Selling Your Home? – Top 8 Returns on D.I.Y. Fix-up Dollars

Foreclosures continue to negatively impact the housing market.  Homeowners wishing to sell their home today must do everything possible to differentiate their home from other homes on the market.  Spending a few dollars before putting your home on the market can pay big dividends if you know how to spend those dollars wisely.

HomeGain recently surveyed nearly 600 real estate agents nationwide to determine the top 10 low-cost (less than $5,000), do-it-yourself  home improvements for people getting their home ready to sell. The following are the top 8 do-it-yourself projects for under $1,300.  Note: Costs and returns are national averages.

8. Paint Interior Walls. Repair any damaged interior walls by patching all chips, holes and cracks; then touch up or repaint interior walls with neutral color. All woodwork like stairwell railings and doors should be repainted and or stained.

  • Average Cost – $1,012
  • Increase in Selling Price – $2,112
  • Average Return on Investment – 109%

7. Replace or Shampoo Carpets. If carpets are only lightly soiled, shampooing and/or spot removal should suffice. If your home has hardwood floors with room-size rugs, get the hardwood into its best condition with fresh non-slip floor polish or other coating to make it shimmer.

  • Average Cost – $647
  • Increase in Selling Price – $1,739
  • Average Return on Investment – 169%

6. Update Kitchen and Bathrooms. Update kitchen and baths by resurfacing cabinets or painting with neutral color. Replace toilet seats, dated fixtures and drawer/cabinet handles. If the appliances are included with the sale of your home, make sure they are operating and have proper documentation such as warranties and repair information.

Average Cost – $1,265

  • Increase in Selling Price – $3,435
  • Average Return on Investment – 172%

5. Repair Plumbing and Electrical. Consider repairing or replacing any defective plumbing or electrical items in your home. Make sure that all smoke and burglar alarms are functional.

  • Average Cost – $535
  • Increase in Selling Price – $1,505
  • Average Return on Investment – 181%

4. Landscaping. Hire gardener or landscaper to trim back the overgrowth and maintain yard. Add colorful plants or flowers near front door and porch area.

  • Average Cost – $540
  • Increase in Selling Price – $1,932
  • Average Return on Investment – 258%

3. Home Staging. Buy some fresh flowers, live plants and other decorations to liven up the home. Consider hiring a staging consultant. Set the dining room table for a dinner party.

  • Average Cost – $550
  • Increase in Selling Price – $2,194
  • Average Return on Investment – 299%

2. Lighten and Brighten. Replace any burnt-out bulbs and use higher wattage bulbs, if possible. Keep drapes open during the day. Turn on enough lights so home is well lit during showing.

  • Average Cost – $375
  • Increase in Selling Price – $1,550
  • Average Return on Investment – 313%

1. Clean and De-clutter. Rent a storage space or sell excess items, if needed. Keep every room very clean during open homes. Appliances should be cleaned – inside and out

  • Average Cost – $290
  • Increase in Selling Price – $1,999
  • Average Return on Investment – 586%

The article above is excerpted from HomeGain’s 2011 Home Sale Maximizer Survey, initially posted by: Louis Cammarosano on January 18th, 2011.  Read the entire article HERE

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: