Ask Eli: Should You Remodel Before Selling? – ARL now

This regularly-scheduled sponsored Q&A column is written by Eli Tucker, Arlington-based Realtor and Rosslyn resident. Please submit your questions to him via email for response in future columns. Enjoy!

Question: Im preparing to sell my home this year and wondering if remodeling the 1990s kitchen and bathrooms will improve the resale value and help me sell faster or if I should leave it as-is. Is there a good way to decide which option is best?

Answer: Yes, remodeling your 1990s kitchen and bathroom will improve the resale value and probably help the home sell faster, but thats not the right question to ask. The question you need answered is what updates will create a positive Return on Investment (ROI), meaning that every dollar you spend on updates results in an increase in expected sale price of at least one dollar. For many sellers, this is the most valuable advice your real estate agent can provide.

Avoid Most Remodeling Projects

Simply put, most remodeling projects do not return a positive ROI for homeowners. A number of large companies including Zillow and Remodeling Magazine have conducted extensive studies and determined that most large-scale remodeling projects like bathrooms, kitchens, roofs, additions, etc only return about 50-80 percent of their cost on the resale market. Remodeling Magazine updates their Cost vs. Value statistics every year using regional data and has a great report specific to the DC Metro area.

No Simple Answer

But Ill Try

Here are some tips and principles I find myself using most-often when advising homeowners on pre-sale updates:

Strategically investing in pre-listing updates should be a well thought out process with different options priced out next to projected impact to sale price and speed of sale. For many homeowners, this process can take upwards of 3-6 months from planning through project completion before being ready to sell, so start early and invest wisely! Feel free to reach out to me at [emailprotected] or (703) 539-2529 if youre thinking about selling your home and want an opinion on the most effective way of investing in pre-listing updates!

If youd like a question answered in my weekly column, please send an email to [emailprotected]. To read any of my older posts, visit the blog section of my website at http://www.RealtyDCMetro.com.

Eli Tucker is a licensed Realtor in Virginia, Washington DC, and Maryland with Real Living At Home, 2420 Wilson Blvd #101 Arlington, VA 22201, (202) 518-8781.

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Ask Eli: Should You Remodel Before Selling? - ARL now