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The cost of moving and how to recoup it
May 3, 2014 at 3:47 am #14995
Moving is no picnic, and you don’t realize how expensive it is until you start packing. Thought the expensive of a moving van would be the most of your worries? Think again. How exactly were you intending on packaging all your stuff? Moving van rentals don’t include gas, don’t forget. If you’re moving between states, you’ll need a new driver’s license once you get there, need to change your address on a hundred different forms, and this is not to mention you may have to double up on utilities, home insurance, or mortgage payments if you aren’t able to sell your old home before you move.
The point of all this is to remind you how important every penny is when it comes to selling a home. A simple renovation might be the difference between selling and moving on, or being stuck between two cities for several interminable months. You may not recoup your renovation investment in the sale of the home, but the right reno could almost certainly recoup itself when you look at the big picture.
A few eye-catching ideas
Ryan Star, a renovation guru for Candadian newspaper The Hamilton Spectator, came up with several remodeling ideas sure to catch prospective home buyers’ eyes and get your home on and off the market as quick as you can.
Stainless steel and stone in the kitchen
First, he suggested updating your kitchen, which is the first thing home buyers tend to look at. Star explained, “A kitchen remodel can get up to a 75 percent return on investment at resale. Popular kitchen upgrades include stone countertops, tile backsplashes, islands, and stainless steel appliances.”
Create a master bathroom paradise
Next after the kitchen in popularity is the master bathroom, which Joel Scopelleti, a renovations contractor, said is a huge selling point. “Bigger showers are the trend. People would rather have a big spacious shower versus a basic bathtub and small shower,” he said. Another item on the wish list: a double vanity and heated floors. The addition of even one of these features could help your home stand out among the rest.
Adding a basement
Build a bigger and better home by adding a basement, though it’s suggested you only do this if you wish to use it yourself. You won’t return your full investment on a basement addition, but your added comfort and enjoyment paired with a larger square footage (attractive to future buyers) can make it a valuable renovation.
Scopelleti explained, “You’re making the house a lot more comfortable to live in, saving energy costs, and you’re adding more space to live in.”
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