{"id":2865,"date":"2017-03-18T08:18:16","date_gmt":"2017-03-18T12:18:16","guid":{"rendered":"http:\/\/dankrell.com\/blog\/?p=2865"},"modified":"2020-10-20T08:43:47","modified_gmt":"2020-10-20T12:43:47","slug":"misguided-house-makeover","status":"publish","type":"post","link":"https:\/\/dankrell.com\/blog\/2017\/03\/18\/misguided-house-makeover\/","title":{"rendered":"Misguided house makeover"},"content":{"rendered":"
\"house<\/a>
House Makeover (Infographic by Allianz Australia Home Insurance allianz.com.au)<\/figcaption><\/figure>\n

Do you really need to spend money to make money?\u00a0 Deciding what renovations and updates<\/a> to make prior to your home sale can be tormenting.\u00a0 It\u2019s easy enough to say that your home needs a facelift; but, the repairs, updates, and painting costs money \u2013 and usually lots of it.\u00a0 The suggestion of making renovations and updates to your home before you sell is everywhere, it\u2019s on TV, the internet, and magazines.\u00a0 And if you ask friends and real estate agents, they will also give you a list of \u201cmust do\u2019s.\u201d\u00a0 Regardless of how you decide to do a house makeover before the sale, chances are that you\u2019re not doing it right.<\/p>\n

There is no doubt that many home buyers are looking for a turn-key home.\u00a0 If your home is not \u201cout of the box brand new,\u201d you probably need to freshen it up, as well as make some repairs and updates.\u00a0 But before you embark on the house makeover by making those renovations, you need to ask yourself two important questions: \u201cHow much money can I realistically allot for a makeover?\u201d and \u201cHow much am I expecting to net from my home sale?<\/a>\u201d<\/p>\n

Does a house makeover really get you top dollar<\/a>? Spending money on renovations will certainly make the home sell faster, but not necessarily make you more money.\u00a0 And there is no guarantee that the house makeover renovations you make are to home buyers\u2019 tastes.\u00a0 So if you\u2019re goal is to get top dollar, don\u2019t look at the sale price.\u00a0 Instead keep your eye on your estimated net (the amount you\u2019re left with after the sale minus total renovation costs).<\/p>\n

Of course, the best way to maintain your home\u2019s value is to perform regular maintenance<\/a>.\u00a0 It would certainly make the home prep easier too!\u00a0 But the reality is that many home owners defer maintenance until they feel it\u2019s absolutely necessary.\u00a0 Deferring maintenance can actually cost more in repairs down the line, and lower your home sale price.\u00a0 Spending money to correct all the years of neglected repairs and updates prior to the home sale won\u2019t necessarily get you top dollar.<\/p>\n

Not all buyers are looking for renovated homes.\u00a0 One of Stephen B. Billings conclusions in his recent research (Hedonic Amenity Valuation and Housing Renovations<\/em><\/a>; Real Estate Economics; Fall 2015, 43:652-82) was that during the past \u201chealthy\u201d housing market, there was a balance between renovated and non-renovated homes that sold.\u00a0 However, he also found there was an increase in renovated home sales during the housing downturn of 2007.<\/p>\n

Selling your home \u201cas-is\u201d would certainly decrease your sale price, but could net you the same or even more if weighed against extensive renovations of the house makeover.\u00a0 Consider that you would only recoup a fraction of the cost of a minor kitchen and bathroom remodel; which averages about $20,122 and $17,908 respectively (according to 2016 Cost vs Value Report<\/em><\/a>; remodeling.hw.net).<\/p>\n

Concentrate on the basics of decluttering first. Decluttering <\/a>can make your home look different and feel larger.\u00a0 Decluttering can set the stage for fo you decide on renovations, and maybe even home staging.<\/p>\n

If you decide on freshening up your home before the sale, start with the basics.\u00a0 Focus on deferred maintenance, and make necessary repairs.\u00a0 Consider a fresh coat of paint, and maybe new carpets.\u00a0 Wood floors don\u2019t necessarily have to be replaced or sanded; flooring professionals use state of the art processes to \u201crenew\u201d wood floors.<\/p>\n

If you decide on a house makeover, focus first on making repairs and freshening your home. Work out a budget and get several quotes from licensed contractors.\u00a0 Don\u2019t automatically go for the cheapest quote, even if you\u2019re on a tight budget.\u00a0 Focus on quality, even if it means limiting the scope of work.\u00a0 Poor workmanship can sabotage your home sale by making your home look shabby and in need of additional repairs and updates.<\/p>\n

Copyright \u00a9 Dan Krell
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\nDisclaimer<\/a>. This article is not intended to provide nor should it be relied upon for legal and financial advice. Readers should not rely solely on the information contained herein, as it does not purport to be comprehensive or render specific advice. Readers should consult with an attorney regarding local real estate laws and customs as they vary by state and jurisdiction. Using this article without permission is a violation of copyright laws.<\/p>\n","protected":false},"excerpt":{"rendered":"

Do you really need to spend money to make money?\u00a0 Deciding what renovations and updates to make prior to your home sale can be tormenting.\u00a0 It\u2019s easy enough to say that your home needs a facelift; but, the repairs, updates, and painting costs money \u2013 and usually lots of it.\u00a0 The suggestion of making renovations … <\/p>\n

Continue reading “Misguided house makeover”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1040,255,31,35,478,173,123,32,13,377],"tags":[579,661,1041,809,811,939,885,865,633,927,797,508,517,507],"class_list":["post-2865","post","type-post","status-publish","format-standard","hentry","category-get-top-dollar","category-home-clutter","category-home-condition","category-home-remodeling","category-home-renovation","category-home-repairs","category-home-sale","category-home-selling-strategy","category-real-estate","category-renovation","tag-de-clutter","tag-decluttering","tag-get-top-dollar","tag-home-condition","tag-home-remodeling","tag-home-renovation","tag-home-repairs","tag-home-sale","tag-home-selling","tag-property-condition","tag-real-estate","tag-remodel","tag-selling-a-home","tag-selling-strategy"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p1VZLf-Kd","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts\/2865","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/comments?post=2865"}],"version-history":[{"count":10,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts\/2865\/revisions"}],"predecessor-version":[{"id":6033,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts\/2865\/revisions\/6033"}],"wp:attachment":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/media?parent=2865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/categories?post=2865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/tags?post=2865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}