Cleaning and Staging make a big difference, we know, but for sellers looking to bring a property up to the neighborhood standards – remodeling may make sense.
According to Remodeling Magazine’s 2015 Remodeling Cost vs. Value Report, large-scale jobs aren’t likely to return full cost. But there are improvements worth doing in anticipation of an upcoming sale. Some returning as much as 100% of their cost, while others may not have much return, but can improve market position of a property in relation to the competition.
1.) Entry Door Replacement – average cost of $1,366 and returned 123% of the investment.
2.) Designer Garage Door Upgrade cost was $1,756 but recooped 110%
3.) Exterior Stone Veneer average cost was $7,258 and returned 108%
4.) Minor Kitchen Remodel average cost was $21,497 and returned 102% of the investment.
First impressions are important, and the replacements that offer the biggest payback are the ones that are most obvious to buyers when they first view a house in person or online, such as a new Front Door and Garage Door.
Kitchens still offer the most remodeling bang for the buck. A minor Kitchen remodel can include keeping the cabinet boxes in place but replacing fronts with new doors & drawers inlcuding new hardware. Or, with the new trend toward “White” Kitchens, a high quality paint job can make a huge difference and bring your Kitchen up to current design trends when you also replace appliances with more efficient stainless and add Ceasar or Silestone counter tops and design back-splash.