Five Top Money-Making Home Improvements | Texas Open Door ...

According to HomeGain?s (www.homegain.com) 2012 National Home Improvement Survey?the home?improvement ?projects that will bring you the?highest percentage?return are not necessarily the big ticket items.? HomeGain surveyed 500 Realtors nationwide to determine the top do-it-yourself home improvement projects that offer the biggest bang for your buck when selling your home.

Here are the top five projects that have the potential to bring some of the highest return on investment:

1.? Clean and Declutter: We all think we know what that means, but actually few people can honestly see beyond their own stuff.? It means?to remove?personal items, wash and clean all areas inside and outside the house, freshen air, remove clutter from furniture, counters, closets, cupboards, pantries and every area of the house; organize closets and professionally clean.? It usually takes an objective by-stander and a rented storage space to accomplish but the average cost is $402 and the potential return of investment (ROI) is 403%. That?s $2,024 added to the home?s sale price.

2.? Lighten and Brighten:? Do everything possible to bring in natural light: clean windows, replace or remove curtains and draperies, repair and replace lighting fixtures and remove?furniture and accessories that?dominate the space.??The average cost is $424 and the return on investment is 299% or $1,690.

3.? Repair Electrical and Plumbing:? This would not necessarily be a major project but would include repair and updating?items that can accumulate over time: updating leaky or old faucet spouts and handles or simply very outdated fixtures, repairing all leaks, and removing any mildew stains.? The electrical would include updated internet wiring, servicing sprinkler systems, making sure the door bell works, making sure all outlets work and GFCI outlets in bathroom, kitchen and the garage.? The estimated cost is $808 and the ROI is 293% or $3,175.

4.? Landscaping: Include both front and back yard.? Begin with adding bark mulch (not red!), rake and remove branches and debris, plant bushes and flowers or replace dead grass; mow grass; water lawn; remove any dead plants.? Add color around the entrance to the home.? Estimated cost: $564 and estimated ROI is $1,777 to the sales price of the home.? In the past couple of years, landscaping has risen to be one of the top three things needed to attract more buyers.? I think that has to do with the value of a first impression but also the steady increase of buyers who are finding their home on the Internet.

5.? Staging:? Remove personal items, examine each room to?create larger, brighter and more appealing space, reduce clutter, rearrange furniture, add new accessories or furniture to enhance appeal, use color to create larger more?buyer-friendly ?space.? The estimated cost for staging is $724 and the return on investment is 196% or $2,145 in increased sales price.

I think there is another important factor to consider about HomeGain?s list other than the return on investment.? The list quantifies the benefit of each item but it does not address the reduction of sales price for NOT addressing each area.? My experience is that the cost of not addressing each of these items is far greater than the potential return on investment.? With 94% of home buyers selecting the homes they want to preview on the Internet, the home?s visual presentation becomes your most important marketing tool.? There?s also the certainty that even if you don?t declutter, clean, address plumbing and electrical issues, landscape and stage, your competition will.

One final thing to consider about this list:? The more expensive ?and labor?intensive projects, such as an updated kitchen or bath, will provide a higher dollar increase in home sales price.? But the actual amount of that increase is greatly affected by the basics of HomeGain?s list.

Sondra/May, 2012

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