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Best tips for home renovations to maximize your Return on Investment!

By
Real Estate Agent with ONE SOTHEBY'S INTERNATIONAL REALTY 3055685

As an active agent in the Miami market and also from my own personal real estate purchases I have some suggestions in order to maximize your return on your investment when you are ready to sell.  

1. Paint - fresh paint inside and outside!  No brainer!?

2. Roof - everyone always asks about the roof's age; if older than 15 years any inspector will make note of that to any buyer as reaching its so called "life expectancy"  this then puts a new roof $$ amount of at least $20,000 in the buyers mind.  So with that said if you bought the house with an older roof and are fixing leaks from time to time; it may be worth replacing it !

3. Clean AC, have new vent covers so no mold or dust and make sure they have been maintained including annual acid washes.  In hot climates the AC runs daily!

4. Kitchen - focal point of most homes so make sure this is updated.  You don't have to spend a lot of money to make it look attractive and functional. 

5.  No old gross wall to wall carpets!!!

6.  Landscaping -invest, hello curb appeal!!

7.  Pool - construction is not as expensive as you think and most buyers in hot climates like Miami demand a pool

8.  Furniture -the way it is staged helps a buyer envision themselves living in your home and identify with the property and really want it 

9.  Invest in floors -not pergo!  Every buyer asks if real wood or not and will you will get more bang for your buck with the good stuff!

10.  Bathrooms -dated bathrooms are always going to stick mentally with a buyer.  You can redo an old ugly bathroom for around $5000 and your ROI is worth the cost! 

 

For more information on Miami Real Estate contact the Grove experts at JillPenman.com or call 305-807-9199. - See more at: http://activerain.com/blogs/jpenman#sthash.pmNZJtT1.dpuf

John Pusa
Glendale, CA

Jill - Thank you for sharing an excellent blog about best tips for home renovations to maximize return on investment.

Sep 21, 2013 07:12 AM
Jill Penman
ONE SOTHEBY'S INTERNATIONAL REALTY - Coconut Grove, FL
Coconut Grove & Coral Gables Lifestyle Expert!

You are welcome John!  I appreciate your comment! 

Sep 22, 2013 08:22 AM
Jim Patton
Aspire Home Real Estate 209-404-0816 - Modesto, CA
Realtor - Stanislaus ,Merced, San Joaquin Counties

Good points Jill and some of them are easily done and won't break the bank.

Sep 23, 2013 02:49 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Living in Miami I would guess that having a pool is essential, so it probably should be on the top 10 list. Nicely Done!

Sep 24, 2013 07:56 PM
Jill Penman
ONE SOTHEBY'S INTERNATIONAL REALTY - Coconut Grove, FL
Coconut Grove & Coral Gables Lifestyle Expert!

Thanks all Miami is a different animal when it comes to real estate!

 

Sep 24, 2013 11:35 PM