One of the questions homeowners ask, especially if they are preparing to sell, is how a home improvement will impact their final sale price. It's foolish to "over-improve," but just as foolish to do nothing at all. So how do you determine what is valuable and what is fluff?
A good way to start thinking about this is to divide your plans into four categories: necessary home maintenance, curb appeal jobs, "neighborhood norm" projects, and finally, the "appraisal booster" projects.
Home maintenance jobs aren't very sexy, but they are essential to keep up the value of your home. Replacing the roof, redoing cracked driveways and paths, sealing and caulking around windows and doors, etc., will earn few or no extra dollars when you go to sell, but are part of the overall appeal of your home that will make it easier to sell.
Curb appeal projects are frequently the cheapest, and they also have some of the greatest paybacks. Things you can do for under $100 that have a fabulous effect:
- Paint the front door and exterior trim on the front of the home.
- Plant shrubs and annual flowers at or near the entry; add a few decorative pots with specimen plants.
- Wash all the windows, inside and out.
- Power-wash the house, if you can't afford to paint the entire exterior
- Re-sod a dead or overly weedy lawn.
- Repaint or replace your old mailbox and be sure your address is clearly visible on it.
- Add new, clearly-visible address numbers to the front of your home.
- Remove eccentric lawn decor, children's toys and bikes, etc.
"Inside curb appeal" items generally cost you nothing and can make all the difference in getting a good price and a quick sale. If you do nothing else, DECLUTTER! This is cost-free and the single biggest difference you can make in your home. If you can't bear to part with it, store if off the property, but aim to reduce the amount of "stuff" (and furniture) in each room by 1/3.
After decluttering CLEANING makes the biggest difference. Every room, but particularly the bathrooms and kitchens, should sparkle. Mostly this involves the application of elbow grease (yours or a hired hand's), but fresh paint can really help.
ODOR REMOVAL is part of cleaning! You want a neutral smell, not cloyingly sweet or obviously covering up some other, icky, smell. Deep-clean upholstered furniture and carpets, particularly if you have pets or small children. Upholstery and carpets carry odors for years! Dry-clean drapes, wash curtains if they'll go in the machine, and have miniblinds professionally cleaned. Open windows and air out the place, if the weather is reasonably good. Change the heater or a/c filter, as it also traps odors. Finally, add a hint of a pleasant smell such as vanilla, cookies baking, light floral scents (real flowers...what a thought!).
Most of these projects are free, and few will cost you more than $100-$200. If you can earn an additional $10,000 at closing, why not make that investment?
I'll be back with more information on neighborhood norms and appraisal-improving ideas.
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