Renovation-To Do or Not Do? That is the Question.
Let’s talk about renovations before you decide to sell. What can we do to improve our chances of getting the highest value? Often times I hear clients talk about high-cost investments prior to selling. How often have you looked over listings in an area your looking to purchase and think to yourself, “wow it looks like they just replaced their kitchen?” Or “this look like a brand new house.” Even though it’s occupied by the current owners.
There’s a term called return on investment, something we should always look at prior to spending our resources and time on. In several articles recently written, there were only two projects that claimed over 100% return on. Not one article that I could find claimed more than a few could actually return more than invested.
Two that came in more than one article and really not ones you would think of would be a high-end garage door replacement and (not very sexy) making sure you have the appropriate amount of insulation in your attic. Adding insulation in the attic had one of the highest returns at 116%+. That’s because we lose the most amount of heat through our attics. Here in the Pacific Northwest, we use a fair amount of energy to heat our homes through the year. If you haven’t looked in your attic recently here’s is what energy star recommends for our zone,R38 to R60.
What does this mean in terms we can all understand?
If you have batt insulation you need no less than 12”
If you have loose fill cellulose insulation you need no less than 10”
Go up into your attic and take a tape measure with you. Adding additional insulation to meet current standards does not cost much and can be used to help market your home.
When I walk through a home there are four surfaces I look at for cleaning or renewing. I typically look at the largest surfaces we have to have the greatest impact on our potential buyer. First I will start on the outside.
Roof and walls, what does this tell the rest of the world. Different trains of thought go into a roof. It’s it is a large ticket item to replace. Why not make sure it’s clean, free of moss and debris, giving your potential buyer less to focus on. Inexpensive to have a professional come out and clean your roof and gutters.
What does your siding say? A professional depending on the size of your home can come in in just over two to three days and completely freshen up the exterior of your home with a neutral up to date color that appeals to even the most discriminate buyer. Make sure your painter uses a good paint and you can even use this in the marketing process of selling your home. Wouldn’t you want to have a home painted with Sherwin Williams paint instead of off the shelf paint from a discount store? Having painted myself I can tell you there truly is a difference in quality paint!
Now let’s go inside. Floors and walls, again the largest inside surface we have the greatest potential impact through a home. Walls, if you have children or pets living in your home, odds are those walls have marks and imperfections after living there. Nicks, dirt, gouges, the odd marker here and there, and the special color your son or daughter though was the neatest in her or his room. Time to give that surface a new fresh look. Go with a warm earth tone, light and neutral. Remember your not painting your home for you or your family. You want it to appeal to the greatest market. Ask for help at the paint store, these people see painters, professionals daily and know what the market is shifting towards and give you great advice!
Floors, the same would be true about them as the walls. That odd stain in front of the kitchen that looks like someone had something with sauce that’s two feet long and has been there for, well you don’t remember. Time to call in the professionals and get a referral for this. To many companies send someone that takes just a few minutes and breezes through your home with their cleaning machine. Hiring a true professional that takes their time and uses the right product is worth every penny spent. I recently helped a client hire a professional. It was a small 1000 square foot condo. I walked in and told him it’s a close call. Brought in the professional who walked through the condo and told him no problem. Hours later the client walks in and says, “this looks like the day we moved in when it was new!” He even made repairs to some bare spots from a cat. I have seen coupons that would have only cost him $99 for the whole home. This professional charged him just over $400 to do the job. He saved him from having to replace the home’s carpet. Money well spent.
If your carpet is beyond cleaning or your other flooring has lived through its life there are cost effective ways to approach this. Work with a professional, evaluate your timeline and goals.
It pays to hire a professional in these areas. In a matter of days, they can transform our spaces making the outdated look fresh, welcoming, and appealing.
Remember my goal is to get you the highest return on your investment within your time frame. Let’s engage in a conversation and come up with a strategy to bring you the greatest return which isn’t always the quickest.
Maybe you have come to my site and have decided now is not the time to sell and that’s ok. But you need a referral or want to talk to a professional prior to making a sizable investment. I am always happy to do either.
Call me direct at 503-781-9967 and let’s talk about your real estate goals!