Cost vs value remodeling guide 2018

Probably the number one question I am asked from Sellers is "what should I update on my house in preparing to sell?  If you go by the remodeling guide's latest evaluation of cost vs the return on investment of remodeling projects, it isn't much. 

http://www.remodeling.hw.net/cost-vs-value/2018/

There aren't any projects listed that actually give you over a 100% return on your invested dollars, so if that is the case, there isn't a major project that a seller should do.  However, these are talking about sizable renovation projects.  I would always recommend spending some time and money upgrading curb appeal and having fresh flooring and paint, this maybe somewhat labor intensive but it is well worth the investment.  Concentrating on modern flooring and fresh paint is highly recommended and then the next area that would give you a return on your dollars would be updating kitchen and baths.  This doesn't mean doing a complete facelift but by spending a few dollars on updating some dated fixtures can have a big payoff. 

In the past issues of this remodeling report there was only one project that justified over a 100% return on your investment, and that was putting in a new front entry door.  Coming in second was usually high end garage doors.  So, the front entry is a great area to focus on making sure that this area is in great shape and really wows a buyer. 

I usually recommend on the smaller scale items that if a buyer is going to need to replace something when they move in, a seller should consider replacing it because they might as well get the value out of it while the property is on the market.  An example would be worn carpet.  If the carpet is so worn that a buyer would immediately replace the carpet, the seller should put in new carpet.  If the buyer may keep the carpet because its only a couple years old, then probably a carpet clean would be sufficient.  It is amazing what brand new carpet can do to refresh a home. 

It also depends on where a home is in relation to the rest of the neighborhood.  If a house is already priced at the low end of the neighborhood, then it might make sense to not do any upgrades and just sell at the low end of price because a buyer will still be able to gain equity by doing some of the upgrades themselves and to their own tastes.  If a house is priced at the high end of a neighborhood then there might be some upgrades that will need to be done to justify the top dollar.  

But in general, stay away from the more extensive remodel upgrades and just do some minor refreshing to the home.  Paint as much as you can with neutral colors, new carpet, fresh mulch and landscaping and fix any deferred maintenance items is probably a safe plan.  Maybe some new light and bath fixtures and a new appliance in the kitchen to replace the one that is 20 years old.