Many individuals decide to buy a home that is in need of some repairs. This allows them to customize their home to suit their needs and wants. Painting, putting in new kitchen cabinets or remodeling the bathroom can really make a place feel homey.
First time buyers often think of these changes, and forget about the cost that they will require. Remodeling can be quite pricy, and that is why it is important for buyers to consider remodeling cost so that they can budget for these changes.
There are several upgrades that a buyer can do to a home that will improve the looks, as well as the functionality. Changing out kitchen hardware, replacing door handles, installing new stair rails, and light switch covers are all cheap upgrades that can make a big impact. Updating light fixtures are another change that can continue to save you money throughout the year on your electric bill.
Middle Of The Road Upgrades
Updates that require you to hire help are usually more costly. They are considered middle of the road upgrades. When you involve professionals to do some of the upgrade work, they always add on a fee for their time and labor. Things such as a faucet usually range around a hundred dollars, and typically take about an hour to install. To get a better price estimate, you can ask your hired help what they charge per hour. Things such as painting can be done by a professional or by you. You can save a lot of money if you choose to do the painting yourself.
Pricy Home Upgrades
Areas that are a main focal point of the home may require you to choose pricy upgrades, such as the living room or kitchen. Counter tops, flooring and specialty tubs can all come with a large price tag. If you wish to make the home more energy efficient, these projects can become quite costly as well. Although, eco-friendly upgrades can be costly up front, they could potentially save you a lot of money on your monthly utility bills.
Upgrades That Will Increase The Resale Value
There are many low-budget upgrades that add value to the home. It’s always best to look at the upgrade and determine if it will increase the resale value in the future. It is best to stick with natural colors, because these are the type of changes future buyers will appreciate.
Expect The UnExpected
Prepare yourself for interruptions, as well as an added cost. When fixing up an older home, homeowners will often see an increase in cost, materials and time frame of the overall project. Many times, things such as asbestos, wiring issues or mold will be discovered during a project. These types of issues require immediate attention, causing delays in the original project, as well as an added cost.
If you are a home owner who is struggling with selling your home, or if the buyer continuously passes on making an offer because your home requires too many repairs, I can help. I buy homes and can offer you a quick sell option. Contact me today to go over all the details.