Here are a half-dozen tips which will provide a useful yard-stick or template to follow if you are considering a fair sized remodel or home improvement on your South Orange County home – knowing in advance that you plan on selling the home in the near future, hoping to secure a profit on the investment you are making on this investment.
1) Match flooring, counter-tops and appliances to the rest of the neighborhood.
Using low-end products and materials in a high-end neighborhood will temper and even reduce the market value of your home. Vice-versa, putting high-end granite or for example travertine flooring in a lower priced neighborhood won’t inflate your Orange County homes sale price much over the last comparable sale.
2) Do the home improvement right the first time.
If you aren’t a professional installer or remodeler then hire one! The sophisticated buyers in the Orange County housing market will spot shoddy work at first glance. No one will pay top dollar for amateur workmanship.
3) Don’t overbuild or over-improve for your community of neighborhood.
A 4,000 square foot home nestled within a neighborhood of 2,000 square foot homes won’t fetch double the market value. Likewise, no one is going to pay full price for a mansion located in a trailer park. If you are planning a major remodel or room addition with plans on selling down the road, use common sense.
4) Don’t be too trendy – it is okay to be predictable.
People’s tastes change frequently, especially the trendy ones. Just because a new color scheme looks catchy today doesn’t mean it will look similar in a year or two. We are not referring to superficial items such as paint which can be easily changed, but rather to higher end items such as flooring and counter-top choices.
5) Build out existing rooms before thinking about adding on another room.
A remodel that could turn a storage area off the kitchen into a pantry would reap a much higher return on investment than adding more square footage on the home in the form of a room addition or similar.
6) Addition by subtraction.
Have a four bedroom house and only two children and want to convert that fourth bedroom into a huge walk-in closet and extra storage area? Probably not a good idea… It might make the wife happy, but it eliminates a bedroom and it will certainly reduce your property value.