Today eLocal.com, a portal to help consumers find businesses and services in their areas, published a preview of the results from their fourth Blog-Off, in which more than 50 home improvement experts answered the question: what remodeling projects have the best resale value? The following excerpts are from the top five comments.
Most Insightful: David Strum, ATD Remodel
“Surveys by both real estate agents and builders agree that over 70 percent of today’s buyers are looking for a ready-to-move-in home. For many, an out-of-date kitchen or master bath is the deciding factor between one home or another.”
David challenges people to look at resale value on a more fundamental level, carefully evaluating what they consider “value” and putting themselves in the shoes of a home buyer. Balance saving money with quality; “cheap” doesn’t equal “value.” Cheap usually means shoddy construction, unreliable materials, and poor visual design. By evaluating a project from the home buyer perspective, homeowners will get a better return on investment.
See the rest of David’s comment here.
Most Unique: Tanya Stock, Vida Verde Build
“We are now moving away from the standard ‘kitchen and bath’ response to looking at what overall improvements to home’s energy efficiency and performance. This means performing a Home Audit to find out where leaks and imbalances are…Finding ways to reduce the homes energy consumption (including water use) and its overall indoor air quality through technological and design improvements.
Both buyers and sellers will need to have demonstrated annual energy savings as a means of differentiating their property from those similar and through measurable means that could be the significant element that sets a home apart than just another granite counter top.”
See the rest of Tanya’s comment here.
Best Articulated Comment: Jason Ball, Jason Ball Interiors
“When I first meet potential clients, I always ask them the ‘how long do you plan on being in the home?’ question. If the time frame is longer than seven years, then I say they should make the home their home and not worry about resale. Less than this, and the conversation is very different—we focus on making the home look great but keeping the material costs down. Colors tend to be very neutral and we’ll decorate with color in the wall color and accessories.
More than anything, a home buyer wants to be able to walk into your home and feel they can move in right away and just live. There’s no hassle or headache.”
You can see the rest of Jason’s comment here.
Most Thought-Provoking: Valorie Hart, Visual Vamp
“I hate that people don’t just live in their homes for themselves and for the moment. The last years have brought about this whole mentality of buying a home with an eye on potential re-sale, and not for putting down roots. You should live in your house with the things you love…Marketing has caused this upturn in preparing a house for a buyer rather than making improvements and fixing up things for yourself, and enjoying them while you are living in your house.”
See the rest of Valorie’s comment here.
Best Advice: Lori Gilder, Diary of a Renovation
“If you want to spend your money wisely and make your renovation dollars work the best for you, having a home renovation strategy could potentially save you thousands. Determining how much to spend on those home improvement projects—or at least which ones will provide you with the greatest ROI—will require a little research on your part.
To really take a sneak peak into the renovation market, I highly recommend checking out Remodeling magazine’s annual Cost vs. Value report. It’s a fabulous resource where homeowners can compare national and regional averages for about 33 home remodeling and renovation projects in about 80 cities.”
See the rest of Lori’s comment here.
Bathroom remodels are great, but they might not sell your home. Photo by Michael Shopenn