In my years as a home owner and working within the real estate services, I’ve been able to better understand what home projects bring about a positive return on investment. Here are a few home projects which are sure to get you multiple offers over asking:
- Bathroom remodel: (cost - $5,000-$20,000) if your bathroom is old and outdated, or just in need of a refresh, a bathroom remodel is a surefire way to bump up the asking price of your home. Replace linoleum with tile, swap the tub/shower fiberglass surround for subway tile, install a modern vanity, repaint the walls to a modern neutral color, install a modern light fixture, GFCI outlets and capable ventilation.
- Bathroom addition: ($10k-$50k) this is not for all homes, but for homes with three beds and one bath, add a master for some serious mark-up. For homes with upstairs bedrooms and a single downstairs bath: re-assign some space to an upstairs bath. See item 1. for recommendations on finishes.
- Curb appeal: ($1,000 - $20,000) your yard is one of the first things people will see when they approach your home. Tame overgrown vegetation, add new mulch, remove weeds, reseed the grass, list the home during seasons when plants are likely to flower. A verdant, flowering landscape is sure to excite prospective buyers.
- Remove popcorn, repaint ($500 - $5000) popcorn is so 80’s! Hire someone to dampen and scrape that stuff off and add a fresh coat of paint to the ceiling and to the walls. A new coat of paint that is likely to attract the many, and not the few is recommended to bring in the highest bids. (Think grey, white and beige)
- Standard repairs ($100-$3000) Engineered Inspection Group offers Pre-Listing Inspections for this express purpose. EIG regularly creates reports for prospective home sellers which identify defects that are in need of addressing. If the seller decides to make repairs, EIG needs a photo as evidence of repair to remove the defect from the report and send an updated report which can be included with the disclosures. Standard repairs range from applying caulk to joints, patching holes in drywall and repainting, installing switch plates and outlet covers to placing lag bolts into deck ledger boards, uprighting a falling fence or cleaning out the gutters.
Each of these items will help prospective sellers improve the value of their home without depleting a down payment for their next house. Contact Engineered Inspection Group if you have any questions regarding home upgrades before you sell, or require a general home inspection. We look forward to discussing with you!