MBS Interiors listed 12 Remodeling Mistakes to Avoid and we regularly give tips about remodeling do’s and don’ts. You can guess that such a comprehensive topic would require updates and have them for you now! Homeowners remodeling goals can vary greatly depending on whether or not they plan to sell in the foreseeable future. Keep reading for 3 Remodeling Lessons for Homeowners Who Plan to Sell.
Expecting your project to pay for itself
Homeowners remodel for a slew of reasons; including the ever popular “return on investment.” If you have matters on money and moving in mind, doing research on the most profitable remodel projects will help you get your cash back when it comes time to sell. However, if you don’t plan on moving in the near future, or at all, getting all your money back isn’t imperative. If you are firmly rooted in your home, throw caution to the wind and remodel to your heart’s desire. There are a myriad of reasons to remodel that don’t involve making money. Remodeling for the sake of function and happiness can be just as important and getting your project to pay for itself. However, be cautious about pricing yourself out of the neighborhood…
Remodeling yourself out of the neighborhood
Just like you don’t want to purchase the most expensive home on the block, you also don’t want to remodel yourself into the most expensive home on the block. Zillow states that it is a worthwhile strategy to purchase one of the cheaper homes in a neighborhood and improve it into working condition, “Just don’t get carried away and turn the worst house on the block into the biggest and most expensive one.” Your home may not always be yours, so avoid investing so much money into a remodel that you’ve priced yourself out of the neighborhood when it comes time to sell. Compare your home to others locally and talk to a contractor or real estate agent to ensure you aren’t pricing your home too far above or below the neighborhood. Homeowners who have learned this lesson realize that homes are typically appraised in comparison to similar homes in their neighborhood. Homeowners who possess the most expensive home on the block will be compared to lesser homes, and will likely be appraised for much less money than it’s worth.
Over-personalizing your space
Getting too personal is yet another remodeling no-no when you plan to sell your home within the foreseeable future. That bright wall-to-wall carpeting might seem like a good idea now but many potential homebuyers are deterred by carpeting in the wrong space or paint in the wrong color. Potential homebuyers want a house that is move-in ready, and to some that means carpeting and paint they don’t need to be change right away. Not only are many prospective homebuyers deterred by the thought of painting an entire home and ripping out carpet upon moving in, they will find it much easier to imagine themselves in your space if you have neutralized the decor and removed traces of your personality.
The best way to avoid learning a remodeling lesson the hard way is to do your research and take the time to discover what you really want to get out of your remodel. Work with an experienced contractor and designer and they can help you avoid some typical remodeling pitfalls as well.