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Profitable Home Improvements

Home Remodeling is a concern of many Real Estate sellers.  Most houses can use some repairs, but how much time and money should a seller invest to increase the sales price of a home.

The rising prices of real estate have recently increased the range of profitable repairs and improvements.  The following list covers common remodeling work and the expected return on each as an investment:

landscaping

110%

kitchen

105%

adding an extra bath

100%

Paint

90%

Bathroom remodeling

80%

Add a deck

70%

Replace Windows

70%

Add a room

55%

Finish Basement

40%

Keep in mind that these are Averages.  Your results depend on the overall value of your home.  Is the improvement a needed repair that will save the home from being “discounted” because it is below neighborhood standards in that area?  Obviously if your windows are 80 years old and in poor condition, you will reap an above average return on window replacement.
Everyone has their own favorite color and many home buyers will repaint houses even if they were just painted.  However, if the paint is in poor repair you might consider painting. If you do repaint stick with neutrals colors or white because they don't date themselves.  Bright colors also make spaces look larger.  Look to a professional for the job.  Professional painters have tools that make the job go faster and provide a better end result.  If you consider the value of your time a pro might actually save you money.
Some simpler ideas for a fast sale and the best price are

  • Remove clutter – rent a storage unit for non-essential furniture and extra personal items.  This will make you house seem much larger and more inviting to buyers
  • Replace old accessories – Upgrade your bathroom towels and soap dishes to create a more elegant atmosphere.  Try this in other rooms.
  • Organize your closets and storage areas. – with the items you cannot put into storage, make sure they are meticulously organized.  Buyers love to snoop in closets and they are attracted the illusion of order.
These tricks for positioning your home are called staging.  Garth Schultheis and his team are experts in staging homes for fast sales and maximizing sales prices.  To start an evaluation of our experienced team visit our team introductions page.

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