One question that we Realtors get asked regularly by folks who are listing their homes for sale is what do-it-yourself home improvements would be most beneficial in selling their home.
HomeGain just released the results of their annual survey, Home Sale Maximizer. This survey covers the top do-it-yourself home improvements as recommended by Realtors, and the expected monetary return on investment. After reading the survey results I have to say that based on my personal experience I would have to agree.
According to the HomeGain survey, the top five home improvements that Realtors recommend to home sellers based on cost and return on investment (from highest to lowest ROI) are:
- Cleaning and de-cluttering ($200 cost / $1,700 price increase / 872% ROI)
2. Home staging ($300 cost / $1,780 price increase / 586% ROI)
3. Lightening and brightening ($230 cost / $1,300 price increase / 572% ROI)
4. Landscaping ($320 cost / $1,500 price increase / 473% ROI)
5. Repairing plumbing ($385 cost / $1,250 price increase / 327% ROI)
‘Many Realtors agree, especially in a buyer’s market, that sellers who make these recommended home improvements often get their homes sold faster and at higher prices,’ stated Louis Cammarosano, General Manager at HomeGain.
Rounding out the top 12, the list of low cost, do-it-yourself home improvements includes: updating electrical, replacing or shampooing carpets, painting interior walls, repairing damaged floors, updating kitchen, painting outside of home, and updating bathroom’s.
The home improvement projects with the highest price increases to a home’s resale value are updating the kitchen ($1,200 cost / $2,850 price increase), followed by painting the outside of the home ($900 cost / $1,815 price increase) and home staging ($300 cost / $1,780 price increase).
I offer all my clients a complimentary evaluation of their home and what things they can do to increase their odds of selling in the least amount of time and for the most money. I also can offer a list of good, professional stagers and home organizers. Some sellers are very receptive, and some are not.
Keep in mind that we Realtors are showing and touring hundreds, if not thousands, of homes each year. We understand the condition of your competition. We’ve seen firsthand the homes that have sold as well as the homes that are languishing on the market. Many times it is the simple things on the list above that make all the difference.
For more information about this or any other article please reach out to us at Blog@TierOneRE.com or call our office at 801-486-6200.