Get the Biggest Bang for your Buck when Selling your Home

Get the Biggest Bang for your Buck when Selling your Home

Selecting Home Improvements that Pay the Biggest Return on your Investment can be tricky. And every situation is different, depending on the condition of the items involved. It's also important to differentiate between repairs made just to put your home on market, and investments made in your home to increase its value for a sale at some future date.

The elements that motivate a fast home sale in San Francisco are the same elements that sell homes for top dollar. Many homeowners never discover that certain small, even inexpensive repairs to their existing home could generate many times their cost in additional home value. But on the other hand, other repairs and improvements can cost you dearly. It's critical to know what repairs and improvements to spend money on, and which ones to leave alone.

According to the National Association of REALTORS, professionally painting the exterior of a home recoups nearly 100% of its cost. But that's not the only advantage. Studies show that painting the exterior has a meaningful effect on reducing the time to sell. And reducing time to sell means you're saving potentially thousands in interest, taxes, and other overhead costs required to maintain your home and mortgage during the "for sale" period.

According to the Remodeling 2011-12 Cost vs. Value Report (www.costvsvalue.com), which can be customized for your own area, the following four projects will provide the best return for your dollar in the San Francisco market: Entry Door Replacement (Steel) 105.7%, Garage Door Replacement 100.7%, Minor Kitchen Remodel 115.5%, and Window Replacement (Wood) 101.5%. © 2011 Hanley Wood, LLC. Complete data from the Remodeling 2011-12 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.