Sellers areadvised not to spend more than 10%of their propertys value on remodeling a kitchen if the investment is to be worthwhile. However, sincethe kitchen is the most important roomwhen it comes to selling a residential property, some refurbishment is often a good idea, and a new kitchen can help increase interest in the property, as well as raising the homes value. If a client is unsure how much remodeling is appropriate for their property, realtors can advise them in a few key areas.

Keep it open and bright

According toa survey by NAHB, 86% of buyers would prefer an open plan kitchen and dining room: the trend towards open plan living spaces continues to be strong. Particularly in older homes where rooms are small, knocking down walls to create an open floor plan can be a good strategy in increasing a propertys value.

Potential buyers are drawn to open, bright spaces in which they can envisage entertaining without being away from their guests. Allowing light to filter in from the living areas creates a bright appealing space, with rugs and furniture placement used to mark different areas of the space. A kitchen island is a good addition in this case: it allows for maximum work space and provides a focal point in the kitchen area. Under-cabinet lighting can make the space seem more inviting, and further demarcates the kitchen space.

Modernize appliances

Stylish new appliances can make the whole kitchen seem more modern, and even if the seller plans to take some of these with them when they move, they can make potential buyersbelieve the home is a good investment. This is particularly important for built-in appliances that will remain in the property once the sale has gone through, so sellers planning to remodel should be advised to consider ultra-modern updates like induction cooktops. These have the added appeal of being more energy efficient, which is a further draw to potential buyers. If you advise clients to change their appliances, however, encourage them to learn how to keep themperforming at their optimum levelso theyre in top condition for the new owners.

The appeal of convenience

Buyers are looking for maximum storage and clever uses of space. Sellers should be encouraged to install islands with built-in cupboards and drawers that utilize space efficiently. Wasted space can be filled with extra drawers, and cupboards can be utilized to their maximum potential if a Lazy Susan is included in the design. Encourage sellers to make use of all the space in any new kitchen design: buyers will be drawn to convenience.

Many sellers look for guidance when remodeling their homes for resale. By keeping up to date with what potential buyers will be drawn towards, realtors can guide them to get the most return for their investment.

Photo by Sidekix Media on Unsplash

See original here:
Open And Modern: Guiding Clients Toward The Most Lucrative Kitchen Renovations - RealtyBizNews: Real Estate News - RealtyBizNews

The term value-add appears to be trending everywhere you turn. Understanding what that concept really entails is crucial to establishing sound projections and return on investment for any multifamily investment (and for the vast majority of other types of deals). Just as important is understanding what not to get to hung up on and realizing what will maximize your dollars.

You have run all your critical numbers, and the deal looks good. You're happy with the price and the loan, and your due diligence has come back clean enough to start considering your value-add opportunities. Where to start? The following are some sound value-add practices to consider, as well as a few that multifamily investors may want to avoid.

Interior

There is nothing like a fresh coat of paint to change the entire feel of a property. Brighten up as many areas of the unit as you can, and consider adding an accent wall or two. Paint is one of the cheapest components of any value-add project and can bring a major appeal to the property. From reviving dated schemes to bringing light to dingy and dark hallways, focusing on your paint makes a big impact.

Flooring is the next major interior value-add item you should prepare to invest in. Whether its carpet, tile, wood or laminate, having clean and uniform flooring helps bring the interior of a property together. If your budget permits, remodeling your kitchen or bathrooms in addition to painting and upgrading flooring is the ideal objective to maximize your values and raise your rents.

If after the paint and flooring you are tight on capital, make sure all electrical outlets and light switches are new and uniform, and change out all the hardware (doorknobs, hinges, locks, drawer and cabinet hardware, etc.). These touches go a really long way visually and economically.

Exterior And Curb Appeal

How high this is on the list may surprise people, but no matter how new, modern or warm and fuzzy you think your interior is, without an attractive exterior and clean curb appeal, you risk not maximizing your value-adds. Painting and rebranding a building can go a long way. A long-standing perception of a property can be quickly changed by just repainting or changing the faade, and this can bring in a whole other market or tap into an existing market that was just looking for some modern touches.

Landscaping also plays an important role. If youre in a climate where water is not scarce and that is conducive to green and lush landscaping, then by all means, make sure you take that opportunity. Colors and attractive plants add life and beauty to any community and draw in positive attention. If you are limited to a dryer climate or a denser urban area, focus on a clean xeriscape or creative art dcor, such as mural paintings or artificial replicas (artificial turf, bark, industrial metal art, etc.) as strong alternatives.

Security And Cleanliness

At the end of the day, most tenants want a clean, safe and secure community to live in. Do not minimize this value-add opportunity. Functional security gates, fencing, covered or gated parking, and patrolling security are huge value-adds.

As well as budgeting for regular interior cleaning, landscaping, pest control and other detailed items must be top of mind. When tenants feel they have all of these items as a standard part of their community, the likelihood of lease renewals tends to increase, and this demand leads to justifying consistent rent increases. Both the tenant and owner win when all of these items are factored into the value-add formulas.

What To Avoid

When making decisions in the value-add process, it's easy to get carried away. Making sure you keep things functional and as impersonal as possible is key. Its not to say there is anything wrong with adding some of your style or preferences to the procedure; just make sure its within the budget and not something impractical. Examples of that could be installing granite countertops when resurfacing would suffice, or replacing cabinets when repainting and adding new hardware would suit the situation.

Each property and each situation is different, but the faster you realize that there is only so much money you can squeeze out of certain value-add situations, the better your chances to maximize your bottom line.

The last thing any value-add analysis should be is a shortcut. This type of approach is bad practice and, in the long term, causes many more issues for both owners and tenants alike. If you are looking at an investment that has you spread too thin, rather than cut corners, it is much better for you to focus on what you can allocate the right way. It also may be a clear indicator that this particular investment is over your ability. The liabilities for misrepresentation are quite severe, and the consequences of subpar work to save a dollar could end up costing you much more.

Value-add is a key ingredient to every investor's strategy when evaluating multifamily properties. Ensuring the improvements are in line with the price, demographics and location is key. Also key is knowing when to take your foot off the gas while spending. Although there is no formula to a successful value-add outcome, using common sense and applying quality work is a step in the right direction during this phase.

Excerpt from:
Where To Add Value In Your Multifamily Investment - Forbes

When Somia Mourad first walked into the Minneapolis home that she would buy, she saw dark-stained oak woodwork mixed with white woodwork on much of the main level. In the kitchen, three different wood finishes fragmented the space.

The house had clearly gone through a ton of renovations, Mourad said. Though the work had been done with care and had been maintained well, she wanted a more cohesive look. So even before she, her husband, Keith Bush, and their two daughters moved into the 1891 three-story, painters were summoned. The fireplace mantel, centerpiece of a gracious living room, went from a dark oak stain to white enameled paint so that it would match the shelves on either side, which were already white. Beams in the ceiling got the same treatment. Wood panels in the dining room, which is open to the living room, also got coats of white paint.

Like many of todays home buyers, Mourad and Bush prefer the sleek, clean look of white enameled woodwork. But their experience also speaks to the conundrum of sellers considering whether to paint their woodwork in order to sell a house more quickly. Many buyers are seeking a move-in-ready home that reflects the modern aesthetic of clean white woodwork. But some homes, especially Craftsmans and Victorians, can dazzle with stained wood.

Mourad said she fell for her house the moment they walked in and saw the wood door that led to an entryway with delicately detailed woodwork.

The entryway was so warm just stunning with intricate carvings on the wood banister at the staircase; I didnt want anyone to touch it, Mourad recalled. She kept that nod to the history of the home, even as the painters set to work on other parts of the house.

Sometimes a home shows best when it remains true to character. The oak beams and other wood accents of Craftsman-style bungalows, for example, help make those homes distinct.

You wouldnt change the color of a classic car, even if its a little funky, and sometimes you shouldnt paint the woodwork of a house, said Ruth Whitney Bowe, a real estate agent with Coldwell Banker Burnets Minneapolis Lakes office.

In midcentury modern homes, wood paneling and other details can warm up the clean lines. In Victorians, intricate woodwork can speak to the homes original era and can also be expensive to paint.

In addition to the style of the home, competition is another factor.

If a home is in an area surrounded by other homes with wood cabinets in the kitchens, there may be no need to turn the woodwork white, Bowe said. But most often, white woodwork helps a house sell.

