Where Will a Remodel Bring You the Most Money?
Thinking about remodeling your house? There are some things you should know first.
It’s a seller’s market pretty much all over Arizona right now. Many houses out there are selling quicker than usual. We’re talking more like days instead of months.
Even so, buyers out there are still looking for certain characteristics in a home. It’s one of the biggest decisions many people make and with that in mind, some people want to find that something special in a home that gives them the feeling that it’s “the one”.
Do you have that thing in your home? If not and you want to do something to give it a makeover, there are a three specific areas you can focus on that will give you a new feel but more importantly will give you a return on your investment.
It’s easy to see why this one is important. The kitchen is often considered the hub of the home. Whether in everyday life or during a gathering, the kitchen is the focus.
It’s kind of a given that if it’s not up to date, it can change a buyer’s mind. Whether you are thinking of selling tomorrow or possibly in a year, a remodel in the kitchen is a sure-fire way to see a return on your investment.
You use it daily so you will get use out of your brand new digs and any potential buyers will still see the appeal.
There are a few musts in a kitchen reno for resale purposes.
If you’re remodeling your cabinets, consider some new hardware or under cabinet lighting. The functionality behind that and sufficient cabinet storage will give you the return on your money spent.
Similarly, if you want new countertops, you could get a stone surface like granite but can save money with a grade 2 instead of the top of the line grade 5.
If you want to be trendy, consider a subway tile backsplash. It’s definitely not anything new but it’s a timeless look that appeals to many different buyers without breaking the bank. And don’t forget how easily something small like new hardware on the cabinetry can give a fresh look.
A two tone look like or backsplash focal point can really add character and make it feel like home.
First, let’s establish that your goal with the bathroom will be different whether you’re remodeling the master bath or the hall bath.
In the hall bath, you will want to focus on functionality and storage. It’s hard to know exactly what your future buyers will need out of the space so finding a balance between function and style will be your best bet. Something like this is beautiful!
In the master bath, its often more about convenience. People tend towards walk in or steam showers compared to tubs and appealing duel vanities. The master is more about the wow factor than the hall bath.
Side note: If you’re going to do any sort of major remodel, subway tiles are great for the bathroom too.
Honestly, there are so many possibilities when it comes to remodeling the backyard. It will all depend on what you want and what you already have. There are certain things that really pay off though.
Here in Arizona, most people think that is a pool but that may not always be the case. Pools are fantastic but they are expensive, require a lot of upkeep and are a serious hazard for young kids. A typical pool costs around $$30,000-50,000 to install and will only get you a max of $20,00 in an immediate value increase in your home. It’s great in heat like this but if a buyer really wants a pool, they will be willing to put one in themselves if they find the perfect home. Now if you’re planning on staying where you’re at for the next few years, that’s a different story. After a few years time, your return on investment will be there because it will increase the listing price on your home compared to those without a pool.
The real money maker in the backyard will be some type of a hardscape. “Hardscapes” are any sort of addition to your landscape that adds value. An outdoor room, kitchen, or a fire pit are great examples. You increase the living space of your home by creating a lounge area outdoors. It may not sound appealing with our record temps this week but nine months out of the year, it will be a hit. And buyers will see that. It can be outfitted to your specific taste and still attract buyers if you aim for a dining area or a covered patio.
If it’s something you’ve been thinking about, start making plans now! It may seem like a lot but remember you can pick and choose according to your budget. Whatever your taste may be, going with one (or more) of these three areas is sure to provide you with an increased value on your home.
If you’re taking on a big project, consider hiring professionals. You don’t want to do any damage or make changes that require a permit. You’ll get yourself in more of a pickle later.
The great part about it is that whether you want to sell this summer or next year, these will give you an up on other homes in the area and make it “the one” for buyers looking for something special.