This is an extension on my previous post Getting the Best Return. I added all the rest of my content.
Preparing to sell your home or making simple upgrades to update your home are important investments. You want to spend your money on things that will pay off in the end. In this article you will find information about what rooms should be upgraded for maximum profit, inexpensive upgrade ideas, tools and accessories to make your transformation work and helpful videos to help you along the way.
Are you preparing to sell your home anytime soon? Even if you are not planning to move soon make sure you update your home for the best return on the money spent.
According to HGTV here are the average returns you can expect by doing these home updates:
- Minor bathroom remodel: 102%
- Landscaping: 100%
- Minor kitchen remodel: 98.5%
- Exterior of the home: 70%
- Updating the living room/family room: 83%
For more information on home repairs make sure you check out my article: Does Your Home Have Pizzazz
Minor Bathroom Remodel
"It costs about $10,500 to replace the tub, tile surrounding, floor, toilet, sink, vanity and fixtures," according to HGTV. "You'll get back an average of $10,700 at resale, a recoup rate of 102%." The bathroom and kitchen are the two most important rooms when selling a home. Prepare to spend a large majority of your upgrade budget on these rooms. $10,500 is quite a large budget. Here are some tips for a cheaper fix:
Traditionally speaking you should expect to spend approximately 5% to 15% of your homes value on landscaping. That equates to $12,500 to $37,500 if your home is valued around $250,000. This budget is generally outside the reach of many who are preparing to sell their homes. However, spending on landscaping is estimated to give a 100% return at resale.
Try landscaping on a budget:
Minor Kitchen Remodel
"A minor kitchen remodel averages $14,913 and brings in $14, 691 at resale, a recoup rate of 98.5%," according to HGTV. You are looking at approximately $15,000 to do a minor kitchen remodel as opposed to $43, 862 to do a complete kitchen remodel which only has a 91% recoup rate at re-sale. Stick to minor renovations, it is cheaper and brings in more for the money spent. Here are some quick and in-expensive tips:
"The average national cost to replace 1,250 square feet of vinyl siding is $7,239 with an average return of $6,914 with a recoup rate of 95.5%," according to HGTV. If your home simply just needs to be re-painted keep in mind that a gallon of paint covers approximately 400-450 square feet. Remember if your home is older to test the paint for lead before scrapping. Here are some easy and inexpensive upgrades for the exterior of your home:
Living Room/Family Room Update
Simply updating some of the existing things in your family room/living room and the rest of your home for that matter can give you an 83% return. According to HGTV, spending approximately $1,350 can get you: new light switches, outlet covers, floor registers, crown molding, chair rails, drapes, fresh flowers and accessories. Approximately $25 can get you neutral paint to paint a room. Painting your home gives you the best return, it is rather inexpensive and gives your home a fresh new look. Remember when preparing to sell your home to use more neutral colors. Many sellers think that all white walls and white trim appeals to buyers however off-white, beige and pale green are only among the potential options. As long as they are neutral colors you are in the clear! You should definitely consider spending $100-$150 on getting your carpet professionally cleaned. Replace carpet if it is torn, snagged, stained or smells bad (especially with pet and cigarette odors).
Other Important Ideas
Please see the actual article on my Squidoopage to see DIY videos as well as access more resources.
Contact Jason Tolley, Realtor, Backyard Realty Group LLC. Licensed Realtor in Georgia at 770-315-0789 to list your property for sale, to purchase a property or to manage your rental in Northwest Atlanta: Cobb, Cherokee, Paulding, Bartow, Fulton and Dekalb counties.
To view properties for sale visit Backyard Realty Homes for Sale. You can search for listings as well as view our listings. We know the Atlanta Area and will help you with your real estate needs.
Jason Tolley - Real Estate Agent, Property Manager, Community Manager
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