POINTS OF INTEREST for a SELLER
Are you renovating or updating your home hoping to get all that money invested back? Well if so you may be in for a surprise. Here are some average paybacks of typical renovations. The market in your area can vary so this is just a guideline. Be sure to check with a licensed Realtor to get a more accurate figure.
Average paybacks of typical renovations
| Kitchen |
68-73% |
| Bathroom |
64-71% |
| Interior painting |
62-66% |
| Exterior painting |
62% |
| Main floor/family room |
49-56% |
| Finished basement |
50-52% |
| Upgrade heating system |
48-50% |
| Landscaping |
45-49% |
| In-law suite |
40-42% |
| Central air conditioning |
38-43% |
| Energy efficient upgrades |
33-39% |
If you are serious about selling you will have to put a little bit of effort into preparing your home for potential buyers. The ‘curb appeal’ is very important to more than 50% of buyers. The next time you drive up to your house look at it with a critical eye and see if there may be some pruning, painting or cleaning that needs to be done. Once inside try to pack away unnecessary clutter from each room. Do a ‘spring cleaning’ to freshen up bathrooms, pet areas, and basements.
Repair what you can manage, don’t try to tackle a project too big. Neutral colors have always worked well to sell a home, but the good news is you don’t have to turn everything beige. Paint is actually one of the easiest cosmetic fixes, but unless it needs to be refreshed, don’t bother. The new owner will have their own color preferences. Try to find an idea from a magazine or t.v. show to make something about your home stand out and say “pick me!”. Call me before, during, or after these tips, to go through the listing and selling process of your home. Don’t forget: when you sell your home there will be legal costs in addition to paying a commission.
Please contact me if you have any questions or comments.
|