How to Sell Your Home Quicker and For More Money in NJ
Hundreds of billions of dollars are expected to be spent by Americans in 2016 on home remodeling and repairs. But how many of those dollars can be recouped in the long run?
In a new report from the National Association of Realtors, 35 percent of homeowners said they would rather move to another home than remodel their current living quarters.
But it may be worth the trouble to complete certain projects inside the home, especially if you plan on selling one day.
According to Randi Dickman, broker associate for Re/Max Signature Properties, certain home projects have the potential to make your home sell quicker and for more money.
While you'll most likely never fully recoup the cash you put out for the renovations, she said, they could save some time and aggravation when it's time to sell.
"The kitchen and bath are the most important upgrades in the house," said Dickman, who handles properties in Monmouth, Ocean and Middlesex counties.
She's seen plenty of deals clinched thanks to an upgraded kitchen or remodeled bathrooms. Stainless steel appliances, along with a new countertop and cabinets, give potential buyers the "fresh" look they're seeking.
"You'll recoup, on a kitchen, 60 to 70 percent," Dickman said. "Same thing on bathrooms."
Hardwood floors are another solid selling point, Dickman noted. She's been in the business for 17 years and has seen more concerns lately from parents of kids with allergies.
And a fresh paint job, while a relatively simple task, can do wonders for the look and feel of your home, she added.
The NAR analysis took the pulse of real estate agents nationwide to see which home projects are likely to attract buyers and add value to the home when it's eventually put on the market.
Fifty-seven percent of Realtors suggested sellers complete a kitchen upgrade before attempting to sell. Forty-five percent had the same opinion of bathroom renovations.