If you’re a homeowner considering a move, you may be wondering what’s next. Do I need to renovate the kitchen? Repaint the exterior? Replace the flooring? Before taking on a costly remodel, consider this: these measures don’t always recoup the highest percentages in return. Instead, many sellers have much more success by investing in upgrades that boost their home’s value in the process.

Free Download: Home Sale Preparation Checklist

Consider the cost to sell your home, so you can figure out how much you will have to buy another or relocate.

Consumer Reports recommends completing these updates:

1. Paint critical rooms.
Painting is one of the least expensive ways to freshen up your home for sale, but it can cost up to $300 a room if you’re hiring a pro to do your entire home. So instead, save big by painting just a few areas: high-traffic rooms, like the kitchen and bathrooms, and rooms with brightly-painted walls. You can save even more by doing the project yourself – a gallon of paint averages about $30.

2. Spruce up the exterior.
Your home’s exterior is the first impression for many buyers online and in person. So aside from keeping up with maintenance like mowing the lawn and trimming shrubs, assess the outside of your home for any repair work – a fading front door, cracked siding, or a loose step – for repair before selling. And don’t forget about the roof. If it needs replacing, choose an inexpensive but durable option, like standard, three-tab asphalt shingles. They cost approximately $75 per 100 square feet, including installation. Free guide: Curb Appeal 101

3. Upgrade the bathroom.
Bathrooms can become a point of contention for buyers if they’re not in tip-top shape. So rather than taking on an expensive renovation, make minor upgrades that impact. For example, caulk the tub, re-grout tile, and install new fixtures. More significant, less costly fixes are also possible if you know where to look – a new vanity can cost less than $1,000 if you shop around.

4. Make kitchen repairs.
Buyers want to be wowed by the kitchen, but that doesn’t mean you have to fork over tens of thousands of dollars to make that happen. Instead, focus on making repairs that cost well under $500, like tightening a leaky faucet or eliminating burn marks on countertops. Also, consider updating your hardware in a modern finish for a cheap alternative to repainting your cabinets.

5. Clean, clean, clean.
Even if the home has undergone renovations from top to bottom, a messy appearance can be the ultimate deal-breaker. Fortunately for sellers, de-cluttering and de-personalizing don’t have to cost a dime. A shortlist that will help buyers visualize living in the home:

• Vacuum, dust, and wipe all surfaces regularly while your home is on the market.
• Pare down closets to the bare essentials.
• Replace family or otherwise personal photos with neutral wall art.
• Cut the clutter in cabinets and on bookshelves.
• Keep counter and tabletops clear, especially during an open house.

If the project is overwhelming, consider hiring a professional cleaning service or organizer to cut through the chaos. A pro can cost anywhere from $600 to $2,500.

Source: Consumer Reports

Reprint with permission from RISMedia. ©2015. All rights reserved.

 

 

 

Leave a Comment