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Howdy! Skoo here – your tiny neighborhood medical alert Yorkie! I may be tiny, but I am mighty! I tour around Bryan-College Station, traveling with Raylene and Heather on their real estate adventures. Most people don’t even know I’m around. I’m a spoiled princess and always tell the truth! Welcome to my blog on life in the Brazos Valley…
Skoo Says: I’ve learned a little bit about home remodeling projects by listening to Raylene and Heather council their home buyers and sellers.Home remodeling projects can be a great way to improve the functionality and aesthetics of your home, while also increasing its value. However, not all projects are created equal and most of the time value earned is not equal to the value spent. Some projects offer a better return on investment than others. But, before jumping right into a home remodeling project, you need to think hard about the reasons behind your renovations. If making money from your time, effort, and energy at resale time is your top priority, you might want to reconsider your plan. Normally, the best reason to remodel is so you can enjoy your finished project.
Here are a few guidance notes for Bryan/College Station:
- Kitchen remodels: A kitchen remodel is one of the most popular and profitable home remodeling projects. A well-designed kitchen can not only improve the functionality of the space but also increase the value of your home. Upgrading appliances and countertops can give your kitchen a fresh new look and make it more appealing to potential buyers.
- Bathroom remodels: Similar to a kitchen remodel, a bathroom remodel can also increase the value of your home. Upgrading your bathroom with new granite counters, tile, fixtures, and lighting can give it a fresh and updated look, while also making it more functional. A bathroom remodel can include the addition of a new bathroom, which can be a big selling point for potential buyers
- Addition of a Room: Adding a room to your home can be a great way to increase its value and functionality. A new bedroom, office, or even a family room can make your home more appealing to potential buyers and also provide more living space for you and your family….but any additions must look like they were always originally designed to be where they are and those locations must make sense in the floor plan of the home.
- Energy-efficient upgrades: Making energy-efficient upgrades to your home can help reduce your utility bills and make your home more environmentally friendly. Projects such as insulating your home, upgrading to energy-efficient windows, and installing a solar water heater can all help to lower your energy costs. These changes also make your home more desirable over your competition…but they don’t generally increase the home’s value or sales price when you go resale.
- Exterior updates: Updates to the exterior of your home can also be a great investment. Projects such as repainting or updating your siding, replacing your roof, or adding new landscaping can improve the curb appeal of your home and make it more attractive to potential buyers.
- Swimming pools. Adding a swimming pool to your home may seem like a great idea, but it may not result in an increase in the home’s value. The high cost of pool construction tends to shorten the list of prospective buyers. Many prospective buyers don’t want the maintenance headaches and liability, especially if they have young children. Swimming pools are expensive to install and maintain. Typically, pools tend to give a return on investment of only 1/2 of what you put in. So buy it for your enjoyment, not for resale!
- Customized upgrades: Customized upgrades: such as a home theater or a wine cellar may be appealing to some buyers, but they may not be as desirable to others. These types of upgrades can be expensive, and they may not increase the value of your home as much as you think. They may also make it more difficult to sell your home to buyers who do not have the same taste or lifestyle.
- Over-remodeling: Remodeling your home can be a great way to increase its value, but over-remodeling can actually decrease the value of your home. If you remodel your home to the point where it no longer fits in with the surrounding neighborhood, it may be less desirable to potential buyers. Additionally, if you remodel your home to include high-end finishes and appliances that are not consistent with the neighborhood, it may be difficult to recoup the cost of the remodel.
- Trendy Upgrades: Trendy upgrades such as a statement wall or a unique paint color may seem like a good idea at the time, but they may not be as desirable to potential buyers. These types of upgrades can be expensive and may not appeal to all buyers. They may also be difficult to change, which can make it more difficult to sell your home in the future.
- Replacement windows. Unless you live in an old house with drafty single-pane glass windows, replacing all your windows will not pay off at resale. Improvements in glass technology and frames can save you money in energy efficiency but, again, not enough to recapture your investment dollars.
While home improvement projects can be a great way to increase the value of your home, just be sure to think about your goals since not all projects will result in an increase in the home’s value. Em-BARKING on a home improvement project can be fun and exciting, just don’t forget to consider the potential return on investment and whether the project will increase the value of your home.
