SFGate: Home Improvements That Boost Resale Value
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This article was sent to you by someone who found it on SFGate.
The original article can be found on SFGate.com here:
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Tuesday, May 31, 2011 (SF Gate)
Home Improvements That Boost Resale Value
Amy Fontinelle, provided by
Now that it's spring, have you been thinking about undertaking a home
improvement project? If you're concerned with making upgrades that will
pay off when it's time to sell, consider these tips. (For more advice,
check out 4 Types Of Home Renovation: Which Ones Boost Value?)
TUTORIAL: Budgeting Basics
Cover the Basics First
One thing potential buyers don't want to face is expensive repairs. If
your home's basic structures and systems aren't in good condition, the
property will be considered a fixer-upper and its market price will be
discounted accordingly.
Systems
The roof, furnace, air conditioning, plumbing, water heater, electrical
system and windows are all basic elements of your home that must be in
good working order for your home to be attractive to buyers and command
top dollar. If any of these components are broken or malfunctioning, make
sure to fix them. If any of them are nearing the ends of their useful
lives and you can afford to replace them, do so before your home goes on
the market.
Exterior
After that, you can address the next level of basics. Make sure your
property has curb appeal by: Power washing the home's exterior, driveway
and sidewalks Cleaning the windows Mowing and edging the lawn Pulling
weeds Pruning hedges and other decorative plants Adding some new plants,
even in pots, to make your property look vibrant and inviting
(For more actions you can do to increase your home value, see
Do-It-Yourself Projects To Boost Home Value.)
Entry
Now that you've drawn prospective purchasers out of their cars, make sure
your home's entryway is appealing both outside and inside. If your front
door is ugly or damaged, replace it. At a minimum, you should clean and/or
paint your existing door. Also tend to all the details surrounding the
door. Sweep the porch Get rid of the cobwebs Replace the entry mat Clean
or replace the doorbell and light fixtures Add potted plants and flowers
Match the inviting exterior entryway with an inviting interior entryway.
There should be absolutely no clutter when potential buyers step into the
home, and the entryway should be defined as a distinct space. If you don't
have a formal entryway, you can create a defined space with the right
furnishings, like a rug, a framed mirror and a console table.
Clutter and Cleanliness
Speaking of clutter, one of the best "improvements" you can make to
improve the resale value of your home is to put away your stuff. If you
have lots of stuff, you may need to put some of it in storage. Buyers
should get the impression that your home is spacious and will easily hold
all of their furniture and other belongings. You also don't want your junk
to distract from your home's unique features and selling points, nor do
you want to have personal items around that make it more difficult for
buyers to picture their new lives in your old space.
Don't hide everything in the closets, either - buyers will be
investigating those areas, so they should also look spacious and
organized. A good scrubbing can really improve your home's overall
appearance as well. Before you replace anything, see if you can revive
what you already have. (For more ideas, check out Top Tips For
Successfully Renting Out Your Home.)
Little Upgrades with A Big Impact
Some minor replacements will produce big results for minimal cost. You
know that no matter how clean your 30-year-old bathroom faucet is, it's
still not going to be attractive. Replacing and coordinating hardware and
fixtures won't cost much, but it will make a big difference. So will
getting rid of any obviously dated finishes, like old wallpaper and brass
light fixtures. If your furniture is ugly, old or worn out, consider
buying inexpensive new furniture or renting furniture to make your home
more appealing. These and other staging techniques can give your home that
wow factor for relatively little expense and effort.
Substance Trumps Style
Remember when you first bought your house and you wanted to impress all
your friends and family when they came to see it for the first time?
That's the look you should be going for when improving your home and
preparing it for showings.
It's okay if you can't afford glamorous improvements like a remodeled
bathroom or kitchen. These projects are expensive and difficult, and
there's no guarantee that they will pay off - especially in a down market.
New buyers will be more inclined to spend money to renovate the inside of
your home and personalize it to their tastes than to buy a new roof. If
your home is fundamentally sound and immaculately presented, it can be
seen as a solid purchase with potential.
Bottom Line
When you don't know when or even if you will be able to sell your home,
choosing your home improvement projects carefully becomes extra important.
Unless you live in an upscale neighborhood and your home is already
immaculate, skip the fancy projects and focus on the fundamentals. (To
learn more, read 6 Tips To Sell Your Home Faster) Original story - Home Improvements That Boost Resale Value
Copyright (c) 2011 Investopedia US. All rights reserved. Investopedia.com
is a division of ValueClick, Inc. ----------------------------------------------------------------------
Copyright 2011 SF Gate
This article was sent to you by someone who found it on SFGate.
