Most sellers are thinking net proceeds when they start talking about listing.With the advent of staging, has come the next level of conversation…should we remodel in order to sell? Five years ago no Realtor in their right mind would have suggested spending good money, in order to dispose of a property. Hell that would be like having a tune up, brakes, exhaust and new tires put on a car before trading it in. Give it a wash and a vacuum and haggle as best you can…and be done with it. Right?...maybe not?
Not so easy…and not so fast these days.
In a remodel you will not get all your money back for years. Why do it? With plenty of inventory and buyers feeling no pressure to make a decision…selling faster is a big win. As buyers compare apples to apples, what feature lose in the scale tipping contest? Kitchens and Baths, these are big ticket items and if they are out of date your score card can show up in the loss column (or the trash).
Sellers want to spend the least amount possible, but appeal to a big crowd.
In the Kitchen the cabinets are the most costly, and rearranging them can add to the cost of plumbing and electrical changes. So first step try to leave the cabinets, work on counter tops, draw pulls, wall color, and appliances in necessary. In bath rooms the same idea applies moving or changing tubs and toilets get in to serious money, but faucets, fixtures , mirrors, draw pulls and the old pink wall paper coming down can be very cost effective and cosmetically can be a big improvement.
The Basic Assumption is this…Don’t be at a market disadvantage if there is clearly 
something you can do about updates. Ask your Realtor what should I do to help you sell my home? It is not all about price…unless you are giving something away. Bare in mind “Neutral” may not win an auto race, but it has never lost a real estate race. When your daughter was 12 and wanted a purple room you said yes, it is now time to return the powder puff girl to a neutral Nancy.
Other Tips to consider in a remodel to update and be competitive to other homes being offered in your market.
- If your second bath is only a half bath, steal some space from a closet or adjacent room and make it a full bath (buyers will disregard your property on that alone).
- Adding a deck can grow your usable space outside of the walls.
- Finishing a basement, it is far easier than an addition; it’s already there and needs less work and material to add square footage to your floor plan.
- Neighbors have a fireplace but you don’t, a gas fireplace on an outside wall built as a direct vent style is very affordable, and take very little changes to the structure to support, insulate and enclose the new feature.
Lastly, still have it staged or at least do a few simple things with the eye of an outsider. Harry homeowner wouldn’t see the clutter, knick-knacks and bowling trophies as a turn off. They walk by them everyday and hardly notice them anymore. Open every door, cabinet and closet…remove the clutter, your buyer will be looking in all these places too. Then, clean…clean…clean, yes a buyer will pull back the shower curtain if your tub has a story I don’t want to know it.
Remodeling is not out of the question, if your house is 
outdated and not competitive to others offered in the market (at your desire price point). We don't want you to spend money when it is unnecessary, but we don't want to still be showing your place next year either.
Remodeling is not a dirty word and in terms of time on the market it still may save you money in the long run .Or shorten the time you have to hold on to a property that is keeping you from moving on with your life.
All photos are from our in-house custom home builder / remodeler, for more information see their site: www.cargillconstruction.com
Your-White Mountain New Hampshire real Estate Expert
steve@alpinelakes.com toll free 800-926-5653 /cell 603-381-7898
MLS search and Realtor web site: www.alpinelakes.com
My outside Blog: www.steveswhitemountainblog.com
Lincoln NH & Local interest site: www.localism.com/nh/lincoln
