Remodeling Projects

If you have thought about a large remodeling project, and wonder what you could expect to see in resale for that project, the news is out! In past years, with remodeling or updating projects, you could generally realize up to 87% of the cash outlay. With today's economy, probably a more realistic view is 64%, and still depends on WHAT projects you do.

The BIGGEST return on your dollar, is always the repair maintenance. Buyers do like those items you add--- Jacuzzis and Sub-Zeros, but they cannot tolerate a leaky roof, faucets, or outdated plumbing/electrical. Many times buyers walk into a home, and if there is too much deferred maintenance needed, they will go onto the next home to view.

If the buyers STAY, and write on your property, and ask for things to be fixed, you may end up spending more than you would have, had you fixed them before putting a home on the market. (if you don't have the cash to fix, and buyers want the $$ in closing costs, this amount will generally be inflated)

If you have thought about "adding on", maybe opening up a wall to provide a more open floorplan may do the trick, and will be less expensive.

Of course, if you have ANY questions, and were thinking of remodeling, and just wondering how much you could realize from this remodel, please give me a call. I would love to help!

Joan Cox, GRI,ABR,CRS-e-Pro
Metro Brokers - House to Home, Inc.
Denver, CO 80237
www.JoanCox.com
720-231-6373