Jayne Morrison of Morrison Interiors in Plymouth, Minnesota, is a designer and stager who helps people ready their homes for the marketplace.

Millennial buyers want white woodwork, she said. If we are staging for a young family in a neighborhood of young families, it is advisable to have woodwork painted white.

Thats especially so for owners of homes built in the 1980s with the golden oak woodwork that was popular during that era.

If you are in a 1980s house and you have a lot of that golden oak woodwork, [painting it white] will help sell your house faster, she said.

Morrison is seeing a generational shift as she works with homeowners on design.

Baby boomers love woodwork, she said. Millennial clients say they want an estimate for painting everything white. It is quite pricey, but often they go ahead and do it. They want that total white woodwork look.

Whether it is sellers or new homeowners hoping to create a space they adore, the decision to paint is often based on that bad word that starts with b: budget, Morrison said. When clients decide to do the painting themselves to save money, she suggests they start in one room and see how it goes before tackling the entire house.

Painted woodwork is a fresh look, she notes, and its been going strong since 2010. In recent years, she has seen the white warming up a bit, shifting to warm gray.

When Mourad got around to remodeling her kitchen and ridding the space of three different wood finishes, in fact, a designer suggested that she paint the center island gray to contrast with the white paint elsewhere in the kitchen and the home. Mourad declined, preferring to keep the look cohesive. Plus, she said, I knew I would never tire of white.

And she hasnt. Now when I walk into the house, I feel peaceful, uplifted, happy. There is a lightness and a calm, she said. It is amazing how much woodwork impacts the feel of a home.

More:
Should you paint the woodwork white? Opinions vary among owners, experts - Seattle Times

You spent the holidays binging on HGTV, and now visions of shiplap accent walls and freestanding soaking tubs are dancing through your head.

Dont let your desire to upgrade your home downgrade your homes market value. Before you make a renovation fantasy a reality, consider whether the project will pay off when youre ready to sell. Plenty of home improvements add value, but others like these five can hurt it.

1. A chef-quality kitchen

If you love to cook, a high-end kitchen could be the ultimate gift for you. But if you think a massive overhaul will majorly impact resale value, you might be in for a surprise. An upscale kitchen renovation recoups just 54% of its cost in added value, according to Remodeling magazines 2020 Cost vs. Value report.

If you do marble countertops and high-end appliances, you could spend $100,000, and it doesnt necessarily mean your house is worth an extra $100,000, says Beatrice de Jong, a consumer trends expert for Opendoor, a San Francisco-based direct home buyer and seller.

Smaller kitchen upgrades could yield a bigger payoff. Chris Arienti, broker and owner of Remax Executive Realty near Boston, suggests keeping updates reasonable: Think granite rather than marble, and GE instead of Sub-Zero.

2. Do-it-yourself painting

A bold statement wall can say the wrong thing to potential buyers if the workmanship is questionable. Streaky, chipped or low-quality paint can knock $1,700 off a homes sale price, according to Opendoor data that looked at home offers made from June 2018 to June 2019.

A good paint job is not easy, says Sarah Cunningham, a real estate agent with Ethos Design + Remodel in Boise, Idaho. It is all in the prep work, and most people dont want to do the prep work. Hiring a professional to paint can help ensure a more attractive result.

3. An expanded master suite

Knocking down a wall to create an oversize master bedroom or stealing closet space to build out a spa-style bathroom may sound dreamy. But how about as a selling point? If you go from five bedrooms to four, and you can make it work, no big deal, Arienti says. But he cautions that losing a bedroom in a smaller house could mean a lower selling price.

As for cutting into closet space, residential building codes dont mandate that bedrooms have closets. But, Arienti says, Once you take the closet out of a bedroom, to a buyer, that no longer looks like a bedroom.

4. Plush wall-to-wall carpeting

Carpet can be especially unattractive to first-time homebuyers, who may be used to landlords updating carpet between renters, de Jong says.

In general, people are grossed out by [carpeting]. It can make a room look a little bit dated.

It can also ding your sale price. Carpet as the primary flooring in a house drops the value by $3,900 and carpeting in the master bedroom causes a $3,800 plunge, according to Opendoor. Conversely, a 2019 report from the National Association of Realtors estimated that sellers could recoup the entire cost of refinishing hardwood floors. New wood flooring could actually add value, with sellers getting $1.06 for every dollar spent according to NAR.

