If you are considering the sale of your home now or in the future, I would be delighted to share my knowledge and expertise with you. Just like a polished apple attracts more hungry snackers, a home that has been spiffed up a bit attracts far more buyers -- or is attractive enough to push someone over the edge from "I like it" to "I love it."
Here are a handful of improvements that generate more buyer interest, along with average return rates for each project according to HGTV.com.
1) Bonus Room Updates -- Average return at resale: 72.8 percent
Do you have an empty bonus room? Turn it into something practical. Keep in mind the needs of your target market and remember that families utilize these spaces differently than empty nesters. Bookshelves and cabinet additions can make for appealing storage spaces. Adding french doors helps potential buyers envision a play room or a home office.
2) Replacement Windows -- Average return at resale: 86.9 percent
Replacing windows can be a costly project. But DO NOT underestimate the return it brings. Energy conservation is big for buyers, and new technology equals big returns on investment. For hot climates like our Southwest Florida area, there is Low-E glass, which reflects heat by blocking infrared energy. Argon gas can be placed between window panes to prevent heat transference through the window. A lot of folks will replace traditional windows with impact glass for lower insurance bills, and to eliminate the need for hurricane chutters. When you do this, be sure to go with Low-E. Even replacing your pool cage sliders with Low-E can make a significant difference in your energy bill!
3) Kitchen Remodel -- Average return at resale: 91 percent
A complete kitchen remodel will be expensive, but its an investment that often pays off. Everyone tends to congregate in the kitchen, and a full package can be the factor that puts you above the competition. If the values of homes in your community have increased, and your kitchen isn't up to par, consider a major remodel rather than small fix ups. Eat-in kitchens are high on the list of buyer desirables.
4) Bathroom Remodel -- Average return at resale: 93.2 percent
Whether you go small or big on bathroom updates, there's a consistent return on investment. Sometimes relocation of the major pieces can give the illusion that there's more space. New lighting, a linen closet, and fresh tile can equal a big payoff that buyers will love.
5) Exterior Improvements -- Average return at resale: 95.5 percent
An updated front entryway and some fresh paint turns MANY buyers' heads! One gallon of paint covers roughly 400 square feet, and is one of the most cost effective upgrades to increase your home's curb appeal. Accent lighting can draw more attention to your home's best exterior features and provides a sense of security.
6) Landscaping -- Average return at resale: 100 percent
This is a no-brainer investment to bring more interested buyers to your doorstep. If you're stuck for ideas, most garden centers offer free consultations. Find a color scheme with your landscaping that accents your home's color palette. A custom walkway and fountain adds considerable appeal. When we purchased our home in North Naples, it was like a jungle. For one thing, it was surrounded by far too many very high privacy hedges. We spent many weeks cleaning it up and replanting. We constantly receive compliments from our neighbors about our beautiful house, that they only recently have been able to see. It was hidden by too much greenery.
If you'd like to know more about how to increase your home's marketability compared with other homes for sale in your community, or anything else regarding the sale of your home, please feel free to contact me. I would be happy to discuss it with you. Further, if you or someone you know requires the services of a real estate professional in the future, please allow me to outline how I can not only meet your needs, but exceed your expectations.
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