Thinking about remodeling your home? Here's my perspective as a Washington DC metro area realtor

INTRODUCTION

Hello and welcome to my latest blog. If you’re thinking about remodeling your home in the Washington, D.C. metro area, you might wonder which upgrades will add the most value. Today, I'm taking a look at the projects that can make a big difference when it’s time to sell and or to boost the enjoyment of your home if you are not quite ready to sell, or perhaps you might be thinking about renting it out for a period as is the case with a client I am currently working with. On a timely note, if you don't have the time or the inclination to run to Home Depot, for instance, Doordash and Uber just signed deals to link up with the home goods store. 

Before I proceed, the return on investment in real estate terms is a complex calculation. On the one hand data might show that a remodel is not worth the time and the effort and on the other there are times when one needs to make changes in order to attract a large or larger pool of buyers which is critical in a market such as the one we are working in now when interest rates have been hovering around 7 percent on average. 

One of the reasons one might argue that it is not worth the time and the effort is that the eventual buyer might be the sort who insists on doing things their way, and while that might be true, the key for the homeowner is to create a space that appeals to as many buyers as possible while showcasing the homes attributes. For my part it really depends on the condition of the home and the situation/context. 

According to the National Association of Home Builders (NAHB), 65% of remodelers reported bathroom remodels as a common job, followed by kitchen remodels at 61%. For illustration purposes I have included a couple of before an after projects that I oversaw for a client. On this 1200 SF condo rehab I was given complete control over the choices, on the condition that I stayed within budget. The entire project, including labor/materials/appliances/finishes/permits cost approximately $75K. It sold in 5 days, considerably less than the average number of days. 

1. Kitchen Remodels



Kitchens are the heart of the home, so it’s no surprise that they typically offer a great return on your investment. In our area, homebuyers love modern, functional kitchens with high-end appliances—think 48-inch refrigerators, professional-grade ranges, and sleek built-in ovens. Adding an eat-in kitchen or improving counter space with quality materials like quartz can also make your home more appealing. However, also keep in mind that you don't want to price yourself out of the neighborhood. 

As a realtor I can help you avoid this mistake, and one such way to do it is to study the comps in the area, and if all else fails reach out to the respective agents who were selling these properties to determine if there were any obstacles along the way, especially in an up and coming neighborhood. For my part, I am not shy about doing this if the situation calls for it. 

APPROXIMATE COST 

  • Budget remodels start at approximately $26,000 to $30,000.
  • Mid-grade remodels start at around $30,000 to $40,000.
  • Top of the line remodels start at $70,000. 

2. Bathroom Upgrades

Bathrooms, of course, are another hot spot for value-adding renovations. Spacious, walk-in showers, luxurious vanities, and timeless quartz countertops have a huge impact when it comes to attracting eyeballs, both online and in person. For those on tighter budgets, even relatively small changes, such as paint, updated fixtures/hardware and better lighting, can make a significant difference as far as overall impression. Additionally, using universal design principles (like wider doorways or grab bars) can attract a broader range of buyers looking for long-term comfort, especially for those who are looking to age in place. Having a bedroom on a main level, for instance can separate a home from the pack. 

APPROXIMATE COST

  • Budget remodels start at approximately $12,000 to $15,000.
  • Mid-grade remodels start at around $21,000 or $600 per square foot.
  • High-end remodels and extensions start at $40,000. 

3. Outdoor Living Spaces

Outdoor spaces are a must-have for many buyers in the D.C. area. Adding a deck, patio, or covered porch not only expands your living space but also makes your home perfect for entertaining. It's no secret that these additions improve curb appeal and create an inviting environment that buyers love. I have clients who are considering adding an ADU (alternative dwelling unit) to their yard as a way to monetize the space and or provide additional space for friends and family. 

4. In-Law Suites

Multigenerational living is becoming more popular, so adding an in-law suite can be a game-changer. A well-designed suite with a private bathroom, kitchen, and living space offers flexibility for families and significantly increases your home’s value. See ADU, for instance. 

5. Flooring Upgrades

Flooring is of course a go-to update for many homeowners. Hardwood floors are a top choice—they’re relatively durable and maintenance free, and look great. Whether you install new hardwood or refinish existing floors, you will typically see a strong return on the investment, especially if you choose a neutral stain that sells and looks right in the space. 

Any disruption caused will pay off unless your floors are acceptable to begin with. For instance, there is nothing more divisive than a floor that has an unusual stain or finish unless it absolutely goes with the space and or exudes personality and style. For my part there is nothing more insulting and or deflating than say a stark two tone cheap looking LVP (luxury vinyl plank) in a flip home that otherwise offers high end appliances and finishes. LVP which runs the spectrum as far as quality is particularly suited to basements which tend to be damper and more susceptible to water infusion. 

APPROXIMATE COST

$8 PSF to $30 PSF depending on the vendor/supplier and hardwood type including installation and removal. Engineered hardwood is a popular choice for those looking for wider plank (5 inches and up). Engineered wood has a hardwood surface with bonded layers of plywood and or other compressed wood along with a wood base. While it can't be sanded and refinished as much as hardwood it is better at handling humidity. If you want to save dollars while not sacrificing quality, please feel free to contact me for my preferred vendor.  

WHOLE HOUSE COSTS for more extensive projects 

  • Costs can range from $300,000 to $IM, depending on the size and scope of the renovation. 
  • Please note that these figures are starting points, and actual costs can vary based on factors such as the specific scope of work, materials chosen, and the unique characteristics of your home. Consulting with local remodeling professionals can provide a more accurate estimate.

In Summary

A quality remodel, no matter what you decide to do, can boost both your home’s market value and its livability. Budget notwithstanding, kitchen and bathroom renovations, outdoor enhancements, in-law suites, and beautiful flooring are the typical choices for homeowners to consider in the D.C. metro area. When you’re ready to take the plunge, working with experienced local remodelers can help you stay on budget while achieving a fantastic transformation. And of course, keep in mind that a little patience can go along way. I wouldn't be a realtor if I didn't know how to stay on top of contractors. And if you need a consult on materials and finishes that sell please get in touch. It is one of the many services I provide as part of my fee -- you have nothing to lose and it's what I enjoy. 

As always, thank you for reading and feel free to comment or like the post...

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