If you're thinking about selling your home, now is the time to remodel it to increase the resale value. Updating your home has never been more critical, with few homes for sale and low homebuyer sentiment. Just because we're in a seller's market (lots of buyers but few homes for sale) doesn't mean an outdated house will bring you top dollar on the sale of your house. So, slap on a fresh coat of paint and refinish the hardwood floors because we want you to make the highest profit on the sale of your home.
- Remodel before selling your house
- Consult with your real estate agent and a local contractor
- Choose home remodeling projects that result in the highest ROI
Updating your home before selling it will give you an advantage over other home sellers who don't remodel. Talk to your real estate agent about remodeling your home before putting it on the market. According to the 2022 Remodeling Impact Report, the following home remodeling projects bring the greatest return on your investment (ROI):
Interior Home Remodeling:
- Refinishing hardwood floors (147% return)
- New wood flooring (118%)
- Insulation upgrade (100%)
- Basement conversion to living area (86%)
- Closet renovation (83%)
- Complete kitchen remodel (75%)
Exterior Home Improvements:
- Roofing (100%)
- Garage door (100%)
- Fiber cement siding (86%)
- Vinyl siding (82%)
- Vinyl windows (67%)
- Steel front door (63%)
Large, extensive remodeling projects may require a permit from the city and inspections (ex. electrical and plumbing). If you're a DIYer, consult with a professional contractor on larger projects (ex. kitchen, replace roof). Smaller DIY projects, like repainting a room or replacing a toilet, can be done without a permit. If you're in doubt about whether or not you need a permit to remodel parts of your home, consult with a remodeling contractor near you.
Conclusion
Remodeling your home before selling it will typically bring a higher sales price. Also, you will be able to enjoy the renovated space while you're still in your home. Before remodeling, remember to consult with your real estate agent or a local contractor. Get an edge over other homeowners who choose not to update their homes by remodeling your home today.
Share your remodeling home spaces on our Facebook page. We can't wait to see your updated rooms!
