Homes need updating from time to time. It seems every seven years the styles and colors change, making some homes more obsolete than others.
If you are thinking about renovating your home, prior to selling it, you want to be sure to spend money where it counts. If you spend a $1 it would be best that you receive your $1 (or more) back upon the sale.
Large ticket renovations are best made during the time when you can enjoy them for a few years. Kitchens and bathrooms are in this category. The cost to renovate these needs to be done long prior to selling the home, unless of course you have a huge equity in the home and the neighborhood values support the improvements.
Avoid the Handyman Special Look
Additions of rooms and wings to a home seldom bring in an equal dollar amount to what they cost. Such additions are typically done for the enjoyment of the owner. Sometimes, if they are done in a less than "workmanship manner" they are a detriment to the sale of the home.
The best money spent is on paint and carpet. Most buyers are not willing or able to purchase a home and then come in to paint and carpet. They have spent all their available resources to obtain the home, so having it completed is always a plus.
Pay Attention to Every Detail
Homeowners that do "partial" renovations are making a big mistake. It is human nature for buyers to look at what is "not done" as opposed to what "is done". So when planning to do renovations do them completely, right down to installing new switch plates on the wall. I guarantee if a seller were to complete the entire renovation, and not place the switch plates, the buyer would notice the missing switchplates and NOT the renovation.
Remoldeling Magazine publishes a "Cost vs Value" report covering 53 cities around the U.S. The report accounts for various remoldeling job costs, resale value to the home and how much of the cost is recouped. The costs for Denver, Colorado are as follows:
| Type of Remodel | Job Cost | Resale Value | Cost Recouped |
| Major Kitchen | $41,859 | $27,000 | 64.5% |
| Bathroom | $10,023 | $6,143 | 61.3% |
| Master Suite | $66,830 | $42,143 | 63.1% |
| Family room | $51,017 | $30,000 | 58.8% |
| Window replacement | $8,854 | $6,643 | 75.0% |
| Roofing replacement | $10.664 | $5,286 | 49.6% |
| Attic bedroom | $34,668 | $22,714 | 65.5% |
| Basement remodel | $47,174 | $21,714 | 46.0% |
| Sunroom addition | $30,384 | $11,143 | 36.7% |
| Deck addition | $7,374 | $3,571 | 48.4% |
Improvements are described as follows:
Major Kitchen Remodel: Update an outmoded 200-square-foot kitchen with new cabinets, laminate countertops, and standard double-tub stainless-stelel sink with standard single-lever faucet. Include energy-efficient wall oven, cooktop, ventilation system, built-in microwave, dishwasher, and garbage disposer. Add custom lighting and new resilient floor. Finish with painted walls, trim, and ceiling. Include 30 linear feet of semi-custom grade wood cabinets, including a 3 by 5 foot island.
Bathroom Remodel: Update bathroom that’s at least 25 years old. Replace all fixtures to include standard-sized tub with ceramic tile surround, toilet, solid-surface vanity counter with integral double sink, recessed medicine cabinet, ceramic tile floor, and binyl wallpaper.
Master Suite Addition: On a house with two or three bedrooms, add a 24 by 16 foot master bedroom suite over a crawlspace. Include walk-in closet/dressing area, whirlpool tub in ceramic tile platform, separate 3 by 4 foot ceramic tile shower, and double-bowl vanity with solid surface countertop. Bedroom floor is carpet; bath floor is ceramic tile. Paint the walls, ceiling, and trim. Add general and spot lighting and exhaust fan.
Family Room Addition: Add a 16 by 25 foot room on a crawl space foundation with vinyl siding and fiberglass shingle roof. Include drywall interior with batt insulation, prefinished hardwood floor, and 180 square feet of glazing, including windows, atrium-style exterior doors, and two operable skylights. Tie into existing heating and cooling.
Window Replacement: Replace 10 existing 3 by 5 foot double-hung windows with vinyl or aluminum-clad, double-glazed, wood replacement windows. Wrap existing exterior trim as required to match. Don’t disturb existing interior trim.
Roofing Replacement: Remove existing roofing to bare wood and dispose of properly. Install 30 squares of fiberglass asphalt shingles with new felt underlayment, galvanized drip edge, and mill-finish aluminum flashing.
Attic Bedroom: In a house with two or three bedrooms, convert unfinished space in attic to a 15 by 15 foot bedroom and a 5 by 7 foot shower bath. Add a 15 foot shed dormer and four new windows. Insulate and finish ceiling and walls; carpet unfinished floor. Extend existing heating and central air conditioning to new space. Retain existing stairs.
Basement Remodel: Create a 20 by 20 foot entertaining area with wet bar, a 5 by 8 foot full bath, and a 12 by 12 foot auxiliary room. Exterior walls are insulated. Include five six-panel primed hardboard doors. Main room includes 15 recessed ceiling light fixtures, three surface-mounted light fixtures, and snap-together laminate flooring system. Bathroom includes standard white toilet, vanity with cultured marble top, resilient vinyl flooring, two-piece fiberglass shower unit, a light/fan conbination, vanity light fixture, and recessed medicine cabinet. Bar area includes 10 linear feet of raised panel oak cabinets with laminate countertops, stainless steel bar sink, single-lever bar faucet, under-counter refrigerator, and vinyl floor tile.
Sunroom Addition: Add a 200-square-foot sunroom to a two-story house. Form and pour footings for slab-on-grade foundation. Use exposed post and beam framing on interior side and extruded aluminum window frame and flashing system with insulated, low-E laminated, or tempered glazing. Provide for natural ventilation using screens and ceiling fan. Insulate all non-glass areas; provide movable shades for glass area.
Deck Addition: Add 16 by 20 foot deck using pressure treated SYP joists supported by 4 by 4 posts set into concrete footings. Install composite deck material in a simple linear pattern. Include a built-in bench, a planter of the same decking material, and stairs. Provide a railing system made of the same composite material as the decking or a compatible vinyl system.
About the Author
Kristal Kraft
Kristal has been helping buyers and sellers in Colorado since 1984. She enjoys sharing her knowledge of the Metro Denver Real Estate market via blogging and in person while driving around the beautiful Rocky Mountain town of Denver! For fun, Kristal enjoys shooting things with a Canon. Visit Denver Photo Blog
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