Metro Detroit home selling tips – biggest return on your remodeling dollar

If you are looking to sell your Metro Detroit home in the future what you do to it does affect the value.  Sometimes Michigan home owners do a remodeling project that reduces the value of the home.  They may love it buy it may lower the value.  One of the common ones is reducing a 3 bedroom home to a 2 bedroom home to make the master bedroom bigger.  It is very simple 2 bedroom homes are worth less because a larger family needs more bedrooms.  It is less desirable.

Metro Detroit remodeling

Metro Detroit remodeling

Every year the realtor magazine puts out what is the biggest return on your remodeling dollar.  Here is the top ten list.

Project    Return
Steel entry door 101.8%
Manufactured stone veneer 92.2%
Garage door replacement (midpriced) 88.5%
Fiber cement siding replacement 84.3%
Garage door replacement (upscale) 82.5%
Vinyl siding replacement 80.7%
Wood deck addition 80.5%
Minor kitchen remodel 79.3%
Wood window replacements 78.8%
Foam-backed siding replacement 77.6%

Remodeling and updating your home helps it sell.  It does not matter if it is a waterfront home on Fox Lake in Commerce or a home in a Canton Subdivision.  Michigan home buyers love updated homes.  They will sometimes over pay for a beautiful home and never even look at a fixer upper.  Many of todays home buyers do not want to wait for getting the money to remodel it themselves.  So if you are selling your Metro Detroit home you want to update the home so it will appeal to home buyers without breaking the bank.  It is simply….spend as little as possible to make the biggest impression so your home will sell for more money and quicker.  At least that is my goal as your realtor.  I want you to get top dollar and get your home sold quickly.

Northville condos

Kitchens are big too!

According to the 2015 Cost vs. Value report from the National Association of Realtors® and Remodeling Magazine the exterior of the home is where you are going to get the biggest return on your remodeling dollar.   I myself believe putting in Granite for todays Michigan home buyers will bring a big return on your remodeling dollar.

So whether it is a lake house on Crescent Lake in Waterford, a lake cottage on Lake Tyrone in Hartland, or a home in Rochester it does pay to update your home when selling it.    To get the remodeling results from our local area, you can visit the Realtor’s magazine’s Cost vs.Value page. Select the Michigan region and then you’ll see a list of metro areas in our region. You do have to share some personal information about your remodeling plans to get the local results.

I hope this helps on your next remodeling project.  When you are ready to sell give me a call.  I get results.

Russ Ravary

Your metro Detroit realtor

 

 

 

 

Posted in Foreclosures, investment properties, landlord, Lake homes, Michigan lakes & lake subdivisions, Seller Tips

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