2017 Home Renovations

My wife and I just updated our kitchen and we did the work ourselves. Instead of dropping thousands of dollars on new cabinets we consulted Sherwin Williams and learned now to repaint them at a fraction of the cost. We removed the doors, primed & painted (doors and frames) and installed new hinges and hardware and they look great. We even did a slight distressing of them for some character. We added shiplap boards bought from Lowes that came in a kit and installed them on our island.   Now, I am nowhere even close to being handy but I can paint, do hardware, and cut boards which is all we did but it looks amazing. So, this got me thinking - how can I help others sell their home but not lose money when it comes to renovating?  My next door neighbor put nearly $70K into a home renovation and also bought the house for a high dollar amount so now she is swimming in debt and her home will not sell because it's over priced due to the renovations.  You have to make sure your investment is going to be worth it.  Check out our before and after pics...

Here is a before pic of our kitchen:   

Here is our kitchen after (still need to put back splash up) which cost under $1k:

       I read an article at http://www.realtor.com/news/trends/best-and-worst-renovations-to-make-in-2017/?identityID=56c6204b698ab9a903015dbf&MID=2017_0113_WeeklyNL&RID=3739612622&cid=eml-2017-0113-WeeklyNL-blog_1_renovations-blogs_trends and found it to be very useful and relevant.  It provides research on the 2017 top home renovations, contractor costs and the ROI (Return on Investment) on a variety of projects. Strange enough the number one renovation is completely unseen but the ROI is over 100% which means you can get all your money back and then some.  The ROI on placing insulation in your attic is around 108%.   The next top renovation is changing out your front door for an attractive solid steel door. According to Realtor.com the average ROI is 64% on home upgrades and renovations. Of course we all know that buyers buy for the kitchens and bathrooms so  those are the big renovations that sell. So, take a look at their chart and see what you think you need to do to get the most out of your home.  It's also a good idea to understand that many upgrades do not increase value, though they may help sell your home faster. Things such as replacing the roof when it's needed or getting new HVAC does not increase the value...that is considered maintenance but if those things are not done you're going to have a difficult time selling.

     Of course, nothing is better than having an experienced and trained Realtor come in and view your home and give you ideas. Also, if you're unsure about your home and it's current condition you can hire a licensed home inspector to come and in give you an evaluation and they will also provide you with ideas on what needs done. The price of a local inspector runs from $250-500 (depending on size of your home).

If you'd like me to come in and give you ideas on selling your home I'd be happy to assist. I can also help you stage your home to get the most viewings, and money, on your home and work with a staging specialist if needed. Call me today (or tomorrow) for any real estate questions or to sell your home. I also love referrals... 

Jason Gregg, Realtor
843.696.8627
Jason.Gregg@kw.com
www.Palmettodreamhomes.com