Are You Better Off Selling or Remodeling Your Home?

09/29/17 • -1 min

Winn Properties Video Real Estate Blog With Bo Winn

Selling a home? Get a free home value report

Buying a home? Search all homes for sale

If you’re trying to make up your mind between selling or remodeling your home, the answer depends on what you’re looking for.

If the house is too small for your growing family, you’ll probably want to look for a larger home. If you like the house you live in but it needs updating, remodeling might be the answer.

In terms of remodeling, the best bang for your buck lies with the kitchen and/or the bathrooms. Your budget will determine how much you end up doing.

A full kitchen remodel usually costs between $20,000 to $50,000 or more. A bathroom remodel usually costs between $10,000 to $30,000 or more. The difference depends on how many walls, doors, and windows you want to move, which types of fixtures and appliances you want, and which type of flooring you want. Your biggest expenses are usually cabinets, vanities, and countertops.

“

You should meet with at least three contractors to get a feel of how much it will cost.

”

Do your research before you meet with a contractor—you should meet with at least three to get a good feel of what it will cost. Labor usually costs the same, so most of the cost boils down to what materials you purchase. Try to compare different makes and models of flooring, appliances, fixtures, etc., to get a good idea.

If you have any questions about home remodeling or you’re thinking of buying or selling a home in our Raleigh market, don’t hesitate to reach out to me. I’d love to help you.

Selling a home? Get a free home value report

Buying a home? Search all homes for sale

“

You should meet with at least three contractors to get a feel of how much it will cost.

”

Previous Episode

What Is Going on in Our Market Right Now?

What is going on in the market? 2017 has been a year of change, so let’s take a look at the latest trends.

Selling a home? Get a free home value report

Buying a home? Search all homes for sale

Real estate is constantly evolving and 2017 has been consistent with this fact. This year has shaped up to show a lot of change in our market and continues to do so as we near the fall months.

If you still have a real estate transaction planned for this year, it never hurts to have a good handle on what’s trending in the marketplace. A few things should be on your radar for the rest of the year.

Moving forward this year, home prices may begin to stabilize due to rising interest rates. This could lead to a seller drop in equity.

Therefore, the chances buyers have of getting a good deal is becoming more and more promising.

An increasing number of millennials are coming into the market. As a result, demand is expected to rise.

Keeping your finger on the pulse of the market can help you to make smart choices.

Suburbs are going to be a popular area to which many millennials will move, since suburbs offer buyers the chance to get more bang for their buck. Homeowners should also expect to see a rise in equity.

With the potential influx of new homeowners, supply may shrink. As a result, the available housing inventory may become sluggish.

Keeping your finger on the pulse of the market can help you to make smart choices whether you’re buying or selling.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Next Episode

10 Reasons You Should Consider Selling Your Raleigh Home This Fall

Selling a home? Get a free home value report

Buying a home? Search all homes for sale

Here are the top 10 reasons you should list your home this fall:

10. By selling now, you’ll have the opportunity to be a non-contingent buyer in the spring. When there are more houses on the market for less money, this will allow you to sell high and buy low.

9. You can still restrict showings during the holidays.

8. January is traditionally the month for employees to start new jobs. Since transferees can’t wait until spring to buy, you need to be on the market in fall and winter in order to capture those buyers.

7. Some people are looking to buy before the end of the year for tax reasons.

6. Buyers have more time to look for a home near the holidays than they do during the work week.

“

People who look for homes during the fall, winter, and during the holidays are much more serious buyers.

”

5. Buyers are more emotional during the holidays, so they’re more likely to accept your price.

4. Houses show better when they’re decorated for the holidays.

3. Supply will dramatically increase in January, which means less demand for your home. Less demand means less money.

2. Serious buyers have fewer options to choose from during the fall and winter, and less competition means more money for you.

1. People who look for homes during the fall, winter, and during the holidays are much more serious buyers.

If you have any more questions about selling your home during the fall and winter season, don’t hesitate to reach out to me. If you’d like a free home evaluation, go ahead and call or text me at (919) 614-4533.

Until next time, I hope to hear from you!