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If you're considering putting your house
on the market, make sure you know how to get the most bang for your
home-improvement buck. A $1,000 investment in upgrades and a few days of
work over a weekend could be the difference between a lowball offer and
getting your asking price. On a $100,000 to $200,000 home, it could put an
extra $5,000 to $10,000 in your pocket. .
But to get the best return on
your investment, you need to make the right type of upgrades.
In a Bankrate.com article this
month, Jay MacDonald advised homeowners to keep resale in mind when making
improvements. His tips:
1. Select neutral colors to
create a "blank canvas" for potential buyers.
2. Upgrade the kitchen first.
3. Paint everything in sight.
It's the quickest and most inexpensive makeover technique.
4. Focus on the floors. Whether
wood, tile, laminate, or vinyl, make sure they're inviting, and not
cracked or discolored.
This is sound advice. But there
are a few key points that MacDonald doesn't mention.
To make a good first impression
and lure drive-by shoppers to stop and investigate your property . . .
* Landscaping is critical. A
small investment in sod, shrubs, and flowers can add a great deal of curb
appeal and make a house seem like a home. The labor is cheap if you look
in the right places -- or, better yet, do it all yourself. Get ideas by
driving around the neighborhood and snapping some photos of the area's
nicest homes. If you're lucky, a friend or relative who's a gardening buff
may even volunteer to design the whole project just for the fun of it.
* Make sure the front door is
sanded and freshly painted, and that outside lights near the door are in
working order. If the mailbox is on its last legs, replace it.
* A simple picket fence along
the front property line can also make the house look more inviting. These
used to be expensive but now you can get cheap, easy-to-assemble, and
durable fence sections -- in wood or vinyl-- at the big home-supply
stores.
To make a good impression
inside your home, focus your improvements in these areas . . .
* If the bathrooms are in
decent shape, you don't have to do expensive remodeling to make them
shine. Scrape and re-grout areas where the grout is dirty. Pop a new lid
on the bowl if necessary. A new medicine cabinet may cost $20 to $30 but
can make a big difference. Make sure all the minor amenities are there and
in good shape. Have a clean soap dish or soap dispenser on the sink and
drape nice towels over the towel rack.
* It costs very little to
replace electrical-outlet covers and switchplates, yet they give the
impression that the house has been well-maintained.
* Make sure all windows are
clean, and open the drapes or blinds to let light into all areas of the
house. Well-lit areas appear larger and reinforce the idea that you're not
hiding anything.
* If you have a stereo or radio
in the house, put on some classical music at a moderate volume. And put a
few plants or vases of flowers around. The more pleasant an experience
people have walking through your property, the more likely they are to
think "I could enjoy living here."
* And, of course, make sure the
home is spotless. Retail buyers are your primary customers. Many of them
can't see beyond the dirt.
By spending a few
days and a minimal amount of money on some minor improvements, you can
expect to get offers of 5% more than if your property looks unkempt. And
that can make a difference of thousands of dollars in your
pocket.
