your Home
- The Value of the Homes in Your Neighborhood
- The Housing Market You’re Located In
- How Soon You Sell Your Home After the Home Improvement Project
- The Quality of the Home Improvement Project
If you are thinking about selling your Northern VA home this fall or winter give Cindy Jones and Integrity Real Estate Group a call at 703-346-2213. We’ll help you decide what you should do before you put your home on the market.