Preparing To Sell Your Home? – Choose The Right Improvements!
Which Upgrade Will Make You The Most Money When You Sell?
A major question we encounter with homeowners thinking to sell their homes lately revolve around which projects they should undertake prior to putting their home on the market for sale.
There is almost always some level of consternation regarding how much time, money and effort will be required and to what extent the projects should be completed.
There’s always the obvious punch list to take care of the areas where the home shows wear and tear. The questions arise when discussing the more ambitious projects.
Fresh paint and steam cleaned carpets only begin to scratch the surface on the “can do” projects to prepare a home for sale.
Unfortunately it’s the gray areas that present the largest challenge. The costly improvements that may or may not result in a quicker sale, an offer for more money – or both. I call the areas gray because even the best real estate schools don’t train us to use a crystal ball, so we cannot see into the future and advise with that ever so helpful hindsight. So there will be no guaranteed rate of return on investment.
A simple Google search for “home repair cost-recoup” will reap some invaluable data. While perusing the data keep in mind these are national averages, unless you can find local information. Don’t dismiss these numbers all together though, they at least give some level of indication on each named project and they certainly can assist in your decision making process. Below is a chart of repairs and what they return on average borrowed from the National Association of Realtors® from mid-range homes.
When deciding which repairs will make the most sense the first thing to do is decide on a budget. If you don’t have $62,000 available, you likely won’t be doing a major kitchen remodel—even if your kitchen looks like a scene directly out of “The Brady Bunch”.
Before making a decision on repairs or upgrades before you sell contact us at Miranda Executive Realty. We can walk you through the best repairs to make within your budget to ensure you get the highest return on investment. As you can see from the chart above, not all repairs are created equal, and it doesn’t always make sense to do some repairs. While others make total sense. Let us be your Sherpa guide when navigating through the mountains of data for your repairs. We’re ready to make you as much money as possible, and spending as little money possible. You’re success is our goal.
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