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To Renovate Or Not To Renovate

Tuesday, November 15, 2016   /   by Stephanie Cornacchione

To Renovate Or Not To Renovate

  1. "To Renovate or Not Renovate that is the Question… "
                                              
                      6 Fail safe tips to renovation

     

  2. 1. Never Spend More Than your Profit Potential – This rule is pretty much to the point of do not spend $10,000 on a bathroom to get back $10,000 at sale time. Don’t forget the time and effort (as well as forgotten cost) you’ve had to endure while doing this renovation.

  1. 2. Kitchens and Bathrooms are Priority #1 – Any big interior expense will be eaten up by the rooms and these rooms should be considered before other rooms.

  1. 3. Limit Hard Costs – Putting down new hardwood flooring at $15.00 per square foot is a hard cost. Hiring someone to sand and refinish is a soft cost.

  1. 4. Appearance, Not Function – This may sound harsh, but it’s better to put $1,000 into paint and decorating vs. the new water heater. Buyers won’t be impressed by a new water heater. Appearance is something that is non-negotiable with buyers and will register with buyers on a sub-conscious level. If the water heater works, then great.

  1. 5. Refurbish, Not Replace – Wherever possible refurbish what you can to make things as good as new. Obviously, you will need to replace things that are just not functional, but you can realize some great cost savings here.

  1. 6. Paint is Magical – A fresh new coat of paint works wonders, especially well chosen contemporary colors, so the buyer can envision their furnishings in your space. Keep it light and beware of dark shades.


Home Makeover

If you don’t have to do any renovations, then you are one of the lucky ones. A renovation is a major undertaking and usually not much fun, but sometimes necessary. To freshen up your house and make it look its best on a limited budget your real estate agent can assist you with tips and suggestions to make your home more marketable. They also have the contacts to help should you require professional services to help get the house in shape before going to market. You would be surprised of the difference a good deep clean, a few gallons of paint, de-cluttering, and some furniture re-arranging can do for your house. To avoid spending a massive amount time, energy, and money on potentially unnecessary home renovations, be sure to discuss your plans with your real estate agent. They can help you maximize your return on whatever investment you plan to make before putting your house on the market. Your agent will know what buyers are looking for in your neighborhood and what will work best for the home or whether it’s even necessary to do anything depending on the current state of the market.

Moving is a daunting task to undertake and deciding to live through a renovation beforehand can be a strain on even the most patient person. Whatever you decide, know that you are not alone in your decision. I can assure you that your real estate agent is there to help you. They want what’s best for you and will assist you in whatever capacity they can. You should utilize the knowledge they have to guide you through the process, no matter what you decide.



Keller Williams
Jack Campbell
12780 High Bluff Drive
San Diego, CA 92130
858-240-9900


Gaylord Hansen
Sam Hansen; Mortgage Expert
NMLS #632837
5015 Shoreham Place, Suite 100
San Diego, CA 92122
858-442-1232
sam.hansen@gaylordhansen.com
www.gaylordhansen.com

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