5. A swimming pool

It doesnt matter if its infinity edge or above-ground: Any pool can be seen as a drawback by buyers who dont want to deal with maintenance or insurance. Even in Florida, a pool doesnt add value, Liede DeValdivielso, a real estate agent with the Keyes Company in Miami-Dade, said via email. If youre thinking resale, its not worth it youll never recoup the cost, DeValdivielso said. But if youll use it and enjoy it, put in a pool.

How to decide if a renovation is worth the cost

To ensure youre making an informed decision:

Consider your timeline. If youre going to be in the home for 30 years, you can do anything, because at that point, your mortgage is paid off, Arienti says. Looking to sell in the near future? Pay closer attention to whether your choices will appeal to a potential buyer.

Consult an expert. Talk to a professional so you arent making misinformed choices that are going to work against you in five to 10 years, Cunningham says. A designer can help you tell fleeting trends from future classics; a contractor can explain what kind of work a proposed renovation would entail.

Compare home features in your area. De Jong suggests looking at comparable homes for sale near you and going to open houses to make sure your improvements align with the norms for your neighborhood.

Get an appraisal. A licensed appraiser can do a feasibility study to estimate your homes current value and its likely value after the improvements.

This article was provided to The Associated Press by the personal finance website NerdWallet. Kate Wood is a writer at NerdWallet. Email: kwood@nerdwallet.com

RELATED LINKS

NerdWallet: Find out how much your home is really worth

NerdWallet: Tips for first-time home buyers

Original post:
5 home improvements that may not pay off when you sell - Seattle Times

(MENAFN - iCrowdNewsWire) Feb 18, 2020

WiseGuyReports.Com Publish a New Market Research Report On '' Home Remodeling Market 2020 Global Share,Trend,Segmentation And Forecast To 2026.

Home Remodeling Market 2020

Description: -

This report focuses on the global Home Remodeling status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Home Remodeling development in North America, Europe, China, Japan, Southeast Asia, India and Central & South America.

The global market of Home Remodeling produced a standard product that provides better services and quality performance to its users all over the world. Thousand number of manufactures of the product are existing, and some are have introduced newly to the world market. These manufacturers are committed to the improvement of product quality. It has been observed that technology always plays a most crucial role in the performance of the product, increasing the demand and market growth.

Get a Sample Report @ https://www.wiseguyreports.com/sample-request/4931902-global-home-remodeling-market-size-status-and-forecast-2020-2026

For more information or any query mail at [email protected]

Major Key Players Included are:-

Andersen CorporationABC Supply Co., Inc.Builders FirstSource Inc.Ferguson EnterprisesFranklin Building SupplyJELD-WENKohlerMasco CorporationPella CorporationThe Sherwin - Williams CompanyHarvey Building ProductsBMC Stock HoldingsNational Wholesale SupplyLu Kitchen & BathEnterprise WholesaleWebb Concrete & Building MaterialsAPCO IndustriesUnited Wholesale SupplyMayer Electric Supply CompanyWoodhill SupplyBeacon Roofing SupplyHD Supply HoldingsWatscoM S InternationalF. W. Webb CompanyKeller SupplyT & A Supply CompanyMac ArthurPacific Coast SupplyR.E. Michel Company

The innovation of new technology generates a great opportunity for key players and the large investors that are ready to pay for business development. In recent times, it is being noticed that some manufacturers are stick to the traditional procedure of making the product to reduce the cost of production. And many product manufacturers are considering a structural change on the part of producers of products to make it highly technical to reach success in the global market.

Market Dynamics of The Global Home Remodeling Market

The market dynamic is the collection of factors that has a very positive impact on the market. In this case, the global market economy depends on the supply chain, quality, demand, and price of the product. From the aspect of a business, the market dynamics are considered as the factors that affect the planned project, blueprint of the business model that involves in the market development. The key propeller that drives the market positively is the rapid increment in the demand for the product. The survey report of the product market of Home Remodeling is based on some crucial factors that collectively include growth opportunity, the status of the market, and profit to the future forecasting period, market leader, market size, and major market players.

Market Segments of The Global Home Remodeling Market

The market segmentation analysis is consisting of qualitative and quantitative research that comprises various aspects, including the impact of economic and non-economic issues. The geographical or regional report contains detailed information about the condition of the product market in a specific region, including the demand, supply chain, and market growth. The market is segmented by its market value and volume to describe the sub-segment pattern.

