When you're getting ready to sell your home, you want to do everything possible to get the maximum return on your investment. In this
for sellers to make on their house before listing.
Getting Ready to Sell Your Home
There are certain things you should start thinking about before you list your home for sale.?
- How can you make your home stand out from others on the market in your price range?
- How can you leave a strong lasting impression when buyers view your property??
The reality is that most homes need a little tender loving care before you put it on the market if you want to sell your home quickly and for the best price possible. This guide presents the best home improvements for sellers.
First Impressions Count: Landscaping is the Key
You've often heard the term "curb appeal". The fact is, most buyers almost instantly have a reaction, either positive or negative, when they first approach a house. And since the majority of people preview homes on the Internet, the way the exterior of your house looks is critically important. So cleaning up your yard and keeping it in tip-top shape is one of the most important investments you can make prior to selling your home. Think of flowers, bushes, potted plants,? tree trimming and uncluttering the back yard if you have one. Many real estate professionals suggest hiring a landscaper to give you a fresh set of eyes on your property. Think of new ground cover, lighting, rock features, paths, fencing and a well-placed bench.?
Return on Investment: a poorly maintained front yard can decrease your home value by up to 10%; while a beautiful outside can increase the value of your home by 5-10%. That's a 20% difference.
Paint, Paint, Paint
There's not a better investment you can make than painting?the interior (or exterior) of your home. Nothing brightens up a home more. When choosing paint, pick neutral colors, and stay away from
?dark or trendy colors. Think beige, eggshell and gray. Stay away from bold colors -- you may be able to pull it off, but the odds of most buyers having your exact design sense are pretty slim. Remember, they're thinking of how their furnishings are going to match, and the more neutral, the better.
Return on Investment: Almost always more than you put it into it. Do it yourself or hire a painting team. If you're using an outside team, always ask for an estimate in advance.
Unclutter and Consider Home Staging
There are very few homes in America that couldn't benefit from getting rid of (or storing) about a third of their furniture and belongings. The fact is, the longer you're in a home, the more likely you are to accumulate things. Houses?appear far more livable with more space, and uncluttering creates just that. You can also consider hiring a home stager. Staged homes sell far more quickly than non-staged homes. This ultimately leaves more money in your pocket, because if your home does not sell within a few months, you'll likely have your real estate professional asking for a 3-5% price reduction. If you don't want to go the full home staging route, ask an interior design specialist to work with you. It can make a huge difference.?
Return on Investment: A staged home provides 6-15% more than a non-staged home. And the longer your home sits on the market, the more likely you'll need to do a price reduction.
Flooring and Carpet
Take an honest assessment on what your flooring looks like. Adding new carpeting and installing new flooring can add quick value to your home and certainly increase its visual presence. Be careful with the colors you choose for carpeting, again going for the more neutral tones. And when it comes to flooring, you may want to restore hardwood flooring, but be careful not to install expensive, new hardwood flooring. That rarely if ever is a good return on investment. Many local retailers, including the big box stores of Home Depot and Lowes, offer great value on flooring. Carpet and paint can really help you give your home a fresh, updated look.?
Return on Investment: About even, although your home will most like sell faster.
Kitchen Improvements
If your home is more that 15 years old, you may want to consider countertop replacement and cabinet refurbishing. There are many inexpensive countertop options, and replacing your old countertop will give a new, modern feel to your kitchen. The same goes for kitchen cabinets, but think of restoring them first. For a fraction of the cost of new cabinetry, refreshing your existing cabinets through painting or staining can save you a lot of money. Consider new handles and pulls, recessed lighting and floor tiling. These improvements don't cost very much, yet can refresh a kitchen. As far as giving your kitchen a new look with expensive and modern upscale appliances? Unless you have a very upscale home, you may want to leave the appliance replacement for the new buyers. Click to read the Houses.com 2013 Guide to Kitchen Remodels.
Return on Investment: About even, although your home may sell sooner.
Master Suite
The first bedroom that most buyers will go to is the master suite. Who doesn't want to feel like they're waking up in some exotic vacation hotel?? Upgrading your master suite is an excellent investment and creates that "wow" factor that buyers are looking for. At the very least, invest in a new comforter set, and do all that you can to de-clutter. You might want to make room for a sitting chair. Look at your window coverings and possibly have them re-done. You may want to add a sitting area for putting on make-up, as long as you have room and it's clean and attractive. Think of sconces for lighting sources instead of nightstand lamps to give you more room. Create as much light as possible.?
