Helping Potential Buyers Love Your Home Main Photo

Helping Potential Buyers Love Your Home

Projects to tackle to get the best ROI
Posted: February 14, 2019 by Rachel Ennis

**This week's blog feature is written by Mary Beth Downing, Realtor**

The spring season is almost upon us. This is the time of the year when many choose to list their homes for sale. Spring is often the best time to list your property due to increased levels of buyer interest. While you love your home, it is important that you help others to do the same as part of your effort to sell it. One of the best ways to make others fall in love with your residence is by making improvements before you list it for sale. The trick, however, is to do so in a way that makes economic and financial sense. I will list some common home improvements which provide a good return on your investment (in terms of the value which they add to your house). Second, I will discuss how making some improvements can help you sell your home sooner, rather than later.

Home sellers should consider the return on investment (ROI) which improvements will provide

There are a number of improvements which people can make to their homes. When it comes to resale value, however, it is important to consider the return you will receive on your investment (the “ROI”). Put simply, ROI is measured by the amount which the resale value of your home increases, in comparison to the amount of money spent on the improvements. According to US News, the following are items which can actually increase the value of your home by an amount greater than their cost:

?     New insulation - According to US News, new insulation can offer a return of up to 108 percent. In other words, spending $1,000 on this upgrade can potentially increase the sale price of your residence by up to $1,080.

?     Improved landscaping - The aforementioned report states that an “overall landscape upgrade” can give a return on investment of up to 105 percent.

?     An improved front door - This upgrade is reported as providing an ROI of up to ninety-one percent. Meaning that every $100 spent will increase the value of the home by up to $91 (more below on why you may wish to make such an upgrade before listing your property for sale).

Other potential upgrades can include a new garage door, the remodeling of your kitchen, improvements to your bathroom, and more. If you are not sure whether it is worth it to complete such upgrades, then it is best to discuss your situation with a realtor.

Improvements can increase your home’s “appeal” which, in turn, can help it to sell faster

It is, again, important to make others fall in love with your home when you are attempting to sell it. While you see your home every day, it is important to remember that prospective buyers have never been there before. You need the first impression, which your house provides, to be stellar so that buyers will also fall in love with it. This means that when choosing whether to go forward with an improvement, there are two things to consider. The first is whether the improvement will return more money to you than it costs. The second is whether the improvement will help you to sell the home. The reason for going forward with the first type of improvement is obvious. The latter, may not seem so obvious. If, however, an improvement helps your home to sell sooner (and in some instances helps to ensure that your home actually does sell) then it may well be worth the cost. An experienced realtor can help you decide whether improvements, which may return less money than what they cost, are worth it in order to assist with actually selling your home.

As a Dayton area real estate agent I assist people with selling a residence. If you are in need of assistance then it is suggested that you contact a professional.

Learn more about Mary Beth Downing, Realtor here.

Loading Comments
Real Estate Links Our Domains