1. Avoid a Seller's Market
According to recent real estate data, Lancaster County’s median sold price increased by over 10% in the past year, continuing its strong upward trajectory.
Within Lancaster County, several hidden gems deserve attention. Manheim Township, Leola, and Lititz have all experienced notable growth in their housing markets:- Manheim Township: As of December 2024, the median home sold price was $390,000, reflecting a 4% increase from the previous year. Additionally, 44.4% of homes sold above the asking price, indicating a competitive market.
- Leola: In December 2024, the median home sold price was $332,500. While this represents a 6.6% decrease from the previous month, it's essential to consider monthly fluctuations within the broader annual context.
- Lititz: The housing market in Lititz saw a 9% increase in home prices compared to the previous year, with a median selling price of $365,000 in December 2024. Homes in this area sold rapidly, averaging just 7 days on the market.
With the housing market booming, it might be tempting to sell your home for a profit and search for a new one. However, in such a competitive seller's market, buyers often face challenges, including homes selling above asking prices shortly after listing.
Instead of navigating this competitive landscape, consider remodeling your current home. Remodeling allows you to create a space tailored to your needs without the stress of moving. Having lived in your home, you're well-acquainted with its strengths and areas for improvement, enabling you to make informed decisions during the remodeling process.
2. Achieve Significant ROI
If you're going to stay in your home now, but plan to sell in a few years, it is important to consider the return on investment (ROI) you'll receive from any improvements to your home. Having inefficient spaces or antiquated styles can significantly decrease your home’s value if you eventually decide to sell. Any work done on your house is considered an investment, and the value of it is measured by how much of the cost to remodel you’ll recoup when eventually selling your home.
Remodeling can increase your home’s value by double digit percentages, especially when the focus is put on bathrooms and kitchens, as these tend to endure the most use, damage, and are the quickest to become outdated. Even a small kitchen or bath refresh can recoup up to 75-85% of its cost in added value, according to Nerdwallet.
You get the best of both worlds if you remodel earlier in your occupancy by increasing your eventual selling value, while also getting to enjoy the benefits of a quality remodel yourself.
3. Take Advantage of Timing
Even if you are in the process of moving to a new house, remodeling can still be a good consideration! As demand continues to rise in 2025, many buyers are prioritizing location and lifestyle over a home’s existing layout or finishes. Planning a remodel as part of your buying strategy can give you access to homes in prime locations while allowing you to customize the space to your preferences.
In addition, remodeling a new home can sometimes allow for the work to be done before you even move into the house, making the timeline of your remodel even less invasive to you and your family.
So, don’t let a home's suboptimal flow or dated features keep you from choosing what would otherwise be a perfect home. Instead of resigning yourself to the “quirks” of your new home (we’re looking at you, orange varnish and shag carpeting), you can rest easy knowing that your dream home is just a consultation away.
No matter your situation, remodeling is an excellent way to increase your home’s value and create a space tailored to your lifestyle. Whether you’re staying in your current home or upgrading to a new one, our team is here to guide you through every step of the process.
Why Choose McLennan Contracting?
We specialize in design-build remodeling, offering homeowners a streamlined process with seamless communication and outstanding results. Our team ensures your project stays on schedule and within budget, giving you peace of mind from start to finish.
Explore our blog posts and resources to learn more about the remodeling process, and when you’re ready, schedule a free consultation to start your journey toward a more functional and beautiful home.