Welcome to the inaugural column of “At Home With Heidi & Sandy.” We are here to give you the inside scoop on real estate and the construction industry; what’s up, what’s down, what’s hot and what’s not. We’ll share real estate stats, home prices, building permit numbers, lending information, construction pointers and give you hints on renovations that will give you a return on your investment. There is plenty going on in the real estate industry and the construction industry and we want to share some fantastic, cool and groovy information with you. We are going to use our insight, local expertise and share to help you save time, money and surmount obstacles of all kinds. So, snuggle up and enjoy.
SANDY: Heidi, there is a lot of remodeling taking place in our community. When a home goes on the market, do you share and make recommendations of possible improvements that should be made prior to listing the home?
HEIDI: Yes, as a real estate professional, it is important that we help our client earn the best return possible on their home. Sandy, as you know, not all home improvements are shaped equally.
SANDY: Heidi, so you are saying if a home needs a new coat of fresh paint, to be careful and shy away from that dash and splash of hip color of dazzling red. A homeowner should probably slow down and decide how much they are willing to invest on improvements and upgrades before splashing the color.
HEIDI: Sandy, I get you like red and so do I; however, that is one color that does not fit all personalities like ours. So, an accent wall is okay, but not an entire room. I am seeing more muted/neutral colors in home repaint such as beige and gray. Those are safe colors and go with anything and a new coat of paint makes a home feel clean and modern and will deliver one of the highest returns on investment when it comes to home upgrades for resale.
SANDY: Okay, Heidi, I promise no red walls, what about installing new countertops? Is that an investment that can make a difference? I am receiving calls weekly from homeowners that want to remodel their kitchen. I am sure to remodel for a dream kitchen that is displayed all over Pinterest is not a remodel that will be a ROI for resale.
HEIDI: Sandy, as you know, sometimes a minor kitchen remodel — one that keeps a cover on costs, such as replacing the kitchen sink or faucets, possibly new flooring, paint and countertops (if laminate) are ever-popular and can add a return on the sales price.
SANDY: Being in the construction industry, which by the way, is fabulous, and I know Heidi, you love your industry as well, the ROI on a kitchen update is relatively modest and a homeowner can expect a return of 67 percent on the cost of a kitchen upgrade. Another reminder it is important when remodeling your kitchen for resale, stick with traditional materials and appliances.
HEIDI: It is important to say that potential buyers care about improvements. Just remember that if the roof is leaking, buyers won’t get beyond that and they will not care how awesome the kitchen is.
SANDY: Replacing windows and roofs are high on the ROI list for resale homes as well. This improvement can return approximately 80 percent or more at resale. And let’s not forget to organize, organize, organize and declutter, declutter, declutter prior to listing your home for sale.
HEIDI and SANDY: From both of us, if you’re thinking about dropping some money into home improvement projects for resale, keep a few things in mind. What you’ll get back on your investment depends on the value of your house, the value of houses in your immediate neighborhood, the housing market where you live, how soon you sell after making improvements, and the quality of the project itself. Installing a $10,000 stove in a $200,000 house, for example, just doesn’t compute. Nor does it make sense to update your kitchen if your house is the only house in the neighborhood with just one bathroom.
SANDY: Another important factor when deciding what improvements to make for resale be sure to put home maintenance, such as new siding, high on the list and curb appeal. If people drive by your home and are not impressed, they’re not going to walk inside.
HEIDI: If I were going to spend money on a property, I would really work on making sure the curb appeal is strong. It is important to convey a sense of welcome. If all of your remodeling is on the inside but the outside of the house is challenging, you’ll never have a chance to even show the inside.
HEIDI: One caveat: Don’t add on so much that you price your house right out of the neighborhood. You don’t want to be overpriced for the neighborhood area.
Thanks for stopping in “At Home with Heidi and Sandy.” You’re in good company. Heidi Marshall, Associate Broker, SRES, ABR, CFS, Realtor with Windermere. You can reach Heidi at 928-830-2320. Sandy Griffis, Executive Director,
Yavapai County Contractors Association. You can reach Sandy at 928-778-0040.
And remember, if you trust someone to tear down walls, install cabinets, flooring & countertops and changing out plumbing, windows and doors, and anything else to improve your home, please hire someone who is not only trustworthy, but also licensed and reliable and will be there from start to finish. Next month, we will talk about the importance of permits for any remodeling/improvement project and how it can affect the sale of a home if there is no permit on record.
By Sandy Griffis and Heidi Marshall
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