Top 5 Home Improvements
by Tyler on 11/08/09
Anyone who has been looking for a home to purchase recently can tell you that appearance makes all the difference. With so many foreclosed and distressed properties on the market at the moment, sellers need to make it a point to stand out from the rest by impressing potential buyers. You don’t need to go and spend an arm and a leg on touch ups or improvements. Be smart and cost effective when it comes to sprucing up your home. A recent survey done by HomeGain shows the top do-it-yourself home improvements that Realtors® recommend to sellers. The survey included responses from nearly 1,000 Realtors® nationwide. A list of 12 do-it-yourself home improvements was configured that cost under $5,000.
The Top 5 from highest to lowest return on investment(ROI):
- Cleaning and de-cluttering: ($200 cost / $1,700 price increase /872% ROI)
- Home Staging: ($300 cost /$1,780 price increase / 586% ROI)
- Lightening and Brightening: ($230 cost / $1,300 price increase / 572% ROI)
- Landscaping ($320 cost / $1,500 price increase / 473% ROI)
- Repairing Plumbing ($385 cost / $1,250 price increase / 327% ROI)
Cleaning and de-cluttering remains on top of the list year after year. It’s something that doesn’t cost a fortune and can make the house look like night and day after it’s complete. Sellers who listen to their Realtor® and make these recommended improvements often sell their home faster and at higher prices. Rounding out the top 12, DIY home improvements include: updating electrical, replacing or shampooing carpets, painting interior walls, repairing damaged floors, updating kitchen, painting outside of home, and updating bathrooms. Updating your kitchen will produce the highest price increase to a home’s resale. However, make sure you are cost effective when doing such a big renovation.
