Kelly Wright: Renovating With Resale In Mind

I’ve seen housing markets boom and bust through the years. One factor has always remained constant through these times—homeowners have consistent needs and wants when it comes to the features of their homes.

If you’re thinking of remodeling a home, you’re probably considering how the changes will appeal to the next owner and therefore affect the resale value. This is a responsible approach. After all, there will come a time when you’re ready to sell, and at that point you’ll want the maximum return on your investment. The key to remodeling a property for resale is to make the right choices from the start. That means more than just choosing the right colors and fixtures. Here are several factors to consider when determining how to spend your remodeling dollars.  

Talk to Professionals

Talk with your homebuilder, interior designer, and realtor to get ideas and guidance on the best way to approach your project with resale in mind. These professionals are entrenched in the housing market and can provide advice that can save you time and money in the long run.

Consider Your Maximum Property Value

Even the most impressive properties have a maximum value, no matter how much is put into the home. Factors to be considered when assessing the value of your home are the neighboring homes and land values, the quantity and usability of the land, the number of bedrooms and bathrooms, total square footage, etc. Again, a professional can help provide guidance here.

Kitchen and Baths

Not so fast! Although kitchens and bathrooms are still at the top of the list when it comes to return on investment, basic systems and elements of the house are equally important to buyers. Windows, HVAC, Plumbing, Roof, and Electrical systems are all items that buyers expect will be up-to-date when purchasing a home. For that reason, these items should take some priority. If they’re in good working order, then the kitchen and bathrooms are a great place to start.

Wright Building Company

Additional Space

If you’re considering remodeling an existing space to improve the layout and usability of your home, you might consider the value of building an addition. Building a home addition will add square footage, and having an extra bedroom, play space, or bathroom is a great way to increase home value. A well-designed addition can also improve the functionality of an existing space. For example, if you’re adding a powder room off the kitchen, consider taking advantage of this time to bump out the kitchen or add a mudroom or pantry. Consulting an architect and builder is a good place to start when thinking about adding on. It’s a good idea to bring both in together at the start of any project.

Wright Building Company

Professional Lighting Design

Lighting is a significant factor to creating an aesthetically appealing space. Achieving the right lighting scheme is part art and part science. It takes experience to get the job done right. Several factors come into play when developing the ideal lighting arrangement. These include correct placement of fixtures and recessed units; appropriate fixture type, size, and style; and integration of technology. Today’s lighting setups can be controllable by handheld devices and come with a variety of customizable settings. Lighting can be very complex and should be installed by an experienced lighting specialist.

Wilson Kelsey Design

Curb Appeal

Making a good first impression on homebuyers can pay off in the long run. This starts with the appeal of the exterior. A good place to start is your front entryway. A well-designed, eye-catching entryway can include an impressive front door and proportioned portico or covered approach. Stonework, nice landscaping, color, and siding will all play roles in creating the right look.

Wright Building Company

There are other improvements and factors to be considered when renovating your home for maximum resale. The items that we discussed, however, are some of the most critical. One of the most important factors will be to hire the right professional. It’s always best to work with trained and experienced tradesmen. You may end up spending a little more in the long run, but when you work with true professionals, you’ll always end up getting what you paid for.

Kelly Wright is President and Founder of Wright Building Company in Norwalk, CT. Kelly has been building luxury renovations, additions, and custom homes across Fairfield and Westchester Counties for thirty years.