Home Upgrades that Pay Off.

When selling your home, sometimes it is necessary to do a couple of upgrades in order to  keep your home current.  Here is a list of upgrades you can do to add value to your home as well.

1.  Painting: Why it pays off:  Paint provides dramatic results with little investment.  Can’t decide on what color to use?  Geri Willis, the anchor of Open House on CNN, says that pale yellow homes tend to sell faster and for more money.    Yellow is considered and optimistic and inspirational color.  It gives people joy and the the sense of brighter things ahead.

2.  Siding: Why it pays off:  According to a 2007 Cost vs. Value report, fiber-cement siding is estimaded to recoup about 88 percent of a home owner’s initial investment.  While vinyl can crack, split, and warp and aluminum tends to dent and fade, easy care fiber cement holds up well against the elements and is resistant to fire, rotting and termites.

3.  Building a deck: Why it pays off:  A deck will provide you with more than a place to fip burgers and soak up the sun.  Buyers can see decks as a great transition from inside to outside.  It is also an outdoor living space.  Decks have an impressive return on investment.  In 2007, sellers recouped about 85% of their costs.

4.  Updating the Kitchen: Why it pays off:  You really can’t go wrong with remodeling or updating the kitchen, which can net up to 83% of the costs.  But, if you have a smaller home, keep your investments modest or you won’t recoup your costs.

5.  Replace Windows: Why it pays off:  If you experience coll and blustery weather.. in your living room, it is probably time to buy new panes.  Not only will it eliminate drafts, but it will save you a bundle on your utility bills.  in 07, people who installed  energy efficient window saw a 81% return on their costs.

6.  Modifying a Bathroom: Why if pays off:  Bathroom upgrades provide a solid return on investment- anywhere from 68% to 78%.  But make sure you avoid anything too trendy, try to use classic features.  Also consider resurfacing exsisting tubs, tile, and sinks.

7.  Landscaping: Why it pays off:  The front of your house is the first thing people see, so it makes sense that any improvements will be worth your while.  Plant flowers that come back seasonally.  Plant trees, they aren’t just nice to look at, they also stave off erosion, block storm-water runoff, reduce carbon dioxide emissions, and filter groundwater pollutants.  They could even help your home sell for more.  Houses with established landscaping are more attractive to buyers.

8.  Fixing up the Basement: Why it pays off:  If your basement is prone to flooding, leaks of excess moisture, call in a pro.  There is nothing worse than a damp smelling basement.  You may also decide to finish some areas in your basement.  Basement remodels can gain back anywhere from 50% to 100% depending on materials and quality.  But be sure it is proportional in quality to other areas of your home.

So if you are waiting to list your home until the market recovers a bit, you may consider doing some of the above projects while you wait.  It just might be the thing to help your home sell faster and for more money.

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~ by infoonhome on February 13, 2009.