Atlanta Construction Experts Explain: Remodel or Sell?
February 19, 2021at10:30 PM
Everyone has areas of their home that are a compromise. Maybe it’s a dark kitchen, insufficient bathroom storage, limited outdoor space, or an unfinished basement. Those places that you avoid spending time because of all the perturbable features. If there are enough of those places in your home, you might sell to find a place with more light, better storage, and more living space.
Atlanta construction and remodeling experts want you to know that selling isn’t the only option when you’re not totally in love with your property. A home renovation allows you to customize a room to your preferences, with bespoke finishes and details.
How do you decide if you should remodel or sell?
If you’re dissatisfied with your home in its current state, you’ll need to decide if selling or renovating is the right choice for you and your family. It’s not always clear, and many factors go into making the right decision. This list will help you answer some key questions.
Location, location, location.
There’s one thing that Atlanta construction and remodeling experts can’t help you with, and that’s the location of your property. If you hate the neighborhood or your commute, then selling might be the right choice. Once you realize the range of possibilities that come from home renovation, you might opt for a fixer-upper because it comes at a great price in an unbeatable location.
It’d be nice if there were a straightforward formula to balance location vs. property size and features. However, it’s a personal and complicated decision. Just know that even if you hate the interior, remodeling, and construction experts in Atlanta know how to bring out the best in every home.
Why is everyone talking about ROI?
ROI or your return on investment isn’t a minor consideration. If you think selling the property is in your future, no matter what, remodeling may still be a good idea. If you feel the kitchen lacks light or has ugly cabinets, you’re probably not the only one.
On average, you can expect a 65% ROI from a home renovation when you sell. Certain upgrades have better returns than others. Remodeling your home may not just improve your quality of life in the short term but also help it move when it goes on the market.
It all comes down to cost (and location).
If you’re weighing moving versus remodeling, it’s crucial to learn your home’s current value and speak with an Atlanta remodeling and construction expert. You need to establish a budget for the renovation and work with a home improvement business that can execute the remodel you want at a cost you can afford.
Find out the current value of your home.
Calculate the square footage of the room you want to remodel as a percentage of your home’s total square footage. A 50 sq. ft. bathroom is 2.5% of a 2000 sq. ft. home.
Your budget for a remodel shouldn’t exceed 2.5% of your home’s total cost. For a $250,000 home, you don’t want to spend more than $6,250 on a bathroom remodel.
If the total cost of the remodels you want exceeds the square footage’s value, moving may be a better option.
Suppose you love your location or expect your home’s value to go up in the next couple of years. In that case, it might make more sense to invest in your current property rather than move to a new location.
Speak with experienced Atlanta remodeling and construction professionals to help you decide to remodel or sell your home.
At Elite Construction & Renovation, we understand how frustrating it is to live in a property that doesn’t live up to your expectations. Our customer service experts have years of experience transforming houses into dream homes. We’re happy to evaluate your property and provide you with a free quote for interior and exterior home renovation.