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Best Home Improvements for Resale | 7 Home Improvements to INCREASE Property Value

Transcript

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What can you do to add the most value to your house and get the best return on your investment
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before you put it on the market to sell?
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How’s it going everyone my name is Matt Leighton and welcome back to another real
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estate video.
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In today’s video we’re looking at Seller ROI.
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We’re going to cover the top seven items that you can do to your property that will
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help to increase the value the most before you put it on the market.
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Now this isn’t going to be like HGTV where you have a $50,000 budget and you’re going
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to completely re-do your house and gut your kitchen and bathrooms.
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That’s not realistic.
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HGTV is not real life.
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These tips are going to be for real people who may only have a few hundred bucks or a
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thousand dollars to spruce up the house.
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And if you only had a small amount of money, wouldn’t you want to spend it on those items
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that will bring you the highest return?
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Of course.
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So with that being said, let’s take a look at the top seven things you can do to get
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the best return on investment:
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Number one is paint.
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By far the best thing you can do to prepare your home to sell on a limited budget is to
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paint.
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You’re going to want to freshen up living rooms, dining rooms, bedrooms, really whatever
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needs it, with a fresh coat of paint in a light, neutral color.
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If you already have a light-colored paint job in your house, then maybe you can get
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by with just doing touch-ups.
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But if you have bold colors like red, yellow, green, purple, and basically anything that
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would catch someone’s attention, you’re best bet is to get a fresh coat of neutral
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paint.
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You don’t want people to remember the color of paint in your house.
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You almost want the paint to be an afterthought as it’s purpose is to open up the space,
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make the room look larger, and to compliment any furniture in your house.
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Number two is to improve lighting where possible.
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Notice I said where possible.
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Don’t go out and buy a lavish chandelier.
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Don’t spend money on a fixture that clearly doesn’t fit the space due to style or size.
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Whereas the goal of the paint was to almost avoid attention, when it comes to light fixtures,
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you want people to notice how nice the fixture is and how bright the rooms are.
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And the best part about it is you can go to Home Depot and get really nice looking track
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lighting and other lighting fixtures for only a hundred bucks or even cheaper.
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Old out-dated light fixtures detract from the real value of the house.
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New lighting fixtures brighten up your house, they make your home look bigger, and it’s
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one of the best investments you can make before your sell your home.
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Number three is to replace wall switches, faucets, knobs, and door handles.
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The small things make a difference.
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These are fixes and upgrades that cost a very little monetary amount and end up making a
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huge difference.
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Now you may be thinking, what am I going to spend $50 replacing wall switches and redeem
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$100 in value?
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It’s not worth it.
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Think in terms of time on the market.
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Your home may not sell for more directly because you take out your door knobs from the 1940’s
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and replace them with ones from this century, but your home will sell faster.
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And time is money.
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So if you have old outlets, strange fixtures, and dirty or yellow wall light switches, change
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those out.
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The new ones will pair well with your fresh coat of paint.
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Number four is to do minor kitchen upgrades.
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Now I say this one with a little bit of hesitation, because sometimes we can get carried away
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in the kitchen.
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We’re not talking about a gut job or opening up walls or anything like that.
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Things to consider on a tight budget would be to install granite countertops, custom
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backsplash, or re-face the cabinets.
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Notice I said OR because these are expensive.
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But if your kitchen is outdated or a little behind-the-times, doing one of these things
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can help significantly.
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If you can only do one of the three, consider doing the countertops first.
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If you already have nice countertops, go for cabinet refacing.
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If you have both of those, put in a cool backsplash.
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That’s what buyers are looking for these days.
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Be sure to pick a design that won’t turn off buyers.
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But sexy kitchens sell properties.
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If it’s in your budget consider doing minor upgrades to the kitchen
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Number five is to install hardwood floors instead of carpet.
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Imagine if your living room, dining room, rec room, or even bedroom has carpet that
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needs to be replaced.
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Well instead of replacing it with carpet, consider replacing the carpet with a laminate
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hardwood floors.
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Hardwood floors make homes feel bigger and its what buyers want.
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Nobody wants carpet anymore.
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Again, this one might be something where the budget is an issue, so if it is, maybe only
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install hardwoods in the living space.
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The first impression is everything with buyers and new hardwood floors instead of carpet
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is a great way to impress buyers and to make your space seem much larger.
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Number six is staging.
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Staging your property to sell is one of the best things you can do to sell your home quickly
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and for the most amount of money.
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Here’s the deal, no matter what anyone tells you, most buyers cannot imagine how furniture
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will fit in a room unless they see it in-person.
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And not only that, staged homes will have a warm, homey feeling as compared to vacant
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homes that can give off cold, unfriendly vibes.
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The pictures online will also look better, rooms will look bigger, awkward spaces can
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be taken care of, and above all staging helps place the attention on the benefits of the
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homes and helps to hide any flaws.
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Staging costs about $1,000 – $2,000 for condos and $2,500 – $4,000 for houses.
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Now that’s a lot of money.
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But if you are selling your house 30 days faster than you would have originally and
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for more than you would have if the home was empty, then you are making back that money
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and more when you stage your home before you put it on the market.
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Finally number seven is landscaping.
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The great part about this one is that you can do it yourself and not spend any money!
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Or spend very little on plants and mulch.
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Do the bare minimum and then go from there.
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First things first, you have to have the grass nicely trimmed at all times.
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We had a home listed for sale over the summer and I went to do the open house about 2 weeks
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after we listed the home and the entire front yard was overgrown.
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I’m thinking, what are we doing?
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An unkept yard and poor curb appeal could already seal the fate of the home even before
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the buyer walks through the front door.
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Landscaping can be very expensive.
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What you want to do is to get your yard looking nice, get rid of weeds, mulch where necessary,
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and add in some flowers depending on the time of year.
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Guys curb appeal is a big deal.
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Make sure the home looks as good on the outside as it does on the inside.
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There you have it, the top seven things you can do to on a budget to get the best return
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on your investment when you look to sell your house.
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What are your thoughts?
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Does my list match your list?
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Let me know in the comment section below if you have any other items you would add to
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this list for the best ROI.
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Thanks for watching.
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Until next time, create a productive day.
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Take care.

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