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Should I Remodel My Home or Sell Fast for Cash? Part 1

 

 

There can be incredible value in remodeling your home. Of course, this can also be a stressful process as expenses go through the roof. Before you take on any remodeling project, you should ask yourself, “will the cost of the upgrade result in a nice return for the resale value of my home?”

In this two-part series, the homebuying experts at Real Estate Solutions Providers will discuss expensive remodeling jobs and the options that a homeowner has when their outdated home needs upgrades and they are considering selling. If you’re thinking, “I need to sell my home fast in Raleigh, NC,” a professional homebuying service is standing by.

Planning the Remodeling Job

If you do decide to remodel your home, you will need to develop a strategy to take on this extensive work. From planning what needs to be accomplished to budgeting, this can be a time-consuming and daunting task for any homeowner. Here are a few things to consider:

  • One Room or More: Will you focus solely on one area of the home (for example, the kitchen) or will you utilize the contractor’s services for several areas at once? It can be cost effective to have as much surface area worked on at once as you can; however, this also requires more capital and leaves you with less living space during the remodel.
  • Prioritizing: Considering most homeowners do not have endless cash to spend on their remodeling projects, it’s more than likely that you will need to select a specific area of the home to start working on. Typically, homeowners that need extensive work done to their home budget first for a bigger project like the kitchen and then take on the smaller projects once they have the funding. Of course, this depends on the remodeling plan, the budget, and the homeowner’s preference.
  • Adding Space: Whether you are creating an open floor space for your kitchen and living area or adding onto the foundation of your home with a new bedroom, it’s important to weigh the expensive price of adding square footage compared to the return on your investment. Some remodeling jobs can easily cost over $50,000.

As remodeling jobs can be intimidating and there is always guesswork if the time and expenses will result in the return you are looking for, many homeowners with outdated homes decide that they would prefer to say, “sell my house fast in Raleigh, NC,” than to take on work that can easily exceed $100,000 in total expenses.

If you are interested in remodeling or selling your home fast for cash, please read the second part of this article.

For more information about how we buy houses for cash in Raleigh NC, please submit our contact request form.

Disclaimer: This website is not a substitute for legal advice. If you have a serious legal, tax, or other issue requiring professional advice, please consult with an attorney or CPA.

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