According to a study by HomeLight.com, in much of California, for example, after Spring, Autumn - and November in particular - is a good time to sell. This is really good news if you've just recently made the decision to sell and need to do some renovations first.
Not Every Reno Brings Good Returns
There is definitely a great deal of emphasis on renovation "ROI" among the home buying and remodeling experts. While there are a number of solid improvements that can - and often should - be made in any home going on the real estate market, not all of them will net a good return.
Each year, for the last 30 years, Remodeling magazine releases its annual Cost vs. Value report, which analyzes the national average cost for various upgrades, and the average value you might receive for it when you sell your home.
What is noteworthy for 2017 is that the value of higher-priced projects rose significantly over last year. According to the editor of Remodeling magazine, Craig Webb, this may indicate the healthier housing market. One thing to keep in mind when considering the top-rated renovation projects is that not every reno is needed nor even applies to every home.
Money Invested Does Not Always Bring a Higher Selling Price
So what are the best home remodeling projects for a homeowner looking to sell for the best price? Here is a short list of the top five projects based on the Remodeling magazine report:
1. Fiberglass Attic Insulation
Maybe not so surprisingly, this is the same top value earner as last year. The Remodeling magazine's report says this project recoups 108 percent of its cost for 2017. However, that's just the increase in the home's resale value. Another great reason to do this job - if you haven't got it already - is for energy savings.
The lower heating and cooling bills will help offset the average cost of $1,343, which will net you an additional average amount for your resale value of $1,446.
2. Steel Entry Door Replacement
Have you ever wanted a new, steel front door with glass panels in the top half? Well, for 2017 prospective home buyers, this seems to be a big deal. And the added value it brings for you almost pays for itself at resale. According to the annual report the average cost is $1,413 and adds an average resale value of $1,282. That's a healthy 90.7 percent of the cost recouped.
3. Minor Kitchen Remodel
Unlike last year where a new garage door was the third ranking best renovation investment, this year a small remodel of you kitchen can net you a nice increase in your home's resale value. In fact, the average cost of a small kitchen remodel is about $20,830. When you factor in an average resale value increase of $16,699, that's 80.2 percent of the investment recouped.
This reflects a minor remodel of a 200-square-foot kitchen including new countertops, refaced cabinets and energy-efficient appliances. Not a major renovation, to be sure, but more than enough to give your kitchen an updated look.
4. Two-Story Addition
While this is seen as a fairly complex project, if your home's structure (and building permits) allow for it, it can be a sizeable investment that adds 71.1 percent of your outlay to your home's resale value. In the scenario presented in the report, this project added a ground floor family room and a bedroom with a full bath on the second floor, and over 760 square feet of living space. Total average cost of $176,108 for an average resale value of $125,222 added.
5. Upscale Basement Remodel
Whether it's designed as a "man cave", family recreation lounge, or even a home theater space, a remodeled basement ranks in the top five investments that will bring you a respectable return when it's time to sell. As with the two-story addition, this type of renovation won't apply to every house since basements aren't common everywhere.
For an average cost $71,115 this project was based on a 20-by-30-foot entertainment area in the basement, with an under-counter refrigerator, a bar with a sink , and a small bathroom. For that you would get an average resale value of $49,768 and recoup 70 percent of your cost.
Spending on the Right Things With the Best ROI
It has been shown that every 1,000 square feet added to a home can increase the sale price by more than 30 percent, according to a study for the National Association of Realtors. The addition of attic bedrooms, family rooms and bedrooms can return from 60 to more than 80 percent of the money spent.
However, the home renovation project that reaps the least amount ROI tends to be the addition of a bathroom, at 56.2% . As a general rule of thumb investing in lower-cost projects can often bring you larger returns. This includes many of the more obvious, but often overlooked improvements such as paint, landscaping, and general "curb appeal" touches.
When It's Time Construction Debris Removal
One of the inevitable realities of any remodel or renovation is the need for continual clean up. One option is to rent a dumpster for collecting an disposing of any and all your project debris. And now you have the option of using mini-dumpster drop-off services from Junk King.
Homeowners can now rent and load these revolutionary Mini dumpster boxes. Equipped with special polycarbonate wheels, these driveway-friendly boxes will arrive on-site without causing damage to a driveway or property.
These rental boxes are great self-service dumpsters for work projects, home renovations and other types of cleanups. And the small size offers a dumpster that is compact, affordable and easy to use.
The affordable dumpster rental services feature an online booking system. Junk King will drop off the dumpster and arrange for it to be picked-up once filled. The materials will be sorted so the items can be reused, repurposed and recycled.
In addition to redirecting materials away from landfills, the services are insured to make certain nothing is lost or damaged. In terms of pricing, customers only pay for the space used.
It Always Pays to Choose Junk King
Whether you are reconstructing a home or preparing for a move, we provide our customers with the tools they need to clear away unwanted clutter. From a warm and friendly crew that will do the heavy lifting for you to a fleet of mini dumpsters that allow you to do it yourself.
Junk King's MINI dumpsters are easy, affordable and convenient. Rent a MINI today for your DIY project, cleanout, and disposal needs. Book online today by clicking the button below: