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Improving Your Key West Home

By
Real Estate Agent with Island Group Realty

homeWith so many homes on the market, how can a seller stand above the crowd? Pricing competitively is key, but making a few improvements can make a big difference in how much a home sells for and how fast. The big question has always been; which improvements should you make and how much should you spend. A recent survey by HomeGain.com may answer part of the question.

HomeGain's recent survey asked what top do-it-yourself projects Realtors® would recommend to home sellers. All of the projects came in under $5,000, but it also showed that for under $500 you can make some improvements that not only help you sell your home, but also give you a good return on your investment.

The top improvement on every Realtor's seller to do list is clean and de-clutter. This one came in highest on the list, 98% of those surveyed recommended this step! This step can cost you nothing if you do it yourself, but for an average cost of $200, you can hire an organizer to come in to give you some help. You could also rent a storage unit for your extra stuff for $150-$200. What is the return on this $200 investment? Up to $1700 in potential price of your home! That is over 800% return on investment! There is a reason Realtors tell clients that this is the most important step in preparing your home for sale!

Another trick of the trade that is gaining in popularity is home staging. The main goal of home staging is to make your home look brighter, bigger, and more inviting. Again this is a project you can do yourself. Purchase a few items to add light and texture to your home, play around with the way furniture is arranged. Remember the purpose of home staging is not about function, it is about form. You can spend around $300 staging your home; the increase you will see can be upwards of $1,780! Browse stylish home magazines to get a few ideas!   You can even get ideas of how to arrange your furniture and plan ahead for your next home at websites for companies such as Royal Furniture or Ashley Furniture

Other items that topped the list are tried and true must do's for selling your home. Clean your carpets, freshen your paint; inside and out, and repair any visible damage to walls and floors. If you want to take on one of the bigger projects, you will normally see big returns on updating kitchens and bathrooms. Your return on investment may be up to double what you spend, if you spend $1200 updating your kitchen you will usually see approximately $ 2850 price increase.

These amounts, of course, are just averages. In some places, you will see more or a little less return on your investment. This is where working with a local real estate agent is crucial. They can help you know what is important in your specific situation. If you want to do $7,000 in home improvements but your area could not carry the price increase, you may spend more than you could make on return. Your local real estate expert can help you avoid that pitfall! If you have questions about selling your Key West home call Margarita Villoch, she is your Key West real estate expert! Margarita offers Free Home Evaluation; Current Market Analysis.

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Comments (2)

peter gyoerkoes
Exit Realty NFI - Pensacola Beach, FL

Home staging is a hot trend today.

Dec 16, 2009 12:28 PM
Margarita Villoch
Island Group Realty - Key West, FL

Yes it is, Pete. It can really make the difference when people are trying to sell their homes - especially if they want to sell more

Jan 26, 2010 01:46 AM