Some upgrades — not major overhauls — do carry a fairly high return on investment , such as replacing street-facing vinyl siding with stone veneer, touching up exterior paint, and installing a steel entry door. You also have to account for how certain projects make your home more marketable and attractive to potential buyers. Compare that to refinishing hardwood flooring to upgrade worn-out surfaces and the overall finish and materials.
However, not every upgrade will impress the buyers you want. You might spend a lot of time and money deciding on just the right color for the family room, only to have a buyer want to paint it a different color, noted Ryczek. Some buyers also are impressed with what seem like basic features. A smaller segment of buyers, typically younger couples, do enjoy remodeling, Ryczek adds. We do not include the universe of companies or financial offers that may be available to you.
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Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. The biggest of these costs are real estate agent commissions and transfer taxes, which for a median-valued U. When deciding to renovate before selling, look at prices of similar homes in your neighborhood that have been renovated recently and see what the asking price is, and how different it is from what you could get for your home as is.
A light remodel should only include cosmetic updates. Things like new countertops, paint, hardware, cabinetry, or lights can make a big difference relative to the lower cost that comes with more intensive projects.
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Ryan Haar December 14, 5 Min Read. Getty Images. Editorial Independence We want to help you make more informed decisions.
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