Whether you’re ready for it or not, fall is here! As we bring in cooler temperatures and preparations for the end of the year, now is a great time to sell your Park City Home. As the residential real estate market has entered a cooling-off period, it may be worth looking into remodeling or simply updating your home before listing.

Both simple and major updates to your home can help bring top dollar for your home. Some of these are DIY projects that can be knocked out in a weekend and practically guarantee a good return on your money. 

Others are significant renovation projects that will require the expertise and skills of a professional. As always, take into account the amount of cash you have and the equity in your home. 

Follow along as Jensen and Company let’s you know what buyers are looking for and what sellers need to know. 

Hardwood Floors: An Excellent Investment

One of the best returns on your investment is installing and/or refinishing the hardwood floors in your home. New hardwood floors look and feel great!  The National Association of Realtors (NAR) reports that refinishing your hardwood floors results in a 147% recovery on your money, and new hardwood flooring results in a 118% return. NAR also notes that 90% of consumers have greater happiness and satisfaction after installing new hardwood floors. 

If you want to add some extra “umph” to your Park City listing this fall, don’t ignore the statistics….think about installing or refinishing hardwoods! 

Insulation: Keep it Warm and Cozy

Insulation is definitely not as fun or beautiful as shiny new hardwood floors, but it is equally important. Winters in Park City are cold, and homeowners and guests want to be sure they will be kept warm! 

NAR reports that an insulation upgrade results in a 100% recovery on your money. Pro tip- even if you have some DIY experience, you likely want to outsource the insulation install as a skin full of fiberglass is a miserable experience. 

Painting: Color is Exciting!

If you are the DIY type, one way to freshen up your home quickly is to paint some of the interior rooms. Fresh and neutral paint colors that appeal to a wide range of buyers can help your home feel, smell, and look better. 

The National Association of Realtors (NAR) reports that painting interior rooms score a 10/10 on the remodeling joy scale. This is an inexpensive and easy way to make your home pop. 

Bathrooms: Worth it or Not?

 

One remodeling/addition project you may get away with skipping is the bathroom. Unless you have pink carpet and an in-ground tub, NAR suggests you skip the bathroom remodel.

The  NAR found that a bathroom remodel only brings a 71% recovery of your money, and adding a bathroom brings a 63% recovery. Save your pennies and use them towards hardwoods, paint, and insulation. 

Basement Conversion: Can Help You Sell Your Home

If you have money set aside or some cushion in the amount of equity you have in the home, you may consider converting the basement to a living area. This can be a significant task, so make sure you know what you’re getting into before embarking on this one! 

If you decide you can make it work, NAR reports that a basement conversion to a living area results in a 86% cost recovery. If you’re trying to get your home sold before the end of the year, you might want to skip this one. 

Hopefully, these remodeling projects motivate you to make minor or significant changes to your home! If you are unsure what to do to your Park City home before listing, we at Jenson and Company are here to help. 

We love Park City real estate and want to see you get the highest return on your home. We can take an assessment of your property and any updates that may be needed and help you analyze the cost/return benefit. Don’t hesitate to reach out.