The original article can be found on SFGate.com here:
http://www.sfgate.com/cgi-bin/article.cgi?file=/g/a/2011/05/31/investopedia52746.DTL
---------------------------------------------------------------------
Tuesday, May 31, 2011 (SF Gate)
Home Improvements That Boost Resale Value
Amy Fontinelle, provided by
Now that it's spring, have you been thinking about undertaking a home
improvement project? If you're concerned with making upgrades that will
pay off when it's time to sell, consider these tips. (For more advice,
check out 4 Types Of Home Renovation: Which Ones Boost Value?)
TUTORIAL: Budgeting Basics
Cover the Basics First
One thing potential buyers don't want to face is expensive repairs. If
your home's basic structures and systems aren't in good condition, the
property will be considered a fixer-upper and its market price will be
discounted accordingly.
Systems
The roof, furnace, air conditioning, plumbing, water heater, electrical
system and windows are all basic elements of your home that must be in
good working order for your home to be attractive to buyers and command
top dollar. If any of these components are broken or malfunctioning, make
sure to fix them. If any of them are nearing the ends of their useful
lives and you can afford to replace them, do so before your home goes on
the market.
Exterior
After that, you can address the next level of basics. Make sure your
property has curb appeal by: Power washing the home's exterior, driveway
and sidewalks Cleaning the windows Mowing and edging the lawn Pulling
weeds Pruning hedges and other decorative plants Adding some new plants,
even in pots, to make your property look vibrant and inviting
(For more actions you can do to increase your home value, see
Do-It-Yourself Projects To Boost Home Value.)
Entry
Now that you've drawn prospective purchasers out of their cars, make sure
your home's entryway is appealing both outside and inside. If your front
door is ugly or damaged, replace it. At a minimum, you should clean and/or
paint your existing door. Also tend to all the details surrounding the
door. Sweep the porch Get rid of the cobwebs Replace the entry mat Clean
or replace the doorbell and light fixtures Add potted plants and flowers
Match the inviting exterior entryway with an inviting interior entryway.
There should be absolutely no clutter when potential buyers step into the
home, and the entryway should be defined as a distinct space. If you don't
have a formal entryway, you can create a defined space with the right
furnishings, like a rug, a framed mirror and a console table.
Clutter and Cleanliness
Speaking of clutter, one of the best "improvements" you can make to
improve the resale value of your home is to put away your stuff. If you
have lots of stuff, you may need to put some of it in storage. Buyers
should get the impression that your home is spacious and will easily hold
all of their furniture and other belongings. You also don't want your junk
to distract from your home's unique features and selling points, nor do
you want to have personal items around that make it more difficult for
buyers to picture their new lives in your old space.
Don't hide everything in the closets, either - buyers will be
investigating those areas, so they should also look spacious and
organized. A good scrubbing can really improve your home's overall
appearance as well. Before you replace anything, see if you can revive
what you already have. (For more ideas, check out Top Tips For
Successfully Renting Out Your Home.)
Little Upgrades with A Big Impact
Some minor replacements will produce big results for minimal cost. You
know that no matter how clean your 30-year-old bathroom faucet is, it's
still not going to be attractive. Replacing and coordinating hardware and
fixtures won't cost much, but it will make a big difference. So will
getting rid of any obviously dated finishes, like old wallpaper and brass
light fixtures. If your furniture is ugly, old or worn out, consider
buying inexpensive new furniture or renting furniture to make your home
more appealing. These and other staging techniques can give your home that
wow factor for relatively little expense and effort.
Substance Trumps Style
Remember when you first bought your house and you wanted to impress all
your friends and family when they came to see it for the first time?
That's the look you should be going for when improving your home and
preparing it for showings.
It's okay if you can't afford glamorous improvements like a remodeled
bathroom or kitchen. These projects are expensive and difficult, and
there's no guarantee that they will pay off - especially in a down market.
New buyers will be more inclined to spend money to renovate the inside of
your home and personalize it to their tastes than to buy a new roof. If
your home is fundamentally sound and immaculately presented, it can be
seen as a solid purchase with potential.
Bottom Line
When you don't know when or even if you will be able to sell your home,
choosing your home improvement projects carefully becomes extra important.
Unless you live in an upscale neighborhood and your home is already
immaculate, skip the fancy projects and focus on the fundamentals. (To
learn more, read 6 Tips To Sell Your Home Faster) Original story - Home Improvements That Boost Resale Value
Copyright (c) 2011 Investopedia US. All rights reserved. Investopedia.com
is a division of ValueClick, Inc. ----------------------------------------------------------------------
Copyright 2011 SF Gate

