Top Home Improvement Projects Based on Cost and ROI

Reblogger Bonnie Vaughan
Real Estate Agent

 

Original content by Barry Wolfert

In today’s competitive home seller’s market, it is critical to make sure your home is in top showing condition.  Sometimes small things add up to make a huge impact.  HomeGain.com announced that it has released the results of its nationwide home improvement and home staging survey.

HomeGain’s recent survey shows the top do-it-yourself home improvements that Realtors recommend to home sellers. HomeGain received responses from nearly 1,000 Realtors nationwide and configured a list of the top 12 do-it-yourself (DIY) home improvements that cost under $5,000 and benefit sellers most when they sell their homes.

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:

1. 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)

Cleaning and de-cluttering continues to rank as the top suggested home improvement (since the survey was originally conducted in 2000), recommended by 98% of Realtors, costing less than $200 and returning a value of nearly $1,700 to the home’s sale price, or an 872% return on investment.

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 bathrooms.

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 am not sure how HomeGain calculated the cost of these projects but I agree that these projects are some of the simpler ones that can generate a high ROI (return on investment).  Every home needs to be evaluated individually to see what improvements are needed to be competitive in  its local market.

Contact me to schedule a free home evaluation so you can determine what needs to be done to your home to make it stand out in this competitive market.  I can also provide you with a price valuation as well.

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Topic:
Home Selling
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Pennsylvania Lackawanna County Clarks Summit
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Rainer
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Geoff ONeill
John L. Scott Medford - Medford, OR

Great Post.  With your permission I'd like to get this to a seller of mine.

Feb 20, 2010 05:58 AM #1
Rainmaker
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Bonnie Vaughan
Scranton, PA
CNE SFR - Buyers/Sellers - Lackawanna & Surroundin

By all means Geoff.  thanks for commenting.

Feb 20, 2010 06:11 AM #2
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Rainmaker
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Bonnie Vaughan

CNE SFR - Buyers/Sellers - Lackawanna & Surroundin
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