Guest blog by Reflections Remodeling.
When remodeling, homeowners have a specific vision for how they’d like to see their living space realized. Whether it’s a practical upgrade to newer, more efficient appliances or fixtures, a single-room makeover, or a whole-house renovation, keeping an eye toward resale value is always a good idea. Commonly, clients will pay for exorbitant construction or unnecessary upgrades in the hope that they can recoup that cost when they sell their home. The sad truth is that a buyer often doesn’t see certain remodels as being worth the original amount, and the seller has to accept an offer that only pays a fraction of that remodeling cost. Here are some tips to help maintain a high value for the remodel, especially when the time comes to place a home on the market.
1) Be cautious of the word “addition.” Though additions do increase the square-footage of the home, they tend to be money sinks that, depending on the project, can range from tens of thousands of dollars to hundreds of thousands, and which, at resale, deliver only cents on those dollars. Even a small bathroom addition, with standard materials, will require a foundation, framing, new walls, insulation, wiring and plumbing. Larger additions, for instance a custom garage, sunroom or bedroom suite, might perfectly accommodate your specific needs, but might be viewed as impractical or unnecessary to a potential buyer.
Instead, get estimates for remodeling the space you have. While a single- or multi-room renovation will still cost up front, these fixes retain their value to buyers better than most additions. Good remodelers will be able to personalize your rooms while maintaining resalable value in them.
2) Efficiency is profit. There are several relatively small projects that not only remain attractive to buyers down the road, but that also start saving you money immediately after they’re completed. Does your home seem drafty? Install high performance double- or triple-paned windows in place of old single-paned. Include wireless lighting and thermostats along with the windows and watch your energy expenditure stabilize. Trying to stay drought conscious? Replace standard toilets with low-flow toilets and add a high-efficiency water heater. Enjoy the sun? Solar technology continues to improve and drop in price. Most general contractors can complete any of these improvements in about a week. And, to sweeten the deal, a vast majority of them net tax rebates at the end of the year.
3) Start small. Unless you’re looking for an entirely different floor plan, upgrading just a few things about a single room can drastically increase its appeal. If a bathroom feels too small, think about switching out the vanity for a pedestal sink, or adding a tubular skylight into the ceiling for more natural light and the feeling of more space. Does the kitchen feel outdated? Instead of knocking out walls, start by upgrading your appliances and retrofitting the cabinet and drawer hardware. After that, maybe you just need a new counter top and tiled backsplash to complete the look you were after, without breaking your bank.
Your home is an investment that should be a return in the future. By starting with these tips before you remodel, there’s no reason it shouldn’t. Remember, these are general tips; research your specific area to better understand the trends and needs for your home.
Reflections Remodeling is a woman-owned construction company serving Austin and the surrounding areas. Since 2010, we have been providing beautiful, professional remodels, renovations and repairs. Whether implementing a whole-house makeover, or installing a light fixture, Reflections takes pride in competent, budget-minded craftsmanship.
Owners Joy and Charlie Groves are the ladies behind Reflections’ quality standard. Joy can be found at job sites, where she gets her hands dirty as the General Contractor and Manager of On-Site operations. Charlie keeps jobs running smoothly behind-the-scenes, as Office Manager. Together, these women are changing the face of home remodeling, looking to reflect your vision, one project at a time.