Remodeling and renovations are popular topics especially because of HGTV and the abundance of tv shows about flipping, home demolition, and decorating. As a REALTOR, remodeling conversations surface frequently with clients. Buyers purchase fixer-uppers with the intention of remodeling. Past clients reach out for a contractor referral because they are considering remodeling. Homeowners consider remodeling and staying in their current home or moving altogether to a home that is already updated. 

Sometimes when I meet with a potential seller in my comparable analysis pre-listing appointment, the homeowner has the following question: should I remodel or do repairs before listing? 

The source of this question is often “Will I get more money if I list my house after it is remodeled?”

Like many things in real estate (and life), there are no hard-and-fast rules or statements that I can responsibly make.

Here are a few things to consider when evaluating whether a remodel makes sense for you:

1. How long are you going to be in the house?
If you do not plan on being in the house for more than a couple of years, ask yourself if the time, energy, and money to remodel is worth it? If you will only be in the home for 6 months after the remodel is finished, then is the effort and cost of a remodel worth it?

2. Are you expecting a return on your investment?
What are your expectations with investment? Do you think that if you pay $50,000 for a kitchen remodel that your home will automatically sell for $50,000? Depending on the contractor and materials you use, you might not see a one-to-one increase in value to your home. Check out the included graphics for what remodeling projects have the least and most return on investment. It might make you consider just getting a new garage door before listing

3. How much money do you have for remodeling?
Remodeling costs money and often more “liquid” money. Cash. Often a remodel drains your savings account and sometimes your patience since remodels can increase in cost once they are started and new things are discovered in a home that needs repair. 

4. How valuable is your time & sanity?
Unless you are moving someplace else during the remodel, then remodeling your home means you are spending time out of routine. Air mattresses in the living room and using a microwave for all your cooking can get old quickly! 

5. Do you love your location? 
Are you in love with your location, the orientation on the home on the lot, and your exact street? If your exact location is extremely important to you, then it might make sense to stay put and remodel instead of move. However, if you aren’t in love with your location and also need upgrades to your home, then making the move might be the best bet. 

Are you considering remodeling or listing this year? Call me to find out how homeowners are benefiting right now for the low inventory levels across Southern California in the housing market. I would love to talk! 

 

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