If you are considering selling your current home in order to make the move to a new and more valuable property, there are a number of basic considerations to keep in mind. The first is that you certainly don’t want to sell your home for less than you paid for it. If the only way you can move from your current address is to suffer a serious loss on your initial home purchase, it’s probably best to stay where you are until you can take positive steps to significantly increase the value of your present home.
Remodeling Your Kitchen Is An Excellent Place To Start
When it comes time to thinking of ways to add instant resale value to your home, remodeling your kitchen is an excellent place to start. You can get your kitchen upgraded in very little time, and for a price that won’t dent your budget. Your kitchen is one of the very first places in your home that your real estate agent will take a prospective new home buyer to see. So it makes good sense to ensure that they get a good view of a clean, well maintained, and expertly organized kitchen.
First Impressions Last Longer Than You May Believe
When it comes to shopping for a new home, it’s always important to keep in mind that first impressions last far longer than you may wish to believe. This is especially true when it comes to a prospective home buyer who is seeing a new property for the very first time. It’s extremely important to prove to a potential buyer that your home is not only in the best shape, but that you have the utmost confidence in it remaining that way for many years to come. The best way to prove this is to show them that you have put in the time, effort, and money required to make this statement more than empty words.
How Much Money Is Safe To Spend On A Remodeling Project?
Of course, a major consideration will be just how much money is safe to spend on a kitchen remodel project. Most home remodeling experts believe that you should spend no more than between six to ten percent of your home’s total value. It’s a general rule of thumb that you should enjoy a 70 percent ROI (Return On Investment) when you sell your home. Of course, depending on the overall condition of the home, as well as the area in which you live, you may experience some fluctuations in value before you get to that point. Still, the six to ten percent rule is an excellent price guide for remodeling.
How Soon Should You Sell Your Home After You Finish Your Remodel?
The last consideration will be just how soon you should sell your home after you finish your kitchen remodeling project. The ultimate answer is up to you, but if you are set on selling as soon as possible, it’s an excellent idea to engage the services of a home appraisal expert. A real estate appraiser can give you an excellent idea of how much your home is worth now that it has been partly or fully remodeled. From there, you can come to your own decision on whether to wait or sell right away.