Why Fix The House When You Can Sell It
So, you remodeled your house…you knew you wanted a bigger kitchen with room for two (2) refrigerators, more family space and another bedroom. But there are dreams and then there is reality. Why fis the house when you sell it? You both began wondering not only how much you could afford, but how much should be spent.
So you called a real estate agent and explained your plans, with hopes she could help you set a budget. HAHA! Not so fast! Unfortunately, the agent was able to tell you how much more they could sell the house for with her dream addition and budget. Not yours! Now, many homeowners mistakenly ask an agent with absolutely no experience in the work of remodeling a house. They do not know the cost vs. value ratio. And that is usually why a homeowner spends too much money on remodeling their home,
Very seldom does the homeowner realize the return at the retail sale and closing of the property. Even the most valuable remodeling projects don’t recoup the cost and expense of the remodeling project.
Don’t Fix It, Sell It
According to Remodeling magazine’s annual cost vs. value report. The project with the highest return on investment – installing a steel door – only recoups 97% of it;s cost. When remodeling your kitchen, sometimes less is more, when it comes to ROI. If you’re remodeling on a budget, don’t ask a real estate agent. Ask a real estate investor who has done many remodeling projects and can show you what to and what not to do. So I ask you again. Why fox the house when you can sell it?
Focus on a few key areas and replace dated appliances with more modern, stainless steel models, Replace aging counter tops with sturdier materials that you can afford. Replace cabinet hardware (but leave the boxes in place) and apply a fresh coat of paint or add a new back splash.
Be careful not to go to far with kitchen remodels. Unless you’re living in a high end, luxury home, you shouldn’t have high end, luxury appliances or personalized gadgets. They don’t matter to your targeted buyer, or add value to your home.
Kitchen or Bathroom Update
Second to the kitchen remodel is the modern bathroom which is on many buyers lists. The average cost of a bathroom remodel includes replacing a porcelain-on-steel tub,shower head, toilet, sink, vanity, as well as floor and wall tiles. But you don’t have to do all that to boost your home’s value. To get the biggest bang for your buck, keep the tub, toilet and sink and focus on replacing the vanity surface with solid material like granite, quartz or marble, installing better faucets and shower head. Maybe updating the tiles around the shower. These surface additions are more visible and reflect taste buyers will appreciate.
Why Fix the House When You Can Sell It?
So think about it. Why fix the house when you can sell it? Are these remodeling projects worth the money? Don’t ask a real estate agent to help you budget your remodel project. Ask a real estate investor who has done many remodeling projects and can help you not only where to find the best products and supplies, but will also tell you how to negotiate the purchase of the best products and supplies.
Cashforhousesrh, LLC. We are real estate investors, we buy and sell properties throughout the Dallas, Fort Worth area including Addision, Arlington, Carrollton, Cedar Hill, Cockrell Hill, Dallas County, Desoto, Duncanville, Farmers Branch, Garland, Glen Heights, Grand Prairie, Lancaster, Mesquite, Oak Cliff and Richardson, Texas. In any transaction, we represent ourselves and you represent yourself.