Wondering if it makes sense to update your home, especially if you plan to sell? Don't expect to recoup 100% of your total cost when you sell, but the good news is that the cost vs. value for remodeling (resale value as a percentage of cost) has gone up the last couple years.
As you can see from the above information from the 2014 Cost vs. Value report jointly compiled by Remodeling magazine and the National Association of Realtors, the percent of value recouped at time of sale went up both in 2013 and 2014 after falling steadily for six years.
If you are thinking about moving in the next few years, now is the time to do your updating… so you can enjoy it yourself before you sell! When the time comes to sell, updates make your home more appealing to broader range of buyers… resulting in shorter market time and better price.
Wondering what updates make the most sense to get the best payback? We would be happy to provide a free consultation… email, text or phone (612-419-0560) to schedule an appointment for a time convenient for you.
Sharlene Hensrud, RE/MAX Results – Seller's Agent