{"id":4019,"date":"2018-11-17T09:41:38","date_gmt":"2018-11-17T14:41:38","guid":{"rendered":"https:\/\/dankrell.com\/blog\/?p=4019"},"modified":"2019-04-25T06:58:38","modified_gmt":"2019-04-25T10:58:38","slug":"home-sale-renovations","status":"publish","type":"post","link":"https:\/\/dankrell.com\/blog\/2018\/11\/17\/home-sale-renovations\/","title":{"rendered":"Home sale renovations"},"content":{"rendered":"
\"home<\/a>
Interior Home Sale Renovations (infographic from nar.realtor)<\/figcaption><\/figure>\n

According to the National Association of Realtors<\/a> (nar.realtor), the average time a homeowner stays in their home is ten years.\u00a0 This is higher than the seven-year average prior to the great recession (but is less than the thirteen-year average immediately following the recession).\u00a0 Needless to say, many homeowners are approaching (or have exceeded) their ten-year stint, and are likely selling their home during the spring and will likely be doing home sale renovations.<\/p>\n

Any home sale preparation<\/a> in today\u2019s housing market should include some home sale renovations.\u00a0 If you haven\u2019t replaced the home\u2019s systems (such as the roof or HVAC) while you lived in your home, there\u2019s a good chance that they are approaching or have exceeded their average life expectancy.<\/p>\n

Additionally, the d\u00e9cor and fixtures in your home are likely outdated.\u00a0 The home sellers who make the mistake of not updating or renovating before they list inevitably face home inspection issues.\u00a0 They ultimately find that the home takes longer to sell at a reduced price.<\/p>\n

Let\u2019s face it, remodeling can be expensive and overwhelming, especially when it’s for home sale renovations.\u00a0 According to the NAR\u2019s 2017 Remodeling Impact Report<\/a>, about $340 billion was spent on remodeling projects in 2015.\u00a0 Although a majority of homeowners would remodel their home themselves, thirty-five percent would prefer to move instead of remodeling their home.<\/p>\n

The Report cited functionality and livability as the top reasons for home sale renovations.\u00a0 It\u2019s a no-brainer that home buyers prefer<\/a> homes that are functional, comfortable, and sustainable.\u00a0 Aesthetics is not enough for a home to be appealing to today\u2019s home buyer, it has to fit their life style.\u00a0 Additionally, home buyers want efficient systems in their new homes that can help save on utility costs.<\/p>\n

Home sale renovations should focus on functionality and livability<\/h3>\n

What projects will get buyers who will pay top dollar into your home<\/a>?\u00a0 It should be no surprise that the number one interior project, listed by the 2017 Remodeling Impact Report, is a complete kitchen renovation.\u00a0 Other essential interior projects include renovating bathrooms, installing new wood flooring, creating a new master suite, replacing the HVAC system, and finishing a basement or attic.<\/p>\n

It also shouldn\u2019t be a surprise that the Report listed replacing the roof as the top exterior project. Other exterior projects in high demand include new windows, new garage door, new siding, and installing a new front door.<\/p>\n

If you want to add value to your home, even if it’s not for home sale renovations, check the 2018 Cost vs. Value report<\/a> (costvsvalue.com).\u00a0 The report can give you insight to which remodeling projects are the most popular, and estimates how much of the cost you can potentially reclaim when you sell your home.<\/p>\n

There\u2019s no doubt that renovating your home can be expensive.\u00a0 Although the costs of home sale renovations can tempt you to cut corners, don\u2019t.\u00a0 Cutting corners on renovation projects<\/a> can actually cost you more.\u00a0 You may have to repair, or even re-do the project if not finished adequately.\u00a0 Home buyers are savvy, and can spot low quality materials and poor workmanship.<\/p>\n

Also, make sure to get permits when required.\u00a0 If the home buyer doesn\u2019t ask you, the home inspector will likely recommend that the home buyer check for permits.<\/p>\n

Although many homeowners don\u2019t mind a DIY project, many hire home improvement professionals.\u00a0 When hiring home improvement professionals, check with the Maryland Home Improvement Commission (dllr.state.md.us\/license\/mhic) to ensure they are licensed contractors<\/a>.\u00a0 You should also ask for proof of their insurance, including Workman\u2019s Comp insurance, in case there is an accident on your property while completing the project.<\/p>\n

If you hire a contractor who will accept payment when the house sells, read your contract carefully and thoroughly. Do your due diligence<\/a>.\u00a0 There may be provisions in your contract that you may not be aware of, such as added costs, charging interest, and setting\/lowering the sale price.<\/p>\n

Original article is published at https:\/\/dankrell.com\/blog\/2018\/11\/17\/home-sale-renovations<\/p>\n

By Dan Krell<\/a>. Copyright \u00a9 2018.<\/p>\n

If you like this post, do not copy; instead please:
\nlink to the article<\/a>,
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\"Protected<\/a>
\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":"

According to the National Association of Realtors (nar.realtor), the average time a homeowner stays in their home is ten years.\u00a0 This is higher than the seven-year average prior to the great recession (but is less than the thirteen-year average immediately following the recession).\u00a0 Needless to say, many homeowners are approaching (or have exceeded) their ten-year … <\/p>\n

Continue reading “Home sale renovations”<\/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":[477,1039,113,419,33,35,478,123,382,8,32,256,61,406,367,13],"tags":[938,1041,855,926,810,811,939,865,522,797,517,507],"class_list":["post-4019","post","type-post","status-publish","format-standard","hentry","category-cost-vs-value","category-getting-top-dollar","category-home-improvement","category-home-owner","category-home-pricing-strategy","category-home-remodeling","category-home-renovation","category-home-sale","category-home-seller","category-home-seller-tips","category-home-selling-strategy","category-home-selling-tips","category-home-staging","category-homeowner","category-homeseller-tips","category-real-estate","tag-cost-vs-value","tag-get-top-dollar","tag-home-improvement","tag-home-owner","tag-home-pricing-strategy","tag-home-remodeling","tag-home-renovation","tag-home-sale","tag-home-staging-2","tag-real-estate","tag-selling-a-home","tag-selling-strategy"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p1VZLf-12P","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts\/4019","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=4019"}],"version-history":[{"count":6,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts\/4019\/revisions"}],"predecessor-version":[{"id":4339,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts\/4019\/revisions\/4339"}],"wp:attachment":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/media?parent=4019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/categories?post=4019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/tags?post=4019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}