Should I Remodel?

Seems everyone is in spring cleaning mode. A common question I get asked is “Should I remodel or renovate my home if I plan on selling it?”

Here’s my answer:

Hi, it’s Ruth. I wanted to quickly talk about a topic that I’ve had a few conversations recently about and that’s should I remodel my home, or should I sell it and buy a different home? Here are a few ways to think about it that I hope will be helpful to you.

If you are generally enjoying your home and you see yourself making some changes and making that home work for you for the next seven years or longer. Seven, 10, 15 years, then by all means, do whatever you want to the home to get the most enjoyment out of it. That’s my recommendation if you really do enjoy the home and it’s working for you, for your family.

If you’re looking to stay in the home for one to seven years, then as always you should do the basic maintenance to keep the home functioning as it should. Any modest modifications would be a good idea so you do enjoy the home for the next few years, but I would say don’t go nuts. You may want to think about the return on investment in some of the renovations. So you do want to enjoy the home, but you don’t want to invest money that you’re not going to get back if you know this home is not going to be working for you in just a few years.

If you’re looking to sell the home within the next year, if you really do know that you want to move, my recommendation is, as always, maintain the home. Make sure everything is working, but do not invest a huge amount of money into the house. Certainly not on cosmetics.

As long as everything is functioning, I would say speak to me or your local real estate agent and figure out which items would be a good investment in and which would not, what are really buyers looking for in a house. But investing and redoing say a kitchen right before you’re going to sell it, we’re not sure you’re going to get that money back necessarily. It also may be an unnecessary hassle for you as well. So don’t start a huge project if you know you’re going to sell the house.

It’s amazing to me how many sellers, home sellers, we catch right before a huge renovation and when their intent is really to sell. We’ve saved them a huge amount of time and a huge amount of work. The best option observations is to speak to a real estate agent in your area who knows the local market, knows what the buyers are looking for, and you know what the prices are and what the return is.

Most likely major renovations in the short term are not going to pay back. By all means, if you’re going to enjoy that home for many years, go nuts. Do whatever you want to make it a wonderful home for you. If you have any questions, give me a call, text, write. Love hearing from you.
Ruth Malkin Brookline Real Estate Expert