If you’ve watched the show Property Brothers on HGTV, then you know the drill. Drew Scott, real estate agent extraordinaire, takes his client to an absolutely gorgeous dream home and then drops the bomb. The perfect castle is always hopelessly out of the client’s price range. Zoom in on the client’s sad face. Not to worry, though, Drew’s twin brother, Jonathan, is ready to explain that any home–even the most hopeless wreck–can be turned into a dream home with the right remodel.
Good thing he happens to be a master general contractor. The Property Brothers may be hamming it for the camera, but their message is sound. Any house can be transformed with the right modifications. A good remodel will not only increase a house’s market value but will also turn it into a client’s personalized dream home. Here’s what Drew and Jonathan Scott, the Property Brothers, can teach you about choosing the right remodel for long term home value.
It seemed hopeless. Drew ushered his clients, Tom and Bridget, into a worn-down home with a bizarre kitchen designed to look like a 50’s diner. The “Dingy Diner” as Drew nicknamed the property was perfectly situated to cut down on Tom’s commute and was in a desirable, family friendly neighborhood.
Drew encouraged his clients to consider the home’s location and to believe that everything they didn’t like about the home could be changed. They put their faith in Jonathan and weren’t disappointed. By the time Jonathan and his remodel crew were done with the place, it looked like a brand-new home. Jonathan proved that even the most hopeless home can be completely revived with the right remodel.
When Drew led his clients, Marc and Ashleigh, through a disastrous home permanently stuck in the 80s, the horror culminated in the disco bedroom complete with pink felt bed stand and the Pepto Bismol pink bathroom. The house was huge and in a desirable location, but it’d been on the market for over a year, because its design was so bizarre and outdated. Most homebuyers just couldn’t see the home’s true potential.
This was fortunate for Marc and Ashleigh. Drew was able to get the home below asking price, because the homeowner was desperate to get rid of the property. Jonathan then tore up the “Disco Love Shack” and turned it into Marc and Ashleigh’s dream home. The lesson of the Love Shack is that highly specific remodeling may pet your ego in the short-term, but it can just as easily scare away home buyers when it comes time to move. That doesn’t mean you can’t remodel with a little personality, but keep in mind that trends do fade. The more personalized you go, the bigger the re-sale challenge.
There’s a reason Jonathan often suggests hardwood flooring to his clients. In other cases, his team will discover hardwood floors beneath tacky carpet and will re-sand and stain it for beautiful results. Jonathan is onto something. Hardwood floors have excellent re-sale value. According to HouseLogic.com, brand new hardwood floors will offer a return of 91% when the home is sold–one of the best returns on investment remodels. Refinishing a hardwood floor will give you a 100% return on your investment.
Research the typical return you can expect for any remodel you are considering. You might be surprised to discover that things like upgrading the landscaping, adding a new roof, or even putting on a garage door have some of the highest returns on investment. You don’t regularly see Jonathan and crew putting on a garage door, but you might want to think about it for your San Diego home. The best way to get a sense of return on investment for remodels in San Diego is to download the Cost vs. Value report at www.remodeling.hw.net.
Value Is More Than Just Re-Sale Value
All you need to do is watch the face of Drew and Jonathan’s clients when they step over the threshold of their newly remodeled home. Get ready for stunned expressions, huge grins, and teary eyes. The joy of these new homeowners is palpable. What was once a “Dingy Diner” or a gross “Disco Love Shack” has been transformed into the house they always dreamed of.
In these moments, it doesn’t matter that an upscale bathroom remodel only gives a 61.6% return on investment. What matters is that Bridget got her backsplash, Ashleigh got her huge standalone tub and walkthrough closet and Gina got her gorgeous French doors. There’s a reason that the remodels featured on Property Brothers almost always include a huge kitchen remodel, master bedroom remodel and master bath remodel. It’s because these are the rooms that mean the most to homeowners–where they entertain, cook, seek refuge from the world, and relax.
The value of a home remodel isn’t just about its resale value. It’s also about its value to you. How much do you wish you had a kitchen that would actually let you entertain? Or a huge walk-in closet that could contain your wardrobe, or a master bathroom with a duel sink vanity so you and your spouse don’t have to fight for space?
In other words, how much is your quality of life and domestic bliss worth?
We at Kaminskiy Design & Remodeling aren’t a pair of handsome, camera-ready twins. Sorry. But we are a family-run business with deep ties in San Diego. We’ve been creating dream homes in San Diego for over ten years, and we want to help create your dream home next! Contact us to schedule a remodel consultation.