Real Estate Resources
Renovations that Add Value
Although the DC area has largely been spared the painful market corrections that have affected most of the rest of the nation, it is always wise to keep a balanced perspective about our local real estate values and how renovations may tip the equity scale when it comes time to sell. Updated kitchens and beautiful, functional bathrooms still rank high on the list of renovations that lure home buyers, but the softer housing market may be here for a while. Smart homeowners should carefully consider any projects so that they optimize their lifestyle while living in the home and get an attractive return on their renovation investment when they sell.
If you are considering a home renovation, make sure you conduct a cost analysis of your remodeling budget that includes a careful look at the real estate trends and your particular neighborhood values. A $50,000 kitchen renovation in a home currently valued at $300,000 might enhance your enjoyment of it while you live there, but may not make sense if you are thinking about selling soon.
DC AREA BUYERS TODAY: LOOKING FOR A GREAT HOUSE OR A GREAT PRICE
In the greater DC area, most buyers are looking for turn-key purchases, and the popularity of television shows on HGTV and The Discovery Channel have empowered them with their own design sense.
Granite counter tops, once considered a luxury amenity, are now considered standard in updated kitchens.
Spurred on by low interest rates, many buyers would rather move into a mint-condition space they can finance than spend out-of-pocket money to renovate it themselves.
Obviously, there are some buyers focused more on “the deal” than the glitz and glamour of a renovated home, but owners who are selling a home with original features and fixtures are wise to do at least some minimal staging to get top dollar.
More Metro DC Home Selling Tips Are Just a Call Away!
Contact us at The Rozansky Group to learn even more useful home selling tips that will aid you in getting top dollar for your property. We would be more than happy to help you at every stage of the process!