One of the most common questions we hear at William Means Real Estate is whether a homeowner should renovate before selling. Clients often want to understand the return on investment, what today’s buyers are truly looking for, and whether updates will meaningfully impact value or marketability. The discussion quickly looks at the individual updates and their cost, length of time, how individualized they may be to someone’s taste, etc. The other not so fun part of the discussion is the difficult process of finding a contractor.
It is always recommended that you get at least three estimates. Just getting an estimate can be daunting as many contractors may be too busy to do an estimate, may want to make sure the job is at a minimum price point before they will estimate, or simply not respond to requests. When you can obtain quotes, two key items will be important for review. The first is that any contractor you are considering is licensed and insured. The second is that quotes are truly apples to apples. You may see on one quote a line item for permitting and not see this line item on another. Make sure you know if your project needs permitting and the contractor plans to obtain those permits. You will also typically see allowance numbers for items, and you will want to research on the internet if the allowance meets your expectations of the items you want to see. Some common items where this would apply would be bathroom fixtures like faucets, tubs, hardware, etc. You will also want to see if the estimates include a line item for overages. It is always a good idea when doing renovation projects to prepare for costs to be minimally 10% higher than what it expected. Some estimates will include this in the estimate, while others may not. It also may be helpful to keep a detailed list defining who is responsible for each project and item, so there is no confusion throughout the process. Then you may find the contractor you like with an estimate you approve only to find their timeline may not fit into your desired timeline.
It is a lot of work to do home renovations and that is even before the first hammer drops. If you do some pre-planning and have some guidance along the way, the process can transform into a beautifully updated home.
