The Best Remodels for Resale Value

Southeast Michigan Real Estate Podcast with Derek Bauer

Major upgrades and improvements aren’t always necessary. There are simple upgrades you can make that will help sell your home and won’t break the bank.

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I hope 2017 has gotten off to a great start for you. I wanted to drop by today to talk to you about what you can do to invest in your home. A lot of homeowners want to make repairs and remodels before they sell, but they don’t know which repairs they should avoid and which ones will add the most value.

If you have plans to remodel and want to make sure what you do is good for resale purposes, that’s a great idea. The first thing you’ll need to accomplish this is expert advice. That’s where we come in.
It’s true that kitchens and bathrooms are a big deal to buyers. However, don’t make the mistake of over-improving them. The additions you make will only return 55% to 65% of what you put into the project.

"It’s true that kitchens and bathrooms are a big deal for buyers."

However, if you do a minor renovation to a kitchen or bathroom, such as adding a new tile backsplash or a vanity, you’ll recoup 75% to 85% of that investment on average. Sometimes, we don’t even need to go that far. Often, a little bit of freshening up, whether that involves adding some lighting or replacing the counter, will net you the most positive return on investment.
Some other places where you can get 90% or more of your money back include entry doors, garage doors, and adding insulation. I have two clients right now who are getting ready to list in the next few weeks. The return on investment they will see from what I recommended is going to be three to 3.5 times what they put into it.
If you have any questions about your specific real estate situation or have any real estate questions in general, give me a call or send me an email. I look forward to hearing from you.