Price Increasing Projects
The real estate marketing is heating up across the country. But just because homes are selling quickly doesn’t mean sellers are getting top dollar for their investment. There are plenty of ways to boost the value of your home sale without investing time and money in a huge home improvement project right before you move. Take a look at these 10 projects that can mean the difference between your asking price and a much more lucrative offer.
#1 Replace the Front Door
Besides improving curb appeal, a steel entry door replacement has an average job cost of $1,230 and resale value of $1,252, representing a 101.8% return on investment. These numbers come from the 2015 Cost vs. Value Report from Remodeling Magazine, which is an excellent resource for anyone looking to estimate a home improvement value.
#2 Give Your Home a Face Lift
Repainting the entire house is a significant expense but a quick “face lift” of key areas like the front window trims and entry way can go a long way toward upgrading the overall look. Also replace any torn screens and keep a warm-toned porch light on in the evening in case prospective buyers take a drive to see what the home looks like at night.
#3 Refresh the Siding with Stone Veneer Panel Installation
According to HouseLogic, no other feature has as much impact on curb appeal as siding. Old, damaged siding can degrade your home’s value by up to 10%. On the upside, three of the top 10 long-term average values from the Cost vs. Value report are siding related. Again, you don’t have to re-do the entire house. Consider an update with stone veneer siding to cover exposed slab foundations like the wainscoting before and after above to upgrade the overall look.
#4 Go Neutral
You may love your eggplant and ochre guest room, but it could completely clash with a potential buyer’s sense of style. Repaint any bold colored walls with a neutral tone to allow buyers to project their own taste into the space. A fresh coat of paint in any color also goes a long way towards making a home feel updated.
#5 Give the Floors a Once Over
Real estate agents say the condition of your floors is a major factor in how well-maintained your home appears to buyers. Polish hardwood floors and shampoo carpets before going to market. It’s also worth the effort to repair any broken tiles or peeling linoleum.
#6 Hide the Eyesores
Electrical boxes, piping and wiring on the home’s façade can all downgrade your home’s visual appeal. A simple coat of paint in the same color as the exterior makes them blend in and reduces the visual clutter. Other options are to plant thick bushes or trees to block them from site (but be sure to leave access for meter readers and maintenance).
#7 Polish Up the Bathroom
Save the complete bathroom remodel for your new home. Instead, invest in re-glazing the tubs and tile floors. This project typically costs about $1,500, compared to more than $15,000 for a full bathroom remodel. Add some brand new towels, clear away any clutter and you can make the room feel brand new on a small budget. Realtor Tip: Keep your toiletries contained in a caddy while your home is on the market. When a showing pops up you can stash the caddy quickly instead of picking up individual bottles and cosmetics.
#8 Let There Be Light
Consider installing an impressive light fixture in the entry way or dining room. This one element can add a lot of drama and style to any home. You can take the fixture with you to your next home, or add it in to the negotiation if a buyer falls in love with it.
#9 Garage Door Update
Garage door replacements are high on the Cost vs. Value list of all-time winners. Replacing an older, two-car garage door with a new steel one typically runs about $1,600 and over the years this project has averaged an 80.7% return on investment. However, it may be less of priority on a home where the garage faces an alley or is behind the home rather than part of the façade. Check out this great idea for using a $7 hardware kit to upgrade an existing garage door as well.
#10 Landscape 101
You don’t have to break out the tiller and put in new garden beds, but a landscaping once-over can add some color and freshness to your property. Put down new mulch in (fully weeded) garden beds, trim the trees and bushes, rake the yard and plant some annuals for pops of color. Or add planters and hanging baskets that will allow you to take the new plants with you when you move.
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