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9 Get Smart Projects for 2009's Down Market

By
Real Estate Agent with Coldwell Banker United, REALTORS

What projects make sense to do during a down market?  What will make your house easier to live in now and sell later?  Take a look at these 9 projects that will be your best bet.

1. Siding and Window Replacement:  According to Remodeling magazine, these are the two projects that you will see your costs recouped the most.  These projects may cost you from $10,000-$20,000 but they add so much to your curb appeal, increase energy efficiency, and minimize maintenance issues.

2. Turning Your Home Green:  Anything "green" will help sell your home in the future while helping your energy costs in the meantime.  This includes: reinsulating, caulking, new windows and doors, more energy efficient sky-lights, low-flow faucets and hot water heaters, and new energy efficient appliances.

3. Deck Addition:  If you are the only house in the neighborhood without one, go ahead and build it.  It will help with resale, especially with buyers desiring outdoor space.

4. Cosmetics:  Some things could be as simple as painting, replacing carpet, switching to hardwoods, or updating tile.

5. Stand Out:  Add features such as crown molding or faux painting to make future buyers go "wow!"

6. Kitchen Remodeling: Kitchens and bathrooms are always important in a home as thats generally what sells the house.  Don't go crazy, but keep your budget in the $5,000-$20,000 range to replace countertops, add new appliances, resurface good cabinets, or add new hardware. 

7. Bathroom Remodel:  Skip the giant tub, get a smaller soaking tub, and go for a great body spray shower with mosaics or stone tilework.

8.  Reinvent Your Space:  Home additions are out for now, so take a clustered room and reinvent it.  Turn your mud room into an efficient storage area or turn that underused dining room into a study or in-law area.

9.  Electric Radiant Heat:  Costing around $8-$15 per square foot, adding radiant heating to a room that you're already replacing the floor in is a good idea.  This requires little space between tiles or flooring and runs on its own thermostat.

Comments (6)

Lisa Magee
Keller Williams Realty - Boiling Springs, SC

Troy, thanks for your informative post.  Hadn't thought about the radiant heat, in the Upstate here, but not a bad idea.  I appreciate your post!

Feb 04, 2009 10:36 AM
Cindy Hartpence
Edisto Real Estate Company - Edisto Beach, SC

Troy! Thanks for the thoughts. Lke the Radiant heat as well. Its been pretty darn cold here this week! Ha

Cindy

Feb 04, 2009 01:43 PM
Tanya Venable
Orlando, FL
SEO, Mobile SEO, and Internet Marketing Consultant

Troy, great ideas.  All them can get you a great return on the investment.

Feb 06, 2009 12:25 AM
Ron Bridges
ERA Wilder Realty, Inc. - Sumter, SC

Great ideas.  I just emailed this list to some new home owners.  They will only be in their home for about 3 years or so and I know they want to do some things to the home.  This will give them some direction.

Feb 15, 2009 12:58 PM
K.T. Ruthven
McKinney Realty of Aiken - Savannah River Plant, SC
ePro

Great ideas Troy.  In this slow market buyers expect extras and want more for less.  It's our job as Realtors to make our sellers aware.   Alittle work can go a long way.

Feb 15, 2009 11:26 PM
Bruce & Mary Smith
Savannah Lakes Homes - McCormick, SC
REALTORS, Savannah Lakes Village McCormick SC

Troy - Those are good ideas and some of them are on our list.  But we're busy with buyers and sellers lately so those projects will just have to wait.  Isn't that wonderful?

Feb 26, 2009 11:06 PM