3 Reasons You Should Be Remodeling Instead of Selling in Connecticut
Your home is your greatest investment. Remodeling is rewarding because it deepens your investment in your property and helps ensure that you can for more money when the time comes. Remodeling can also improve your quality of life at home, by making your house more comfortable, more beautiful to behold, and a more functional place to live.
For many homeowners, remodeling is better than relocating. Relocating is disruptive. A relocation can permanently change your life - and not always for the better. There are lots of reasons to consider remodeling instead of selling in Connecticut. See below, the benefits of remodeling and also remodeling projects that can improve your life at home - without the hassle of relocation.
1. Moving is Expensive
Moving.com has a handy online calculator that will estimate the cost of your move based on the size of your household and zip code. This calculator puts the cost of moving a 3 bedroom household with partial packing services within the city limits of New Haven, Connecticut at approximately $3,000-$4,000. You can find out the cost of your own move by checking out this online calculator, but remember--the expense of moving goes far beyond just movers and boxes. Consider the following:
- If you aren't able to sell your home immediately after buying a new one, you could have two mortgages for an indefinite period of time. If you sell your home before you're able to buy one, you may end up paying for temporary housing.
- Unless the property is exactly what you were hoping for, you could end up renovating your new property anyway.
- While packing and unpacking is taking place, moving sometimes requires families to spend extra money on conveniences like child-care and takeout. This means moving can be even more expensive than most people anticipate.
2. Moving Costs More Than Just Money
Moving is obviously monetarily expensive, but the non-monetary expenses of moving can be greater than the financial expense. Depending on the distance of the move, relocation can involve major, stressful upheavals like switching jobs or school districts. Moving can also involve leaving behind friends and family. For many people, the pressure that a move presents negates the benefits of moving.
3. Home Remodeling Offers Bigger Benefits
While home remodeling also has a cost, for many homeowners, the benefits and return on investment outweigh the price. Take into account the following:
- Home remodeling projects can improve quality of life by making a property more comfortable, energy-efficient, and desirable.
- Renovating a home allows you to customize your property to your specific desires and needs.
- Remodeling can help improve curb appeal, making it easier to sell later if you so wish.
- Many home renovations, like kitchen and bathroom remodels, in-law apartments, and deck additions, increase property value.
- Home remodeling is often less disruptive than moving.
Best Remodeling Projects Before Selling
Maybe you're planning to sell, but not for a year or two. Some home improvement projects can improve your life now while allowing you to sell your home for a higher price when you move.
Garage Door Upgrade
An old garage door can negatively impact your home's value, especially if it has some cosmetic challenges like dings, scratches, and dents. This might come as a surprise, but a well-chosen garage door can deliver a high rate of return for a relatively small investment. A new garage door so dramatically changes the appearance of your home that it might look like you remodeled the whole house!
A bathroom addition can be a valuable home improvement project if your home has only one bathroom. The trick is to sneak your bathroom into the existing footprint without adding a room onto the outside of the house.
A 4x5 half bath, for example, with a toilet and vanity, can be put in a closet or on the other side of a utility room without making major structural changes to your house. Work with a reputable contractor and tell them in advance that you'd like to keep costs low to get the biggest return on investment when you sell.
New Front Door
A new front door can have the same impact as a new garage door: it can change or enhance the character of your house without a big up-front investment. New front doors can also improve your home's energy efficiency, which is a bonus when you list your house for sale.
Fresh Coat of Paint
A new coat of paint inside your house is an affordable home improvement that can make your house look clean, spacious, and well-maintained - exactly what home buyers are looking for. If you're planning to sell soon, choose neutral colors.
What About Bigger Remodel Projects?
Some homeowners take on bigger remodel projects before moving out of their house - like a kitchen or bathroom remodel, for example. These projects can disrupt life at home for weeks.
You might find this kind of remodel worthwhile if the conditions in your house are negatively impacting your quality of life. If your sole goal is to improve the value of your house before moving out, there are easier and less costly ways to make this happen.
If you do decide to remodel your kitchen or bath before selling, some tips to get the biggest return on investment:
- Manage costs. Make as few changes as possible to keep your project affordable.
- Make cosmetic improvements. Cosmetic improvements go a long way with home buyers. You'll get a big bang for your buck by painting your cabinets and walls, updating the flooring, and by changing kitchen hardware.
- Keep it timeless. Trends can be off-putting to buyers, especially if the trend is on its way out when you finally sell your home.
Remodeling Instead of Selling in Connecticut? Get Started Soon
Remodeling takes a lot of time, so if you're hoping to enjoy your remodel before selling, it's best to get started with your remodel as soon as possible. For tips on finding the right contractor before your remodel, download our free guide on how to choose the right home remodeling contractor.
About Kevin Ahern
Kevin is the Co-Founder of Litchfield Builders, an award-winning, industry leader with a reputation for managing projects others shy away from. They are known for their high-quality work, customer service, and reliability and though still relatively small in size, Litchfield Builders now competes with some of the areas largest firms in both the residential and commercial arenas.