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Things that will add value to your home when selling
Posted on 10/26/13 at 10:46 am
Posted on 10/26/13 at 10:46 am
I'm putting my home on the market. Haven't touched it in 10 years and now paying my dues - playing catch-up. Also trying to maximize ROI on improvements to increase eventual sale price.
Here's my short list. (I welcome your opinions.)
New paint throughout - even the garage. Retouching trim and baseboards.
Upgrading appliances: stove from elec to gas + stainless, stainless dishwasher, stainless microwave. I already have granite counter tops.
My smallish backyard is deplorable - big oak tree/low sun/grass won't grow. Seriously thinking about a new deck. That would be perfect but not sure about the ROI in this addition.
Roof is 15 yrs old; no leaks; shows some "lichen". Would rather make a roof allowance than replace.
Carpet isn't the greatest (old Berber) but cleanable. Will consider carpet allowance.
Thanks in advance for your suggestions...
Here's my short list. (I welcome your opinions.)
New paint throughout - even the garage. Retouching trim and baseboards.
Upgrading appliances: stove from elec to gas + stainless, stainless dishwasher, stainless microwave. I already have granite counter tops.
My smallish backyard is deplorable - big oak tree/low sun/grass won't grow. Seriously thinking about a new deck. That would be perfect but not sure about the ROI in this addition.
Roof is 15 yrs old; no leaks; shows some "lichen". Would rather make a roof allowance than replace.
Carpet isn't the greatest (old Berber) but cleanable. Will consider carpet allowance.
Thanks in advance for your suggestions...
This post was edited on 10/26/13 at 10:49 am
Posted on 10/26/13 at 11:38 am to tigerpawl
All good ideas, & you will see a return on cleaning up the yard, front and back, and this can be done pretty cheap.
As far as carpet/roof, let the buyer tell you it needs replacing. The worst thing you or an agent can do is offer that your house is lacking somewhere IMO. If buyer thinks its shitty, I guarantee they will let you know.
As far as carpet/roof, let the buyer tell you it needs replacing. The worst thing you or an agent can do is offer that your house is lacking somewhere IMO. If buyer thinks its shitty, I guarantee they will let you know.
Posted on 10/26/13 at 1:50 pm to ItNeverRains
Staging and clearing all the clutter from your house is the best bet. You won't get your money back on anything unless you do it yourself. A deck would be a good idea if you can do it yourself.
Posted on 10/26/13 at 1:56 pm to barry
Adding values and adding appeal are often confused.
Deck= no value
Deck= no value
Posted on 10/26/13 at 3:00 pm to Chad504boy
Explain appeal and how you can add it without value
Posted on 10/26/13 at 3:02 pm to barry
More interest and such but an appraiser doesn't add value to home for it. Price per sq ft nearly end of story
Posted on 10/26/13 at 3:47 pm to Chad504boy
It doesn't matter what an appraiser thinks. The value of the house is how much someone will pay. Adding a deck adds some value to a house. Because on average people will pay more, how much more is the question.
Posted on 10/26/13 at 4:02 pm to barry
Today's lending market It absolutely matters man
This post was edited on 10/26/13 at 4:03 pm
Posted on 10/26/13 at 4:22 pm to Chad504boy
quote:Point well taken...
Adding values and adding appeal are often confused.
Posted on 10/26/13 at 6:28 pm to tigerpawl
Lichen on the roof? We had a fungus on our roof and had it cleaned and it looks like new.
Posted on 10/26/13 at 6:30 pm to tigerpawl
As has been mentioned, curb appeal is #1 along with a clean, neat and fresh smelling interior with no eye sores.
The suggestion of cleaning up the yard is paramount. Go hire some high schoolers or cheap labor looking to make some extra money for a weekend to cut, edge, hedge, weed the beds, "leg up" the low oak tree, pressure wash all the surfaces and clean up the mess, then plant landscape that adds color. And if needed add sod or winter grass that will grow better in the shade (consult someone who knows what works best during the season you are selling).
Once the yard is cleaned up, paint the exterior with a popular generic color like white/off-white without ugly tones like pink, no bright colors, and repaint the trim. Painting adds a ton of value if you do it yourself and pick the right colors for the house and it's trim, but its time-consuming and tedious labor. Also, ask a friend who has an account with a paint store to buy the paint with his/her discount (contractor, designer or even a painter). Consult an interior designer for colors if you don't have an eye for that kind of thing.
Finally, clean and stage the house. Stage it by removing a bunch of your personal clutter and pictures, move the furniture to create more space and add nice looking art at eye level. This is something that is a pain in the arse, but if you remove a bunch of clutter and crap from your house (we all have it) and add a few decorator touches it will help.