Industry News

The global market ofHome Remodeling is growing at a Compound Annual Growth Rate (CAGR) of XX%. It is currently witnessing the market growth of XX value and will generate revenue of more than its expectation in the year 2026. The global Home Remodeling market was recorded to be moving at a higher positive side during the forecast period, which is termed as 2020- 2026. The product market in the developing countries has been seen to witness the highest growth, expecting to gain a significant market share and has the highest number of the regional market and the maximum number of manufacturers.

Enquiry About Report @ https://www.wiseguyreports.com/enquiry/4931902-global-home-remodeling-market-size-status-and-forecast-2020-2026

Table of Contents Major Key Points

1 Report Overview

2 Global Growth Trends by Regions

3 Competition Landscape by Key Players

4 Breakdown Data by Type (2015-2026)

5 Home Remodeling Breakdown Data by Application (2015-2026)

6 North America

7 Europe

8 China

Continued.

ABOUT US:

Wise Guy Reportsis part of the Wise Guy Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe. Wise Guy Reports features an exhaustive list of market research reports from hundreds of publishers worldwide. We boast a database spanning virtually every market category and an even more comprehensive collection of market research reports under these categories and sub-categories.

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The rest is here:
Home Remodeling Market 2020 Global Share,Trend,Segmentation And Forecast To 2026 - MENAFN.COM

Kitchen Remodeling Los Angeles has been awarded the best kitchen designers in LA.

This press release was orginally distributed by SBWire

Los Angeles, CA -- (SBWIRE) -- 02/14/2020 -- KRLA has been dubbed as the best kitchen designers in LA. From redecorating to remodeling kitchens, professionals from this organization are the best people to handle any such task.

Kitchen Remodeling Los Angeles was trying to become the best company in this industry for a long time. After the official news was announced the company expressed their joy through a statement made by board of members. The CEO of this organization stated, "Everyone associated with our company worked hard to reach this spot. Finally being here gives us ample satisfaction."

Also, it was mentioned that this company owe their success to their loyal clients and hardworking professionals who helped in achieving this dream. Moreover, they explained that this is just the start of this company's journey of winning awards and completing accomplishments that was set as goals when it was started.

Since they have become the best Los Angeles kitchen remodel firm, their next goal is to become the best in the entire nation. However, according to various sources, for now they will just enjoy this accomplishment and move slowly towards their next goal.

So, people looking to get their kitchens remodel, knows whom to choose for their work.

About KRLA KRLA is a kitchen remodeling firm in Los Angeles. Recently, they received the award for being the best organization in this business sector.

Media ContactKitchen Remodeling Los Angeles Phone: 310-870-3304Address: 2424 Wilshire Blvd Los Angeles, CA-90057Email: info@kitchen-remodeling-los-angeles-ca.comWebsite: http://kitchen-remodeling-los-angeles-ca.com/

For more information on this press release visit: http://www.sbwire.com/press-releases/kitchen-remodeling-los-angeles-won-best-company-award-in-this-industry-1276567.htm

Read this article:
Kitchen Remodeling Los Angeles Won Best Company Award in This Industry - Press Release - Digital Journal

You spent the holidays binging on HGTV, and now visions of shiplap accent walls and freestanding soaking tubs are dancing through your head.

Don't let your desire to upgrade your home downgrade your home's market value. Before you make a renovation fantasy a reality, consider whether the project will pay off when you're ready to sell. Plenty of home improvements add value, but others like these five can hurt it.

1. A CHEF-QUALITY KITCHEN

If you love to cook, a high-end kitchen could be the ultimate gift for you. But if you think a massive overhaul will majorly impact resale value, you might be in for a surprise. An upscale kitchen renovation recoups just 54% of its cost in added value, according to Remodeling magazine's 2020 Cost vs. Value report.

"If you do marble countertops and high-end appliances, you could spend $100,000, and it doesn't necessarily mean your house is worth an extra $100,000," says Beatrice de Jong, a consumer trends expert for Opendoor, a San Francisco-based direct home buyer and seller.

Smaller kitchen upgrades could yield a bigger payoff. Chris Arienti, broker and owner of Remax Executive Realty near Boston, suggests keeping updates reasonable: Think granite rather than marble, and GE instead of Sub-Zero.

2. DIY PAINTING

A bold statement wall can say the wrong thing to potential buyers if the workmanship is questionable. Streaky, chipped or low-quality paint can knock $1,700 off a home's sale price, according to Opendoor data that looked at home offers made from June 2018 to June 2019.

"A good paint job is not easy," says Sarah Cunningham, a real estate agent with Ethos Design + Remodel in Boise, Idaho. "It is all in the prep work, and most people don't want to do the prep work." Hiring a professional to paint can help ensure a more attractive result.

3. AN EXPANDED MASTER SUITE

Knocking down a wall to create an oversize master bedroom or stealing closet space to build out a spa-style bathroom may sound dreamy. But how about as a selling point? "If you go from five bedrooms to four, and you can make it work, no big deal," Arienti says. But he cautions that losing a bedroom in a smaller house could mean a lower selling price.

As for cutting into closet space, residential building codes don't mandate that bedrooms have closets. But, Arienti says, "Once you take the closet out of a bedroom, to a buyer, that no longer looks like a bedroom."

4. PLUSH WALL-TO-WALL CARPETING

Carpet can be especially unattractive to first-time home buyers, who may be used to landlords updating carpet between renters, de Jong says.

"In general, people are grossed out by (carpeting). It can make a room look a little bit dated."

It can also ding your sale price. Carpet as the primary flooring in a house drops the value by $3,900 and carpeting in the master bedroom causes a $3,800 plunge, according to Opendoor. Conversely, a 2019 report from the National Association of Realtors estimated that sellers could recoup the entire cost of refinishing hardwood floors. New wood flooring could actually add value, with sellers getting $1.06 for every dollar spent according to NAR.

5. A SWIMMING POOL

It doesn't matter if it's infinity edge or above-ground: Any pool can be seen as a drawback by buyers who don't want to deal with maintenance or insurance. Even in Florida, a pool doesn't add value, Liede DeValdivielso, a real estate agent with the Keyes Company in Miami-Dade, said via email. If you're thinking resale, it's not worth it you'll never recoup the cost, DeValdivielso said. But if you'll use it and enjoy it, put in a pool.

HOW TO DECIDE IF A RENOVATION IS WORTH THE COST

To ensure you're making an informed decision:

CONSIDER YOUR TIMELINE. "If you're going to be in the home for 30 years, you can do anything, because at that point, your mortgage is paid off," Arienti says. Looking to sell in the near future? Pay closer attention to whether your choices will appeal to a potential buyer.

CONSULT AN EXPERT. "Talk to a professional so you aren't making misinformed choices that are going to work against you in five to 10 years," Cunningham says. A designer can help you tell fleeting trends from future classics; a contractor can explain what kind of work a proposed renovation would entail.

COMPARE HOME FEATURES IN YOUR AREA. De Jong suggests looking at comparable homes for sale near you and going to open houses to make sure your improvements align with the norms for your neighborhood.

GET AN APPRAISAL. A licensed appraiser can do a feasibility study to estimate your home's current value and its likely value after the improvements.

___

This article was provided to The Associated Press by the personal finance website NerdWallet. Kate Wood is a writer at NerdWallet; email: kwood@nerdwallet.com.

Here is the original post:
Here are 5 home improvements that may not pay off when you sell - Chattanooga Times Free Press

Whether youre thinking about a bathroom update, kitchen overhaul or any other type of home improvement project, these tips from the experts at the National Association of the Remodeling Industry and eLivingtoday.com can help you get started.

Improving your home can be one of the most exciting projects to undertake. Start by setting realistic expectations, determining your goals and needs, finding inspiration and, perhaps most importantly, setting a budget.

You can improve your homes usability and increase its value with bathroom updates or a full renovation. Before you get started, think about these factors: the amount of space and storage you need, features that are important to you, sustainability concerns and accessibility considerations.

The kitchen serves as command-central for most homes and you can get the most enjoyment out of yours by making purposeful changes, reconsidering the physical space, re-evaluating your shopping style and choosing appliances with care.

If its time for a serious undertaking, a full-blown remodel may be necessary (or simply desired). Remodeling typically calls for hiring a professional contractor, a process you can go about by gathering local recommendations, asking for licensing and insurance, checking references and comparing bids.

