Home Improvements: Some Sell, Some Don’t
By Cecilia Sherrard
If you’re planning to sell, you’ve probably already looked around and
decided to make some changes. Before going about drastic large
improvements, consider your return on investment. Investing time and
moneymaking upgrades thinking it will help your home sell for more,
could actually harm you. Some of these upgrades may include, adding a
green house, swimming pool, unique landscaping including waterfalls,
drastic color changes in or out of the home, even flooring options.
There are many upgrades of course that will help your bottom dollar
significantly. The following are estimated rates of return.
– 150 percent – today’s kitchens are elegant, simple,
functional and stand to be the most important room in the home.
Landscaping and Lawn
- 100 percent - Even a few hundred dollars invested
in lush grass, flowers, and shrubs may increase your curb appeal and
sale price significantly.
– 100 percent – Fireplaces add warmth and appeal to the home.
Upgrading an existing fireplace or installing a new one can bring value.
There are so many options today with energy efficient gas models, you
almost can’t go wrong.
– 90 percent – Even a small second half bath can add
value and be the final “sold” factor. In today’s market, additional
bathrooms are desired. Decorate bathrooms with warmth and care. Leaving
out all signs of personal use is a must. A remodeled bath can add 60-80
percent. Master baths are desirable as well as double sinks.
– 70 percent – Outdoor living is in demand and can bring an added
smile after walking through the home. Seeing a nice surprise when
walking outside is always a good thing. Freshly painted or low
maintenance decks are a plus.
Painting The Exterior
– 50 percent - Probably the best idea for added
curb appeal, while making the home look fresh and well maintained
– 40 percent – An already existing space can be made
into a living area that will be of value to a buyer. Walk out basements
will create even a higher return.
– 40 percent – Although buyer’s opinions may
vary with this upgrade, replacing old furnaces, A/C, H20 tanks, etc. can
certainly increase value. Your return however, may not bring as much as
you would like. It’s probably best to only replace if needed.
– 35 percent – They certainly make the home look better
and more modern, but they are almost considered a normal feature in
today’s market. Energy is a huge factor to many homebuyers.
Knowing how to effectively market these upgrades can help bring even
more awareness and attention to the offer amount.