With so many options for remodeling a home, it can be tough to decide which projects to tackle first. While tiled showers, luxurious kitchens, and stained decks are wonderful additions to any home, they are often not the most needed updates.
Exterior remodels can quickly cost over $10k or more depending on the materials, labor, and extent of the project. Therefore, careful planning and prioritizing are essential to making sure you have the best return on the investment.
Many studies have shown that basic maintenance projects, like new siding and roofs, are more likely to lead to a sale than a freshly updated bathroom or overhauled kitchen. One reason for this is that many buyers look for structural integrity of a home and curb appeal before interior updates.
Wet basements, leaky roofs, cracked foundations, peeling siding, and drafty windows all look like big issues to potential buyers. More so than old tile in a bathroom. If a buyer doesn’t look past the poorly maintained exterior, they will likely not even have the chance to see a beautiful new bathroom inside.
Buyers often expect and plan for cosmetic updates to suit their style. Structural integrity and maintenance often give buyers the confidence to invest in the home while planning interior upgrades to make it exactly what they want.
Whether or not you plan to sell in the near future, exterior remodels can be a healthy investment in the long-term stability of your home. Upgraded siding and roofing can help ensure prevention of bigger issues down the road, while interior upgrades can come later as finances permit.
If you are considering selling your home in the near future, try to plan your exterior remodel to be consistent with the upgrades in the neighborhood. If most other homes in the area have cement board siding, a less expensive vinyl siding on your home could easily affect its value and make it more difficult to sell at the price you expect.
Colors and curb appeal are also factors to consider while remodeling to sell. A house that stands out as too different than other homes in the neighborhood could be an eye-sore. Neutral colors are safe, while bolder colors that complement the neighborhood can add interest and draw attention from the right buyers. If you plan to stay for awhile and aren’t too concerned with resale value, your remodeling choices should suit your own taste since you’ll be living there and will want to enjoy it.
Although basic maintenance is a given for your home, the interior updates, such as new bathrooms and kitchens, can also increase the resale value in certain markets. The addition of a second bathroom can be a big selling point in some areas as well.
Check with your local realtor for tips about recent sales in your area. Also get in touch with us for an estimate for your new home exterior.