Every home seller wants to get the highest price for the sale of their home but how many really know what to do and what not to do to get the most return for their investment? There are many home improvements that can be done. Which home improvements are proven to bring the highest return and which home improvements can be nothing but a money pit? One of the best things to do while getting started is to walk your home inside and out and look at it from the eyes of the buyer. When you pull up in front of your home, does it have great curb appeal? What is the first impression? This is very important to remember because we never get a second chance to make a first impression. Next, walk around the yard and look at the grounds, the plants, flowers and trees. Do they look healthy, green and lively? Is the front and back yard free of debris? What is the condition of the exterior of the home, the light fixtures etc? This is called the observation step of getting a home ready to bring top dollar and it is a very important step when getting started. Now let's take a look at what has been proven to bring a strong return on investment to fix a property to sell.
The number one item is paint! Having good exterior and interior paint has proven time and time again to bring top dollar upon sale. Buyers want a home that looks clean and presentable and there's nothing like a good quality paint job to make a home shine. Studies have also shown that a fresh paint job will speed up the time it takes to sell a home.
The number two item is the kitchen! A great kitchen can mean serious profit when selling a home. The kitchen for many buyers is the heart of the home and therefore a very important area to consider. Changing old fixtures, cabinets and flooring can be a good place to start in the kitchen and can make a significant difference in the way a kitchen looks. If one really wants to bring a great return upon sale, a home seller can change the sink, counter tops and the appliances to make the kitchen look like a center piece. This is a great area because a little or a lot of money can be spent upgrading the kitchen. In general, for every $5,000 spent could bring as much as $15,000 in return.
The number three item is useable space! A good home can become great if it is completely functional and has all useable space. Many times the way a home is laid out can be improved by knocking out a dysfunctional wall, adding a bathroom or a bedroom, or turning a previously unusable room into a room that has a purpose. Look around the home to look for areas that fit into this category and figure out how they can be expanded or refurbished to bring extra value.
The number four item is adding an extra bathroom or upgrading bathrooms! This is a very important area of the home being functional, comfortable and convenient. If the home has two bedrooms and one bathroom, adding a second bathroom will add great value. The average cost to remodel a bathroom with all the bells and whistles is on average $11,000. In most cases this will do more than just pay for itself! It will add a much greater value, make the home more saleable and bring more money upon sale. Another selling point for bathrooms is to make sure there is plenty of light or adding a skylight can bring extra value.
The number five item is adding a redwood deck or enclosed patio! This is a great way to improve the look of the home from the outside. This is also a great way to add extra space and make the home more functional. Many people love to be outside when the weather is nice, barbeque and entertain family or friends. The key to this element is to make sure to use quality materials. This is not an area to cut costs.