Monday, February 23, 2015 / by Jen Koenig
I think I can speak for all home sellers when I say that getting the most money possible from your home sale is a huge priority. Living in a world where we're surrounded by seemingly hundreds of home improvement shows and thousands of online pictures & articles about home upgrades, we often get confusing, mixed messages about what truly adds value to your home. Unfortunately, too, there's not a one-size-fits all answer. For one homeowner, finishing a basement can dramatically affect the sale price. For another, it may not get the returns you'd expect.
Fortunately, though, there are some basic rules of thumb that DO make a difference and offer huge returns on relatively small investments. The article below highlights the top 10 improvements a seller can make in order to maximize the selling price of their home. These include everything from a solid cleaning to replacing your carpets or floors. I really like this article because it outlines the average cost for each improvement AND let's you know the average return on your investment. For example, simply cleaning and de-cluttering your home will cost on average $290 but get you $1990 more dollars at closing, which is a 586% return on your investment!
The most important thing you can do is speak to your listing agent BEFORE you start making changes. You don't want to spend tons of money ripping up your old carpets only to find out it won't actually help your home sell faster or for more money. Agents like those here at The Huemmer Home Team know what's going on in your market and will let you know what improvements will ACTUALLY result in you getting a higher offer. Madison and surrounding areas are getting more and more buyer interest and have tons of high demand neighborhoods. Our goal is to make sure your house stands out and shines on the market! The care we put into preparing each listing, combined with our aggressive marketing strategies, is why we are able to sell homes in less than half the time of the area average.
Here's a clip from the article (to read the whole article, click the link below):
"What's interesting is how consistently listing agents recommended the same home improvements. Nearly 100% of listing agents recommend cleaning and de-cluttering, while 97% recommended lightening and brightening and 80% recommended staging. These top three categories cost just a little over $1,000, yet netted sellers as much as $5,734 at closing."