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Home Repairs with the Best Return on Investment

 

 

 

 

Neat, Clean and Tidy – The SIMPLE repairs that pay Back!

 

 

Why is it that some homes sell in days, even hours?

Many, times with MULTIPLE OFFERS and OVER LIST PRICE!!

…yet there are still hundreds of homes that NEVER SELL or if they do, it’s months later, at a fraction of their original price?

Today’s buyers have high expectations… They want trouble-free, easy living, nothing left to touch-up, finish, re-do…

So condition your home to sell with that in mind!

Many Home repairs done as pre-sale conditioning have much higher return than others…  

Best return on home investment home Repairs:

What’s interesting is that the home Repairs with the Best return on investment are also the least expensive home repairs.

Even though there is such a shortage of homes on the market and we are seeing historical appreciation in many price-ranges and areas, today’s buyers are more than just picky.  They know what they want and are willing to wait till they find it.  I’ve heard them called spoiled, or entitled, unrealistic, out of touch, head in the clouds…  and they might be all of those and more.

…or maybe they’re just busy. And patient.

Busy with long commutes to 2 jobs, busy with kids to school, kid’s sporting events, Church activities, friend’s and family obligations… and smart because, with the internet, they know about every other home that has sold in the neighborhood over the last 12-18 months. They have been watching your neighborhood real estate market for at least that long…  they know how many days each was on the market, what it sold for, what condition it was in, whether there was a price reduction etc….

They may even know about the one with the sun-room that wasn’t permitted and they remember that the sellers at the home with the leaky pool had to give a credit for the repairs to the buyer at closing…

Back to the High Buyer Expectations… it doesn’t really matter why, but everyone agrees that today’s average home buyer who is willing to pay top dollar, expects a home to be trouble-free, at least as touched up, spruced up and ready as a high end rental.  Everything taken care of, finished.

 

And even though there is such a lack of homes  for sale that are priced realistically and in this kind of shape, they are willing to just keep looking.  Even a price that represents a screaming deal won’t entice them to take on any projects.

With that in mind, we have put together some ideas to improve your homes condition without breaking the bank. Read on to find easy, quick projects that cost less than $300…. These stories are about real home sellers that found the Home Repairs with highest returns on investment-

You don’t have to spend thousands of dollars or weeks of toil and sweat to make a home repair worth your while. With staging—and the help of a high-octane real estate agent,  you can get top dollar for your home without a huge investment.

Does it work? According to the National Association of Realtors, most agents say buyers will pay 1–5% more for a home that’s been staged. That’s a potential $3,000–$15,000 added to the value of a $300,000 home! 

Want to make a few thousand bucks more on your home sale? Give the options in these REAL STORIES a whirl.

Option 1: Neutralize the Interior

Bob and Judy don’t have to worry about an outdated home. Judy’s a big HGTV fan and regularly works new design trends into her décor. But over the years, her decorating fervor has inspired a different paint color for every room, leaving their open floor plan feeling disjointed.

All they need is a fresh coat of neutral paint to make their home feel light and airy again. Bob and Judy don’t have a huge budget, so they decide to tackle the job themselves. They focus on the main living areas and find a bargain on paint and supplies at their local Habitat for Humanity ReStore.

Option 2: Reclaim Family Spaces

Jim and Karen have three kids under six and have gotten used to their home feeling like a war zone. Baby equipment has taken over their living area, and their dining room serves as extra toy storage. If they want to sell their home, they need to make some changes.

After clearing out the clutter, they cozy up the living room by focusing furniture around the fireplace instead of the TV. New lamps light up dark corners, while fresh flowers, new curtains and throw pillows add an extra punch of color.

Karen tops things off by breaking out her best dishes and linens and using them to dress up the dining table.

Option 3: Transform the Master Suite

Laurel is an empty nester who’s looking to downsize now that her kids are off to college. After years of juggling family and career, she realizes she never took time to create her own space to unwind at the end of the day. She gets to work transforming her master suite into a relaxing retreat.

Laurel’s first order of business is minimization. She organizes her linen closet and packs up off-season clothes and shoes. Her treadmill finds a temporary home in her sister’s basement.

Laurel scours local and online outlet stores for everything she needs. Fluffy white towels inspire a spa-like feel in the bathroom, and a crisp white comforter set creates a fresh focal point in the bedroom. She completes the look with decorative pillows and a set of matching lamps for her nightstands.

Option 4: Pump Up Curb Appeal

Rob is relocating to another state for his job. His real estate agent recommends dressing up the exterior of his ranch-style home.

Rob starts by washing off the layers of grime that have accumulated over the years. Then he paints his front door red and adds decorative house numbers to give his drab entryway a much-needed facelift. Instead of springing for brand-new porch light fixtures, he rejuvenates his existing ones with a specialty spray paint. A cheery welcome mat and brightly colored flowers might not be Rob’s style, but he knows buyers will love the inviting dose of color on his front porch.

Before the For Sale sign goes up, he mows the lawn, trims all the hedges, and tidies up flower beds with a fresh layer of mulch.

What’s Your Plan?

Of course, every home is different. We’ve made some assumptions in these examples. But hopefully you found some inspiration to get you started! You can mix and match ideas you see here or come up with a few of your own.

Give me a call or text me.  I know what home buyers in your area are looking for and can point you toward improvements that get the most bang for your hard-earned bucks. Need help finding a qualified agent in your area who can help you sell your home?

Source:  Dave Ramsey

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