Summer is a popular time to sell a home, as well as the ideal time to finally take on a remodeling project. Whether you are looking to remodel in order to get the most money from your home sale, or just wanting to make it better for you to stay in, here are a few pointers to keep your wallet happy.
Kitchen remodels seem to be the most sought after home improvement projects. Cabinet refinishing, new appliances and even new flooring can help boost the appeal of your homes most used room.
DON’T: Make sure you know what is trending, and what is reasonable for your neighborhood. For example, don’t spend $100,000 on a brand new kitchen in a home with no other updates in a neighborhood that doesn’t have one-hundred thousand dollar kitchens. Or, as one comedian said, “Don’t put a chandelier in a haunted house.”
DO: Look at upgrades that count, such as replacing old appliances with energy efficient ones, installing a gas range, or fixing a leaking sink. New hardware, including a new faucet and sprayer, can go a long way on a small budget.
Like a kitchen, bathroom are heavily used and one that looks and functions well is a huge plus. If you only have one bathroom, fix it up with new fixtures, or even a deep cleaning. Adding a second bathroom, even if only a half bath, can easily pay for itself in resale value. You only need 18-35 square feet to add a half to full bathroom.
DON’T: Spend more on the remodel then you expect to recoup in resale value. Talk to a Realtor familiar with your area to see how much you should expect to gain and set your budget below that.
DO: Use a professional when planning and building your bathroom. New plumbing requires permits and inspections and you will waste time and money if you try to take shortcuts.
Finish the Basement/ Build an addition
Short term rentals like AirBnB, and Boomers looking to stay home longer, means more buyers are looking for additional space for such arrangements. Finishing a basement or even restructuring an outbuilding for guests can help offset mortgage costs and achieve financial goals.
DON’T: Forget to talk to your insurance company about increased costs as well as the increased utilities due to the addition. Take these into consideration when looking at any potential income. A new water heater, furnace or air conditioner may be required to keep up on the new demand, or it could fail quickly.
DO: Shop around to discover what the market will pay for the additional space and set it up for success with proper design and functionality for the intended purpose.
A Final Note
Before, during or after a remodel project, we suggest having your home inspected for any water leaks or damage. Plumbing must always be brought up to code in remodel work, and a pre-inspection can help you determine what needs to be done so you can factor it into your budget. Also, if you intend to do any digging, we suggest having your sewer line located so you don’t accidentally damage it.
Needing plumbing, gas line or heating/cooling work done in your home as you prepare for a sale or remodel? Give Sunshine Plumbing Heating Air a call today to get a quote and to get scheduled.