Thursday, October 24, 2019 / by Jacque Eaker
This depends on many factors such as how quickly you want to sell your home, what the competition is like in your neighborhood and how your home compares to other similar homes on the market. Major repairs may or may not pay off. It is recommended that sellers complete a “pre-listing home inspection” prior to placing their home on the market.
Homeowners are always looking for remodeling projects that will not only improve their quality of life while they’re enjoying their house but will also provide a big return on investment when it comes time to sell. No project recoups all the money you dump into it, but some cases come close.
Keep in mind the difference in “home improvement” and “home maintenance”. These are two very different types of projects. Replacing an old broken-down fence will not add value. However, installing dual-pane windows to increase heating efficiency does add value and the buyers will recognize this.
For the exterior, you want to make sure the yards are clean and bushes are trimmed. No weeds in the flower beds. Add sod if you have bare spots. Get rid of broken or worn patio furniture. Put away the garden hose, etc.
The best-performing project is a garage door replacement. The average cost is $3,611 and the average gain in home value is $3,520. That is an average return of 97.5%. Adding manufactured stone veneer is another giving a return of approximately 94.4%.
A kitchen remodel will give an average return of 80.5%.
Taking care of the most important things to repair before selling a house will put money in your pocket.
The colors you choose to paint the interior and exterior make a difference in its resale value. A black-painted front door can create an increase while a brick or barn red in the kitchen will create a decrease.
Paint is one of the cheapest, easiest ways to update the look of your home before you list it. Lighter and neutral colors are preferred when selling because they tend to appeal to most people. You don’t have to paint every room, just those that obviously need it. If the current paint is dark, chipped or dirty, you’ll want to paint those.
If you have wallpaper, get rid of it. Wallpaper really dates a home. And by not removing it and trying to give the buyer an allowance on it is a mistake. It defeats the whole purpose. By removing the wallpaper yourself, you will have a better chance of putting more money in your pocket. You get only ONE CHANCE to make a first impression. You want it to be a good one.
To help update the kitchen without “really doing an update” is to paint the walls for a fresh clean look. Install new fixtures and replace the countertops to something more appealing (does not have to be marble or granite) especially when the countertop is not huge. Regarding appliances, they all should be working and not in awful shape. Sometimes replacing them is what is going to be appealing to the buyers.
The bathroom should be CLEAN and everything should be working well. The toilet, shower head, sink stopper, tub stopper, all drains should drain easily. Make sure grout is cleaned and tiles are all intact.
Make sure you have good lighting. Correctly placed lighting can make a small room look much larger. And mirrors also help with visually enlarging a room. If you have old heavy drapes, toss them! Install the much lighter colored curtains that let in the sun.
There is nothing like entering a home where the hardwood looks spectacular. The great thing about refinishing hardwood floors is the return on investment which is very high.
Keep an eye out for the small things. Make sure the outlets are clean or replace them. The doorknobs are all working correctly, and the same for all the switches.
Most buyers will order a Home Inspection to be done. This gives them the opportunity to negotiate the price if deficiencies are found. By having a home inspection done before you list it, that limits the buyers' leverage.
The goal is to get the most for your home. By taking steps in maintenance projects and some improvement projects, if needed, will most certainly help you get a better price.
Sometimes getting a home ready to sell can be as exciting as buying a home. If you are thinking of selling your home I would love to help! To contact me, or for more information, you can reach me anytime at (509) 270-7360 or at email@example.com.
It would be my pleasure to hear from you!
Jacque Eaker, Realtor
Haven Real Estate Group