Find more home improvement ideas and solutions at remodelingdoneright.com and eLivingtoday.com.

Family Features

Related

Read the original post:
Change up your home interior with these ideas from the remodeling experts - Mountain Democrat

You spent the holidays binging on HGTV, and now visions of shiplap accent walls and freestanding soaking tubs are dancing through your head.

Dont let your desire to upgrade your home downgrade your homes market value. Before you make a renovation fantasy a reality, consider whether the project will pay off when youre ready to sell. Plenty of home improvements add value, but others like these five can hurt it.

If you love to cook, a high-end kitchen could be the ultimate gift for you. But if you think a massive overhaul will majorly impact resale value, you might be in for a surprise. An upscale kitchen renovation recoups just 54% of its cost in added value, according to Remodeling magazines 2020 Cost vs. Value report.

If you do marble countertops and high-end appliances, you could spend $100,000, and it doesnt necessarily mean your house is worth an extra $100,000, says Beatrice de Jong, a consumer trends expert for Opendoor, a San Francisco-based direct home buyer and seller.

Smaller kitchen upgrades could yield a bigger payoff. Chris Arienti, broker and owner of Remax Executive Realty near Boston, suggests keeping updates reasonable: Think granite rather than marble, and GE instead of Sub-Zero.

A bold statement wall can say the wrong thing to potential buyers if the workmanship is questionable. Streaky, chipped or low-quality paint can knock $1,700 off a homes sale price, according to Opendoor data that looked at home offers made from June 2018 to June 2019.

A good paint job is not easy, says Sarah Cunningham, a real estate agent with Ethos Design + Remodel in Boise, Idaho. It is all in the prep work, and most people dont want to do the prep work. Hiring a professional to paint can help ensure a more attractive result.

Knocking down a wall to create an oversize master bedroom or stealing closet space to build out a spa-style bathroom may sound dreamy. But how about as a selling point? If you go from five bedrooms to four, and you can make it work, no big deal, Arienti says. But he cautions that losing a bedroom in a smaller house could mean a lower selling price.

As for cutting into closet space, residential building codes dont mandate that bedrooms have closets. But, Arienti says, Once you take the closet out of a bedroom, to a buyer, that no longer looks like a bedroom.

Carpet can be especially unattractive to first-time home buyers, who may be used to landlords updating carpet between renters, de Jong says.

In general, people are grossed out by (carpeting). It can make a room look a little bit dated.

It can also ding your sale price. Carpet as the primary flooring in a house drops the value by $3,900 and carpeting in the master bedroom causes a $3,800 plunge, according to Opendoor. Conversely, a 2019 report from the National Association of Realtors estimated that sellers could recoup the entire cost of refinishing hardwood floors. New wood flooring could actually add value, with sellers getting $1.06 for every dollar spent according to NAR.

It doesnt matter if its infinity edge or above-ground: Any pool can be seen as a drawback by buyers who dont want to deal with maintenance or insurance. Even in Florida, a pool doesnt add value, Liede DeValdivielso, a real estate agent with the Keyes Company in Miami-Dade, said via email. If youre thinking resale, its not worth it youll never recoup the cost, DeValdivielso said. But if youll use it and enjoy it, put in a pool.

To ensure youre making an informed decision:

CONSIDER YOUR TIMELINE. If youre going to be in the home for 30 years, you can do anything, because at that point, your mortgage is paid off, Arienti says. Looking to sell in the near future? Pay closer attention to whether your choices will appeal to a potential buyer.

CONSULT AN EXPERT. Talk to a professional so you arent making misinformed choices that are going to work against you in five to 10 years, Cunningham says. A designer can help you tell fleeting trends from future classics; a contractor can explain what kind of work a proposed renovation would entail.

COMPARE HOME FEATURES IN YOUR AREA. De Jong suggests looking at comparable homes for sale near you and going to open houses to make sure your improvements align with the norms for your neighborhood.

GET AN APPRAISAL. A licensed appraiser can do a feasibility study to estimate your homes current value and its likely value after the improvements.

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5 home improvements that may not pay off - GazetteNET

You spent the holidays binging on HGTV, and now visions of shiplap accent walls and freestanding soaking tubs are dancing through your head.

