Profitable Home Improvements
Home Remodeling is a concern of many Real Estate sellers. Most houses can use some repairs, but how much time and money should a seller invest to increase the sales price of a home.
The rising prices of real estate have recently increased the range of profitable repairs and improvements. The following list covers common remodeling work and the expected return on each as an investment:
landscaping |
110% |
kitchen |
105% |
adding an extra bath |
100% |
Paint |
90% |
Bathroom remodeling |
80% |
Add a deck |
70% |
Replace Windows |
70% |
Add a room |
55% |
Finish Basement |
40% |
Keep in mind that these are Averages. Your
results depend on the overall value of
your home. Is the improvement a needed
repair that will save the home from being “discounted” because
it is below neighborhood standards in that
area? Obviously if your windows are
80 years old and in poor condition, you
will reap an above average return on window
replacement.
Everyone has their own favorite color and
many home buyers will repaint houses even
if they were just painted. However,
if the paint is in poor repair you might
consider painting. If you do repaint stick
with neutrals colors or white because they
don't date themselves. Bright colors
also make spaces look larger. Look
to a professional for the job. Professional
painters have tools that make the job go
faster and provide a better end result. If
you consider the value of your time a pro
might actually save you money.
Some simpler ideas for a fast sale and
the best price are
- Remove clutter – rent a storage unit for non-essential furniture and extra personal items. This will make you house seem much larger and more inviting to buyers
- Replace old accessories – Upgrade your bathroom towels and soap dishes to create a more elegant atmosphere. Try this in other rooms.
- Organize your closets and storage areas. – with the items you cannot put into storage, make sure they are meticulously organized. Buyers love to snoop in closets and they are attracted the illusion of order.
