Northern Colorado Renovation Specialists Steve & Thalyta Swanson Share Their Top Tips for Maximizing Profitability on Your Remodel

Understanding market trends is vital to planning successful home renovations in the vibrant and diverse Northern Colorado real estate landscape. Fort Collins, Loveland, and Greeley each present unique conditions that shape their real estate environments.

In Fort Collins, January 2024 saw a reduction in home sales compared to the previous year, registering the lowest monthly sales total in three years. Despite this slowdown, home prices rose, with the median price reaching $605K, a 3.4% increase from December 2023. The market also witnessed a slight increase in the Month’s Supply of Inventory (MSI), indicating a larger supply relative to demand​​. The Fort Collins housing market is projected to experience modest growth by early 2025, suggesting a resilient real estate environment in the area​​.

On the other hand, the Loveland market showed signs of change in June 2022, with a substantial increase in home inventory, signaling a potential easing of the upward pressure on prices. However, the overall sentiment is cautious as external economic factors like recession and inflation could impact the market's recovery​​.

Greeley's market presents a picture of strength and growth, with home prices trending upwards in 2023. Compared to its Northern Colorado neighbors, the city's affordability and a robust local economy featuring significant employers have contributed to a buoyant real estate market that remained resilient through 2024​​​​.

These market insights reinforce the importance of targeted and thoughtful renovations. For homeowners in Northern Colorado, focusing on the kitchen remains a sound investment. Neutral color schemes in kitchen spaces appeal to more buyers, enhancing the property's marketability. Similarly, investing in high-end finishes for primary bathrooms can significantly elevate a home's allure, particularly in areas such as Fort Collins, where the market shows a competitive edge​​.

When it comes to remodeling homes, few know the game better than Steve and Thaylta Swanson of Renovation Sells, based in the bustling market of Fort Collins, Colorado. As seasoned Renovation Specialists, they've mastered the art of enhancing a home's appeal to potential buyers, ensuring every dollar spent on renovation is a strategic investment toward a profitable sale. Here, they share their wisdom, focusing on the cornerstone of any home: the kitchen.

The Kitchen: The Deal-Maker or Breaker

"Kitchens sell houses," Steve Swanson states firmly, and for a good reason. The kitchen isn't just a space for cooking; it's the heart of the home, where families gather, and memories are made. Buyers walking into a well-designed, functional kitchen can easily envision themselves in the space, which is why the Swansons emphasize the importance of getting the kitchen right.

A profitable kitchen remodel isn't about lavish spending but about making intelligent, cost-effective updates with universal appeal. Neutral tones are the way to go; bold colors can significantly turn off potential buyers. Thalyta explains, "You want buyers to see a canvas they can personalize, not a statement that overshadows their taste."

Investing in Key Areas

While the kitchen significantly influences the home's overall appeal, the primary bathroom is another critical area, according to the Swansons. Low-end finishes in a primary bathroom can drag down the perceived value of the entire home. Conversely, high-end finishes in the primary bathroom and any guest bathroom can be the subtle difference that nudges a buyer from contemplation to offer.

Steve recommends focusing on details that exude luxury without breaking the bank. "Think frameless glass in showers, high-quality fixtures, and timeless tile work," he suggests. These elements give a sense of modernity and cleanliness, which are high on buyers' wish lists.

Areas to Approach with Caution

While extending the high-end finish throughout the entire home is tempting, the Swansons caution against overspending on areas with low returns on investment, such as basements. "Basements are often seen as bonus spaces," Thaylta notes. "Invest in making them clean and finished, but don't expect the same return as you would from main living areas."

The goal with basements is to show potential and functionality without diverting a significant portion of your budget away from the high-impact areas of the home. A well-presented basement can still be attractive for buyers, mainly if it offers flexible space that can serve multiple functions.

A Tailored Approach to Renovations

Understanding the local market is crucial to making informed decisions about where to invest in renovations. Northern Colorado's housing market has unique demands and trends, and the Swansons have their finger on the pulse. They

advise homeowners to research what's selling in their neighborhood and at what price points, tailoring their renovation efforts accordingly.

"Every home is different," Steve points out, "and so is every buyer. But everyone appreciates quality and thoughtful design." Their approach only covers some homes with the same upgrades. Instead, they evaluate the home's strengths and potential, enhancing them to meet market expectations.

Maximizing profitability in a remodel is about balance and strategic choices. The Swansons' recipe for success involves focusing on the kitchen, using neutral colors, upgrading primary and guest bathrooms with high-end finishes, and being cautious with basement renovations. Their expertise, honed in the vibrant Fort Collins real estate market, provides a blueprint for sellers looking to get the most out of their home renovations.

In the world of home renovations, where every choice comes with a price tag, having Renovation Specialists like Steve and Thaylta Swanson can be the difference between a remodel that's merely cosmetic and one that's financially astute. With their guidance, homeowners in Northern Colorado and beyond can confidently navigate their remodels, knowing that their investments are as smart as they are stylish.