There’s no reliable way to quantify the return on a home remodel when the time comes to sell – or guarantee that the new owner won’t immediately remodel again – but several projects sit at the top of the list for upping a property’s resale value.
From the cheapest projects, like landscaping and cleaning the carpets, to spending thousands on a kitchen makeover, housing experts and Durango residents in the middle of their own renovations consistently promote the same remodels to liven houses up for a spring resell.
“That’s the first thing we tell people,” said broker John Ralph. “You have to make your home showable while livable. You’re staging your home, so the things you live with that may look fine to you, like knick-knacks, you need to downsize to open up space and make it more like a show home. That’s one of the first things you can do without spending a lot of money.”
Hiring an inspector will put a fresh pair of eyes on the property and point out things that need fixing or remodeling that the homeowner may not have noticed living there day-to-day. And it will reassure the buyer to know what problems he may be buying into.
“Every real estate expert will say put your money into your kitchen and master suite,” real estate agent Todd Sieger said. “You can never do a dollar-for-dollar comparison, like if I put $5,000 into a kitchen remodel, can I sell it for $5,000 more? It’s impossible to predict that. But buyers are always looking for nice kitchens and master suites.”
Many Durango homes, particularly those close to town, are older and smaller but have enough property where owners can expand or reconfigure the bedroom/bathroom count and garage space.
Chara Ragland and her husband, John, have owned their house off Florida Road for four years and have lived in it full time since October. They have several renovations underway or pending at their home, including a makeover for an outdated master bathroom, which is currently carpeted and has a bathtub but no shower.
Ragland is adding a walk-in shower and floor-to-ceiling storage space, and moving the toilet for around $8,000.
“I don’t know when we’ll find a new place or where we’ll move, but in the meantime, we’re making the house as desirable as it can be,” she said. “You ought to do things you’ll get your money out of. When I walk into a house, I want to know how it’s going to work for me.”
Ragland is also adding needed cabinets and shelves in the master bedroom and laundry room, a less expensive project that still has a lot of long-term value.
“When I look at a home, I like to walk into a functional laundry room,” she said.
“We’re seeing trends change quicker than in the ’80s and ’90s,” Sieger said. “Back then, something would be around for 10 years. Now, you buy a house, and within a couple years, it’s dated.”
To stay on top of trends that could direct the next remodel or redesign, consult local custom homebuilders for their ideas or trade websites. The Home Builders Association of Southwest Colorado’s annual Parade of Homes often features open houses, which can also inspire modern remodel and redesign ideas.
If a full remodel is financially out of reach, changing fixtures and cabinet pulls can alter a room’s entire look. And paint goes a long way. Instead of spending $15,000 to replace the cabinets, local painters can transform the old ones with a paint job for a few thousand.
DIY isn’t always the best route
“I see a lot of homes advertised as having a ‘remodeled kitchen,’ but they bought some inexpensive cabinets that didn’t fit or they put in new hardwood flooring and didn’t quite install it right, where you’ve got gaps,” Sieger said. “Unless you have construction experience, I’d encourage the seller to seek the assistance of a professional. Buyers are so savvy these days. They can get online and do all their own pricing, and they can see when something was installed wrong.”
jpace@durangoherald.com
