Home Improvements That Pay Off

By Jacquelyn Brinker, Branch Manager, Union National Mortgage Company

Most homeowners want to sell their home because they want to move to a bigger or better home. Usually, the last thing we want to do is to invest more time and money in improving the home that we won’t be there to enjoy. Minor improvements can make the difference between a home that lingers on the market and one that sells quickly.

Some owners put their home on the market without sufficient preparation. They list the home then get feedback about it, which can cause them to make begin making some changes to the home. Unfortunately, the longer the home sits on the market, a stigma can become attached to the property. Making some changes up front before listing creates more interest in the property and a lot less stress for the owner.

Cost effective improvements include paint, removing dated wall coverings or perhaps changing flooring. Adding some colorful plants, repairing or painting fencing, cleaning up the yard, and a general spruce-up create curb appeal without a large investment.

Make the home warm and inviting by removing personal photos and clutter. The prospective buyer needs to feel at home and be able to visualize living there. Most homeowners could safely store about two-thirds of their belongings and still make the home look lived in. Not everyone can visualize a true transformation. Keeping things neutral helps an untrained eye be able to see the possibilities the home has to offer.

A few simple changes can make your house seem bigger, fresher, more comfortable and more appealing to buyers. A little investment upfront can mean a big payoff down the road.

As you list your home, work closely with your real estate professional to determine a competitive price. Keep your house in a well maintained condition. On the other hand, if you are deciding between some major improvements versus moving, remember that you virtually never get dollar for dollar from your investment. Remodeling Magazine indicates that a minor kitchen remodel will get the homeowner about 88 percent of the cost returned upon sale, but only 71 percent on a major kitchen remodel. Adding a bath, or remodeling a bath, about 81 percent return on investment. That deck? Sadly, only about 55 percent. In this instance, be cautious about your expenditures and expectations. Keep things neutral, and avoid “themes” that may not excite potential homebuyers.

Clean, chic, comfortable, and well priced will payoff in the long run. Keep these in mind because “Your Home Loan Matters.”

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