Don't offer anything if you haven't been told you need it. If the house seems to sit on the market, have an open house and ask agents for suggestions of why it's sitting. Price will likely be mentioned, but listen for more detailed/constructive suggestions. If you need the allowances based on their suggestions, then offer it.
Good luck
The suggestion of cleaning up the yard is paramount. Go hire some high schoolers or cheap labor looking to make some extra money for a weekend to cut, edge, hedge, weed the beds, "leg up" the low oak tree, pressure wash all the surfaces and clean up the mess, then plant landscape that adds color. And if needed add sod or winter grass that will grow better in the shade (consult someone who knows what works best during the season you are selling).
Once the yard is cleaned up, paint the exterior with a popular generic color like white/off-white without ugly tones like pink, no bright colors, and repaint the trim. Painting adds a ton of value if you do it yourself and pick the right colors for the house and it's trim, but its time-consuming and tedious labor. Also, ask a friend who has an account with a paint store to buy the paint with his/her discount (contractor, designer or even a painter). Consult an interior designer for colors if you don't have an eye for that kind of thing.
Finally, clean and stage the house. Stage it by removing a bunch of your personal clutter and pictures, move the furniture to create more space and add nice looking art at eye level. This is something that is a pain in the arse, but if you remove a bunch of clutter and crap from your house (we all have it) and add a few decorator touches it will help.
Don't offer anything if you haven't been told you need it. If the house seems to sit on the market, have an open house and ask agents for suggestions of why it's sitting. Price will likely be mentioned, but listen for more detailed/constructive suggestions. If you need the allowances based on their suggestions, then offer it.
Good luck
Posted on 10/27/13 at 12:14 am to barry
quote:
Staging and clearing all the clutter from your house is the best bet.
This is seriously good advice.
Posted on 10/27/13 at 8:41 am to Bama54
if you have a nice back yard area add a little outdoor kitchen. just a grill and fridge nothing to crazy.
Posted on 10/27/13 at 8:45 am to tigerpawl
This may not apply to your location but I have noticed in my area that home buyers want move in condition. Go look at some new homes in your area and see how they are decorated (colors and textures). Scratch the carpet allowance and get it done.
Young buyers especially want the amenities of new homes, without the price of new homes.They want attractive and up to date light fixtures and hardware. Desire granite even in bath vanities.
As far as the basic home repair, appraisers and home inspectors are being very picky. Will nitpick the house.
For the back yard, I would not spend the money on deck. I would get a load or 2 of attractive mulch and some inexpensive plants and make it attractive.
Young buyers especially want the amenities of new homes, without the price of new homes.They want attractive and up to date light fixtures and hardware. Desire granite even in bath vanities.
As far as the basic home repair, appraisers and home inspectors are being very picky. Will nitpick the house.
For the back yard, I would not spend the money on deck. I would get a load or 2 of attractive mulch and some inexpensive plants and make it attractive.
Posted on 10/27/13 at 9:44 am to tigerpawl
quote:
New paint throughout
I thought the same thing when I sold my house. I put it up for sale by owner and started doing some fix up work. When the eventual buyer came along I had just painted one wall in one room.
The buyer said "Stop painting. It's not the color scheme we want. We'll paint after the purchase before we move in."
Posted on 10/27/13 at 10:33 am to tigerpawl
There is very little you can do to increase the value of your home that is cost effective. Why would a home buyer pay you more for improvements to the home than they could pay to have the improvements done themselves, and to their exact specifications? The only reason I can imagine for purchasers to do so is to get the costs of improvements into the purchase cost for purposes of financing.
Improvements should have been made to enhance your living experience in the home. Anything you do now is basically speculation. You would be risking money that you will increase the appeal of the home to prospective buyers enough to recoup the costs of the improvements. If you need to make structural repairs to gat the property sellable, then improvements might be better justified. But your best bet is to only make cosmetic changes.
Improvements should have been made to enhance your living experience in the home. Anything you do now is basically speculation. You would be risking money that you will increase the appeal of the home to prospective buyers enough to recoup the costs of the improvements. If you need to make structural repairs to gat the property sellable, then improvements might be better justified. But your best bet is to only make cosmetic changes.
Posted on 10/27/13 at 2:44 pm to Poodlebrain
quote:
Poodlebrain
Solid Post.
Posted on 10/27/13 at 7:23 pm to barry
quote:This is true only if not getting a mortgage. You won't get mortgage for more than fair value, which is what appraiser is for.
The value of the house is how much someone will pay
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