Return on Investment: About 2-3% of a home's value, depending on the improvements you make.
Lighting Upgrades
A well lit, airy and open home generally shows better than the alternative. Consider upgrading your lighting fixtures, including your sconces, ceiling lights and kitchen lighting. A walk through the isles of your favorite home improvement store or lighting specialty store should give you lots of very inexpensive ideas. But look to keep the style of your home consistent. It doesn't make sense to have modern lighting in the kitchen but antique lighting in the living room. Think of a style you want to project for your house. If your house is 20-30 years old, chances are you can give it a fresher look with improved lighting. If you have a very dark house, see what you can do keep window coverings open, or add natural light through a skylight. ?
Return on Investment: About 1% of a home's value.
Bathroom Improvements
According to experts, a bathroom remodel will return your investment at the sale of your house, but be careful. Often times you may be able to replace the toilet and sink fixtures, and with some new tiling, paint and shower curtain, you may be to achieve your desired effect for a lot less. If your tub or shower is a true detriment to your house, consider replacing it. If you can get back with a less extensive restoration project, you're probably going to be able to save yourself some money. And while a bathroom remodel makes good financial sense, many experts suggest that adding another bathroom rarely if ever pays for itself in a home sale. So upgrade or remodel your bathrooms, but leave the extra bathroom installation for the new buyers.?
Return on Investment: Even, to about 1-2% of the home's value.
Attic Conversion to an Extra Bedroom or Loft
An attic conversion can be a nice way of adding extra space to a house, but you have to be very careful of the insulation, lighting and structural integrity. If you decide to go into this area, make sure that it appears to be uncluttered. If the roof is pitched, which in all likelihood it will, then make sure that the bed is placed so people don't have to duck to move around. You may also want to consider the ventilation and lighting needs of an attic conversion. Give it a clean, sparse, modern look that might appeal to child or a home office situation.?
Return on Investment: Possibly as much as 3-5% of a home's value, depending on the current layout of the house.
Basement Refurbishing
If you have a basement that was never used as an extra family room, TV room or game room, consider doing this upgrade. It can add a new level of family fun and add significant living space to the property. Many real estate professionals tell stories about bringing a family throughout the upgraded basement, because Mom may be thinking about a crafts room, Dad is thinking about his "man cave" or office, while the kids are thinking about their private game room. This is also an area where a home stager or interior design expert can give you low cost ideas to make the room more attractive.?
Return on Investment: 2-4% of a home's value.
Home Office or Extra Bedroom?
Should you convert that extra bedroom into a home office? Or should you keep your home office and not turn it into a spare bedroom? Well, most experts?suggest that turning the extra bedroom into a home office is a mistake, since bedrooms carry a higher home resale value than a home office. One thing that you could do is possibly combine both. Having a small, uncluttered desk with a computer may be possible if the room is big enough. But stay away from a heavy, wooden desk and particle board recreations. Instead, go with an inexpensive glass desk that gives the feeling of roominess and keeps the room feeling airy.??
Return on Investment: A home office may reduce the home's value if it was originally a bedroom.
Home Improvements that Almost Never Add Additional Value
While we're at it, here are some things to avoid when preparing your home for resale.
Swimming Pools
While having a swimming pool may increase your popularity with neighbors and your kids' friends, it won't add much to the home resale equation. Many buyers simply don't want the upkeep or liability of a pool. If there's space, and your new buyers want it, let them go through the trouble and expense to install it. If you have one, make sure the pool area has been cleaned, looks inviting and appears safe.
Converting a Garage into a Family Room
While you might appreciate the extra room, most people want the inside space for their cars. So don't put in a new family room into a garage, because the need simply isn't there and it will be hard to get your money back out of it when you go to sell.
Tennis Courts, Saunas, Putting Greens or Other Luxury Items
These look cool, but let's face it, these all cost money to install and are hardly utilized. ? Now, putting these into your new home for you is fine, just don't expect it to add value to your home.
The Bottom Line
If you're like most people, your home is probably
?your biggest investment. You want to get the most out of it when you're selling it. Simple and cost effective things like painting, new carpets, home staging and updating certain elements of your home can go a long way. Despite what some people will say, putting your home on the market is an inconvenience. You want your home to sell fast, and at a good price. You must make your home stand out. Pick a real estate professional?who is busy and knows your local market. With the help of this guide, you'll be well on your way to maximizing the value of your home. Happy home selling from Houses.com!
Source: http://www.houses.com/Learn/HousingNews/home-improvement-tips-for-sellers-add-value
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