Home Renovations: Think Smart
The thought of renovating your home to improve the price it will bring on the real estate market is an appealing one. The question any home owners should be asking themselves is "what does my home NEED in order to obtain a higher selling price?" Many home owners overlook obvious things their home needs in favor of cosmetic fixes or upgrades that magazines and TV say will increase their asking price. The thing they forget is, without the basics the home will not impress people on a base level. Sure it may have some impressive features but without the daily necessities, what's the point?
Before you start adding un-necessary extras to a home, take the time to make sure the everyday things are taken care of. These can be simple things like working fixtures and faucets, updated appliances and clean floors. The interior workings of the home should be checked and fixed if they are in need of repair. There isn't much sense in a home having a brand new solarium and hot tub if the plumbing system is in disrepair and there is mold growing in and around the pipes.
Every homeowner should go over their home with a fine tooth comb and find those little everyday things needing an upgrade or a fix before jumping into major renovations. You may find yourself making renovations only to have to go back at the end to repair something that should have been fixed before the building started.
Once the home is in tip-top condition and everything works as it should, then its time to consider making those price generating improvements. Buyers will feel much better looking at a home with an updated electrical system, a current plumbing system and a new roof than a home with a few nifty extras and a host of possible problems.
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Fix-ups That Can Speed Your Home Sale
You don't have to spend a fortune renovating your house to ensure a quick sale at the best price. Some of the most effective fix-ups are also the cheapest.
Spending just $400 to $500 on fresh landscaping, for example, can boost your home's value by $1,600 to $1,800, according to a survey of real estate agents conducted by HomeGain, an Internet real estate service. Spend another $300 on cleaning and de-cluttering your home, the survey found, and you could add another $2,000 or more to the sale price.
To pinpoint the projects that make the most sense, start by touring your property with fresh eyes, as if you were a prospective buyer. Drive or walk up to your house and see how it appears from the street. Walk through the front door and take a look around. You might ask a trusted friend to help you spot problems, clutter and weird smells that you've long since stopped noticing. Keep a pen and pad handy to list the projects that need to be done.
Here are some more tips to watch for and think about…
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