Remodeling A Bank Owned Home

Did you buy a Bank Owned home or a Short Sale that needs remodeling? 

 Many of my recent Sacramento home buyers did just that…they bought bank owned homes for sale and short sale homes.

A few of my recent home buyers have added their own touches and new paint while others needed to do some major remodeling.

When considering a remodel, it’s important to know that some projects add vale to the home while others eat up your equity with no return.   Kitchen remodels recapture nearly 100% return if you stay within the maximum 15% of the home’s current market value.

Check out your neighbor’s kitchens and make yours compares best to theirs.  That is, if you plan to sell in the near future.  However, if you plan to stay  for many years, splurge and make it the way you always dreamed.

The 5% to 15%  rule applies:

The kitchen remodel (including cabinets, appliances, counter tops, flooring, lighting, trim molding and wall coverings) should cost no less than 5% and no more than 15% of the current value of your home.  The total kitchen remodel cost should have 50% of the cost allocated toward the cabinets.

The most important remodel tip is when hiring and getting bids for your kitchen remodel make sure you hire someone who is licensed.  Yes, it usually costs more but in the long run it will cost less…just believe me on this

Hope that helps new Sacramento homeowners answer some of their remodeling questions about kitchens.

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If you have a real estate question that you would like an answer to by Gena Riede, Sacramento Realtor ® specializing in helping home buyers and home sellers be sure to check out and read what other home buyers and home sellers have asked and feel free to ask your Real Estate question by email.   Perhaps, your question will be part of the next article featured on Sacramento REAL Estate Voice