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How much is too much when it comes to remodeling your home?

by Meghan Heritage on December 11, 2015

For many homeowners, selling their home is an event that usually only takes place once or maybe twice in their lifetime.  For this reason, the experience is completely foreign to them and they may be carrying old ways of thinking in terms of how to prepare the home for sale.  Where once some things may not have been a turn off to sellers, in the current marketplace there may very well be different standards. It is highly recommended to consult with a professional prior to having any significant work done on a home – especially if the prospect selling the property is in the near or short-term future.  Here are a few reasons why homeowners should proceed with caution before embarking on any major repairs, renovation or remodeling their homes.

  1. New Owners May Not Have the Same Taste – Though there are a few “clean slate” type design looks that are fairly universal, one can never tell how potential buyers might react to particular design elements in a home. Aside from keeping a fairly neutral color palette and updating kitchens and bathrooms to a modern state, generally less is more.  In some cases, sellers deliberately leave areas in their home that require a lot of work for their future buyers to contend with. When rolled into negotiations, it can end up saving the sellers a lot of money while sparing buyers a lot of headache at the same time.
  2. Housing Values May Already Be Topped Off – Depending on the market, your home may already be at the maximum limit in terms of value in the neighborhood.  If your home is already among the ones valued higher than other nearby homes, then putting in any more money toward the property could end up being a waste of money.  It is a good idea to leave some room for a home to increase in value over the years.  If there is a significant amount of investment made to improve the home but it falls outside of the value range for the neighborhood, it could be a huge turnoff to buyers resulting in fewer offers.
  3. Hidden Costs Could Surface During the Remodel – if you expect to sell your home soon, the last thing you want to to do is to get involved in a lengthy renovation project only to discover that there are hidden issues lurking behind the walls.  Many times unsuspecting homeowners encounter hidden problems that end up costing a lot more money than they ever expected.  Had they spoken to a Realtor in advance, they might have learned that a better strategy would be to allow potential buyers to decide whether they preferred the change.

When you make the decision to incorporate some changes to your home, be sure to sit down and consider all the current and potential factors at hand.  Many homeowners do not realize how beneficial meeting with their real estate agent can prove to be if done prior to beginning any major work.  Before overdoing any of the “redoing” in your home, call us today at BlueWest Properties for an appointment to discuss!  www.bluewestproperties.com #realestate #westmichigan #letushelpyoumove

 

Meghan HeritageHow much is too much when it comes to remodeling your home?