The seller’s housing market in San Gabriel Valley remains hot, with prices continuing to rise and buyers snapping up homes at a rapid pace. It’s a great time to consider selling San Marino or Arcadia real estate—but there’s a long list of home improvement projects to consider before putting your house on the market.
Before listing San Marino real estate for sale (or planning any new home improvements) you should first complete any existing or unfinished renovations to your home. There’s a time and place for selling a home “as is”, but for luxury homes in communities like Arcadia or San Marino, it’s always better to have a home in prime condition before listing. Even in a seller’s market, you’ll be competing with many other homeowners who are listing their homes for sale. Maximizing your earnings means standing out among potential buyers.
If you don’t put effort into deep cleaning or improving your home, it may sit on the market for weeks or months longer than it should. Regardless of current market conditions, if your home languishes on the market, you’ll be forced to reduce the listing price in order to stimulate offers.
Below are the upgrades that will put the most money back into your pocket when selling a home in San Marino or Arcadia.
Projects with high ROI
Obviously, one of the goals when upgrading your San Marino home is to avoid overspending. To accomplish this, you can do a number of inexpensive do-it-yourself projects around your house or tackle some upgrades that have proven high return on investment (ROI). Also, whatever you do to upgrade your San Gabriel Valley home for sale should reflect the sun-drenched Southern California lifestyle residents enjoy in Arcadia or San Marino.
A handy reference guide is the National Association of Realtors (NAR) 2019 Remodeling Impact Report, which is a treasure trove of information. The report ranks interior projects and exterior projects, as well as an overall list of which projects bring in the most ROI for homeowners.
According to the NAR report, these are the top interior projects and their ROI:
- New wood flooring; 106%.
- Hardwood flooring refinish; 100%.
- HVAC replacement; 85%.
- Insulation upgrade; 84%.
For comparison’s sake, the NAR also ranked projects by their appeal to buyers and by their likely value to the home during resale. Below are the top projects that appeal to buyers:
- Complete kitchen renovation
- Kitchen appliance upgrades
- HVAC replacement
- New wood flooring
- Bathroom renovation
As detailed by the NAR report, smart sellers of San Marino real estate would go with a minor kitchen remodel that returned 72.2% on a project costing $26,214—rather than a full kitchen remodel, which would return just 57.4% on a $75,000 job. The same is true with bathroom upgrades, which can be easily accomplished by upgrading fixtures and adding a fresh coat of paint.
You may have already undertaken one or more of these projects during the time you’ve lived in your home, either to improve your enjoyment of the home, to save money on utility bills, or both. If you’re short on time, some real estate experts advise sticking with smaller projects before selling.
Exterior
The NAR also grades a number of exterior projects based on ROI and market trends. While many are big jobs (such as a new roof and vinyl windows), smaller projects include a new front door or garage door, along with DIY upgrades to improve the curb appeal of your Arcadia home for sale.
The NAR report is helpful for understanding national trends but always factor in the advice of your local San Gabriel Valley real estate agent when deciding on what upgrades will maximize your home’s ROI.
Other tips for selling San Gabriel Valley homes
With prices continuing to rise, now is a great time to consider listing your San Gabriel Valley real estate for sale. According to Zillow, the median price of San Marino homes for sale is currently $2,501,821—an increase of 7.3% over the past year—while Arcadia homes for sale are currently fetching a median price of $1,211,014 (a jump of 16.9% during the last 12 months!)
A great resource for selling your home and deciding which projects will increase the ROI of your San Marino real estate is to hire a knowledgeable real estate agent to represent you during the process, from listing until closing. Be sure to find an agent who has years of experience handling luxury transactions for Arcadia or San Marino homes. Be sure to check out the agents’ resumes and sales histories before making your decision.
A local agent will know what upgrades matter most in your neighborhood and will increase the ROI of your home without encouraging overspending. They will also have access to data from sales of comparable properties during the last year and will be able to help you set a realistic price based on what amenities and upgrades your home has.
Planning to sell a home in the San Gabriel Valley?
If you plan to buy or sell real estate in Arcadia, San Marino, or anywhere else in the San Gabriel Valley—contact Gordon Wang. Gordon’s local expertise, up-to-date market data, and outstanding customer service will help sell your home faster (and for more money) than you thought possible.
