Renovating your Scottsdale Home for personal reasons or sale price?

Figuring out the reason behind your home renovations can make a marked difference on what you invest in and why. Some people in Scottsdale are renovating their homes to simply have a higher selling price. Some are doing it to differentiate their Scottsdale home from the many now on the market. And many more are investing in their future with the home. Being clear on your reasoning will help you determine how much to spend.

If you are renovating a Scottsdale home for sale, do not get attached or emotionally involved in your remodeling, as it can lead to unnecessary spending that doesn’t make too much of a difference in the buyers mind. You, as the seller, have to remember that the buyer’s taste is not your own. Do major remodels only if the existing setup and layout is unacceptable. For instance, minor kitchen remodels that simply give the house a facelift will net a 98.5% return on investment, differentiating and updating the house without hurting your margins. Major kitchen remodels, however, only net a 91% ROI, a significant drop. The same thing applies to bathroom remodels. A minor bathroom remodel will net a 102% return on investment. This is impressive, and means the renovation will be profitable right out of the gate. However, a major remodel falls all the way down to 93%.

Remember, even with a Scottsdale home, a buyer might not appreciate all the time you put into choosing an exotic stone for kitchen countertops. While it might elicit a few ‘oohs’ and ‘aah’s, this usually doesn’t translate into a significantly higher buying price. Spend within reason on impressive but not exotic materials. In this same line of though, do not choose styles that might automatically turn off potential buyers. Countertops or materials that are way outside the norm might attract certain buyers, but might reject many more. It’s important to be different from your competitors but you never want to reach extremes.

Of course, all this advice changes if you are simply investing in your Scottsdale home for personal reasons. However, one’s home is usually one of the biggest investments they will ever make. Whenever you are working on that investment, it is never a bad idea to remember that one day it might be sold.