Dont let your desire to upgrade your home downgrade your home's market value. Before you make a renovation fantasy a reality, consider whether the project will pay off when you're ready to sell. Plenty of home improvements add value, but others like these five can hurt it.

1. A CHEF-QUALITY KITCHEN

If you love to cook, a high-end kitchen could be the ultimate gift for you. But if you think a massive overhaul will majorly impact resale value, you might be in for a surprise. An upscale kitchen renovation recoups just 54% of its cost in added value, according to Remodeling magazine's 2020 Cost vs. Value report.

"If you do marble countertops and high-end appliances, you could spend $100,000, and it doesn't necessarily mean your house is worth an extra $100,000," says Beatrice de Jong, a consumer trends expert for Opendoor, a San Francisco-based direct home buyer and seller.

Smaller kitchen upgrades could yield a bigger payoff. Chris Arienti, broker and owner of Remax Executive Realty near Boston, suggests keeping updates reasonable: Think granite rather than marble, and GE instead of Sub-Zero.

2. DIY PAINTING

A bold statement wall can say the wrong thing to potential buyers if the workmanship is questionable. Streaky, chipped or low-quality paint can knock $1,700 off a home's sale price, according to Opendoor data that looked at home offers made from June 2018 to June 2019.

"A good paint job is not easy," says Sarah Cunningham, a real estate agent with Ethos Design + Remodel in Boise, Idaho. "It is all in the prep work, and most people don't want to do the prep work." Hiring a professional to paint can help ensure a more attractive result.

3. AN EXPANDED MASTER SUITE

Knocking down a wall to create an oversize master bedroom or stealing closet space to build out a spa-style bathroom may sound dreamy. But how about as a selling point? "If you go from five bedrooms to four, and you can make it work, no big deal," Arienti says. But he cautions that losing a bedroom in a smaller house could mean a lower selling price.

As for cutting into closet space, residential building codes don't mandate that bedrooms have closets. But, Arienti says, "Once you take the closet out of a bedroom, to a buyer, that no longer looks like a bedroom."

4. PLUSH WALL-TO-WALL CARPETING

Carpet can be especially unattractive to first-time home buyers, who may be used to landlords updating carpet between renters, de Jong says.

"In general, people are grossed out by (carpeting). It can make a room look a little bit dated."

It can also ding your sale price. Carpet as the primary flooring in a house drops the value by $3,900 and carpeting in the master bedroom causes a $3,800 plunge, according to Opendoor. Conversely, a 2019 report from the National Association of Realtors estimated that sellers could recoup the entire cost of refinishing hardwood floors. New wood flooring could actually add value, with sellers getting $1.06 for every dollar spent according to NAR.

5. A SWIMMING POOL

It doesn't matter if it's infinity edge or above-ground: Any pool can be seen as a drawback by buyers who don't want to deal with maintenance or insurance. Even in Florida, a pool doesn't add value, Liede DeValdivielso, a real estate agent with the Keyes Company in Miami-Dade, said via email. If you're thinking resale, it's not worth it you'll never recoup the cost, DeValdivielso said. But if you'll use it and enjoy it, put in a pool.

HOW TO DECIDE IF A RENOVATION IS WORTH THE COST

To ensure youre making an informed decision:

CONSIDER YOUR TIMELINE. "If you're going to be in the home for 30 years, you can do anything, because at that point, your mortgage is paid off," Arienti says. Looking to sell in the near future? Pay closer attention to whether your choices will appeal to a potential buyer.

CONSULT AN EXPERT. "Talk to a professional so you aren't making misinformed choices that are going to work against you in five to 10 years," Cunningham says. A designer can help you tell fleeting trends from future classics; a contractor can explain what kind of work a proposed renovation would entail.

COMPARE HOME FEATURES IN YOUR AREA. De Jong suggests looking at comparable homes for sale near you and going to open houses to make sure your improvements align with the norms for your neighborhood.

GET AN APPRAISAL. A licensed appraiser can do a feasibility study to estimate your home's current value and its likely value after the improvements.

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This article was provided to The Associated Press by the personal finance website NerdWallet. Kate Wood is a writer at NerdWallet. Email: kwood@nerdwallet.com.

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5 home improvements that may not pay off when you sell - Minneapolis Star Tribune