{"id":12149,"date":"2019-04-20T11:11:48","date_gmt":"2019-04-20T18:11:48","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=12149"},"modified":"2019-04-12T08:53:39","modified_gmt":"2019-04-12T15:53:39","slug":"which-renovations-deliver-the-biggest-payoff","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/04\/which-renovations-deliver-the-biggest-payoff\/","title":{"rendered":"Which Renovations Deliver The Biggest Payoff?"},"content":{"rendered":"<p style=\"text-align: justify;\">Home shopping season is quickly approaching, which means home sellers are busy cleaning, painting, decluttering, landscaping and deciding which other projects might reap the greatest reward given limited time and money. Their best bet \u2013 once the curb appeal projects are done, tackle the bathrooms.<\/p>\n<p style=\"text-align: justify;\">The typical seller has 13 years\u2019 worth of wear and tear on their home, and that can make it tough to know where to start. But most of them do, with sellers averaging 2.2 renovations or improvements to prepare to sell their home, with 79 percent making at least one, according to Zillow data. And there\u2019s good reason to do that, with nearly a quarter of sellers who make improvements sell above list price, compared with 16 percent of sellers who don\u2019t.<\/p>\n<p style=\"text-align: justify;\">The key is making smart decisions about what to upgrade, because home-improvement projects don\u2019t necessarily pay for themselves \u2014 and some improvements actually cost more than they return in value. To help homeowners who are preparing to\/thinking about selling their home, Zillow analyzed the return on a variety of projects and put together some tips to maximize return and minimize headaches.<\/p>\n<p style=\"text-align: justify;\">A good rule of thumb: A smaller, inexpensive upgrade typically brings a bigger reward than a more involved and time-consuming one.<\/p>\n<p style=\"text-align: justify;\">Here are a few items on Zillow\u2019s \u201cDo\u201d list for sellers looking to pocket the biggest payoff :<\/p>\n<p style=\"text-align: justify;\">\u25fe Dive into the \u201ccurb appeal\u201d projects first, and do them smartly \u2014 New paint inside and out and basic landscaping and yard care typically runs about $3,000, according to recent research by Zillow and Thumbtack, and are typically the most common and necessary improvements. And choosing the right eye-catching colors can increase a home\u2019s value far beyond just the appeal of new paint. A recent Zillow analysis found that yellow homes sell for nearly $3,500 less than expected, while the right color door can lead to an extra $6,000 in a seller\u2019s pocket.<\/p>\n<p style=\"text-align: justify;\">\u25fe Upgrade the bathrooms (but not too much) \u2014 A mid-range bathroom remodel \u2014 replacing the toilet, tub and light fixtures, adding a double sink, tiling the floor and hanging some wallpaper \u2014 typically results in a $1.71 increase in home value for every dollar spent, if the bathroom is at least 25 years old. But an upscale bathroom remodel \u2014 top-end features, full-body-wash shower wall, bidet \u2014 will actually cost a seller, adding 87 cents of home value for every dollar spent.<\/p>\n<p style=\"text-align: justify;\">\u25fe Install new windows \u2014 New mid-range windows can return $1.15 for every dollar, but get too fancy and you\u2019ll end up breaking even.<\/p>\n<p style=\"text-align: justify;\">\u25fe Pay attention to current design trends \u2014 Warm modernism and organic accents are in, bold colors and an overtly rustic feel are out.<\/p>\n<p style=\"text-align: justify;\">And some important \u201cDon\u2019ts\u201d :<\/p>\n<p style=\"text-align: justify;\">\u25fe Focus on the kitchen \u2014 Kitchen renovations, at any level, are among the worst return on investment of the home improvements we studied, at about 50 cents on the dollar. Part of the reason is that the kitchen is one of the few rooms in a house where different people want different utility. You could spend $30,000 renovating a kitchen only to turn off some potential buyers who would have done it differently.<\/p>\n<p style=\"text-align: justify;\">\u25fe Bother with the basement \u2014 The only renovation that paid off worse than a kitchen remodel was finishing a basement, at a bit less than 50 cents on the dollar, even if you add a bathroom.<\/p>\n<p style=\"text-align: justify;\">\u201cIf you\u2019re fixing up your home to appeal to a variety of potential buyers, go for changes that have a broad appeal,\u201d said Skylar Olsen, Zillow\u2019s director of economic research. \u201cFresh paint in the new \u2018it\u2019 neutral signals a well-maintained home, and most people can imagine their own furniture matching the walls. A luxury chef\u2019s kitchen won\u2019t matter to the majority of folks who can\u2019t call themselves a good cook and just eat out often anyway. Sometimes the basement is best for storage. Start small and seek expert advice.\u201d<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/realtybiznews.com\/zillow-reveals-which-renovations-deliver-the-most-bang-for-your-buck\/98753632\/\" target=\"_blank\" rel=\"noopener noreferrer\">Zillow Reveals Which Renovations Deliver The Most Bang for Your Buck<\/a> by Mike Wheatley | Realty Biz News<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Home shopping season is quickly approaching, which means home sellers are busy cleaning, painting, decluttering, landscaping and deciding which other projects might reap the greatest reward given limited time and &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/04\/which-renovations-deliver-the-biggest-payoff\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-12149","post","type-post","status-publish","format-standard","hentry","category-home-lifestyle"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Which Renovations Deliver The Biggest Payoff? 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