It does not have to cost a fortune to improve a home and
make it more sell able, according to Home Gain’s 2012 National Home Improvement
Survey.
Home Gain surveyed nearly 500 real estate professionals
nationwide to determine the top do-it-yourself home improvement projects that
offers some of the biggest bang for your buck when selling a home.
“In a buyer’s market, sellers need to dress their homes for
success before putting them on the market,” says Louis Cammarosano, Home Gain’s
general manager. The survey shows “that do-it-yourself home improvements like
cleaning and de-cluttering and lightening and brightening your home are
cost-effective ways of increasing your chances of selling faster and closing
closer to the asking price than homes rushed to the market with no
improvements.”
Here are the top five projects that real estate professional
recommend to their clients–projects that have the potential to offer some of
the highest returns on investment at resale, according to the 2012 Home Gain
survey:
1. Clean and de clutter
What to do: “Removing personal items; wash and clean all
areas of inside and outside of house; freshen air; remove clutter from
furniture, counters, and all areas of the home; organize closets; polish
woodwork and mirrors.”
Estimated cost: $402
Potential ROI: 403% or $2,024 to the home’s sale price
2. Lighten and brighten
What to do: “Open windows; clean windows and skylights
inside and outside; replace old curtains or removing curtains; remove other
obstacles from windows blocking light; repair lighting fixtures; make sure
window open easily.”
Estimated cost: $424
Potential ROI: 299% or $1,690
3. Repair electrical and plumbing
What to do: “Update leaky or old faucet spouts and handles;
repair leaks under bathroom or kitchen sinks; laundry room pipes; toilets
should be in good working condition; remove mildew stains.
“Update electrical with new wiring for modern appliances
and/or Internet and other audio/visual equipment requested in homes today; door
bell should work; service sprinkler systems; fix lights and outlets that do not
turn on; replace old plug points with new safety fixtures.”
Estimated cost: $808
Potential ROI: 293% or $3,175
4. Landscaping
What to do: “Front and back yards; add bark mulch; rake and
remove leaves, branches and debris; plant bushes and flowers; add planters and
hanging plants; mow grass; water lawn and plants; remove weeds and dead plants;
manicure existing plants; any yard work that improves the curb appeal of a
home.”
Estimated cost: $564
ROI: 215% or $1,777
5. Staging
What to do: “Add fresh flowers; removing personal items;
reduce clutter; rearrange furniture; add new props or furniture to enhance
room/s; play soft music; hang artwork in walls.”
Estimated cost: $724
ROI: 196% or $2,145
However, the survey finds that the home improvement projects
that offer the highest potential price increase to a home’s resale value
continues to be updating the kitchen and bathroom. Home sellers could
potentially see a $3,255 price increase to their home at resale by tackling
kitchen and bathroom projects, according to the Home Gain survey. But those
projects are not usually cheap to do. Check out our post earlier this year
about the 2011-2012 Cost vs. Value report to see what home remodeling projects offer
the biggest potential returns at resale.
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