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Preparing to Sell – Home Improvements That Pay Dividends

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Generally speaking, there are two ways to approach home improvements. You’re either going to splurge on your home because you want a beautiful place to live, OR, you’re going to take a strict pragmatic approach designed only to increase your home’s value.

The truth is that you rarely achieve both. In fact, many homeowners open themselves up to the very problems they’re trying to avoid in the process of home fix-ups.

Let’s take a look at the most common areas of fix-up…

Kitchen Fix-Ups

Kitchen fix-ups mean serious profit when selling your home.  Even small, basic improvements to your kitchen can pay big dividends. Here are a few suggestions for improving your kitchen without investing tens of thousands in remodeling costs.

Consider changing floors, cabinets, and fixtures.  Consider sanding, staining, or painting dingy looking cabinets.  Replacing old cabinet hardware (a low-cost improvement) can make a huge difference in appearance.

Pay attention to your counter tops and other surface areas.  Also, look at the kitchen sink and fixtures.  If they’re old and worn, replace them with contemporary fixtures and a new sink. Since first impressions last it can make a world of difference.

Adding An Extra Bathroom

Adding an extra bathroom will, in many cases, pay for itself. Here’s an interesting factoid: adding a second bath to a home will add more value to a home than adding a third bath.  When adding baths, make sure you use skylights, windows, and other ways to bring in the natural light.

Adding New Space

Improvements that increase the functional space of a home are good profit centers. Converting an attic into a an bedroom can instantly make your three bedroom home a four bedroom home, and a much greater value. Finishing and improving a basement for a home theater or a place to shoot pool can recoup well over its cost once the house goes on the market.

Adding Decks And Patios

Outside improvements don’t fare well from a profit standpoint, however the addition of a redwood deck or enclosed patio off a living area not only increases the aesthetics of your home, but its usability. Decks and patio additions can recoup at least 75% of their cost in extra home value – especially if you’re going to be living in the home for a few years.

Painting Your Home

Painting proves to be one of the most profitable of home fix-ups. There’s virtually nothing a coat of paint won’t fix, especially if you plan to sell your home within a few years.

According to the National Association of REALTORS, painting the exterior of a home costs an average of $3,850, and recoups nearly 100% of its cost. Studies also show that painting the exterior has a meaningful effect on reducing the time to sell.

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Source by Mike D. Andrews

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