Skimp Or Splurge On Home Improvements For Greatest ROI

Dated: 08/03/2017

Views: 203

So you’re thinking about selling your home?  Your weekend guilty pleasure is devouring a pint of Ben & Jerry’s® while cozied up on the couch watching “Flip or Flop.” Image titleYou’ve taken notes from Chip and Joanna, and you have a pretty solid idea of what you need to do to successfully get your home sold.  The thing is, some traditional majorly expensive and extensive projects may not yield the greatest return on your investment, while some simpler, more economical upgrades may skyrocket your ROI!  Below are some upgrades and stats for your consideration:

Major kitchen remodel: Sure, buyers want nice kitchens, but remodels are a big undertaking, and are one of the most expensive home improvement projects to complete. Make minor repairs, ensure your appliances are in good working order, and save the money and time for other improvements. ROI: 65%

Swimming pool: Hey! We won’t argue that pools aren’t welcome in this Arkansas heat and humidity…for about 3 months of the year.  But, we will say that they are incredibly expensive to install and maintain, regardless of their type. Skimp on this one, and take advantage of one of the new aquatic centers or some of the stunning natural bodies of water in the area. All things considered, a pool will yield about 20-30% ROI.

Finished basement: If you’re even fortunate enough to have a home with a basement in the Arkansas River Valley, consider finishing it out! Buyers often have grandiose visions and purpose for finished basements, and you’ll likely recover about 75% of your investment.

Backup power generator: Thunderstorms and ice are traditionally big electricity-killers here in Arkansas. You might be tempted to install an expensive backup power generator to keep your home running comfortably during power outages.  That’s a great idea for the comfort of your family, but it generally yields only about 60% ROI when it’s time to sell your home.

Replace the siding: A fresh exterior really appeals to homebuyers! Replacing the siding is one less item that will need to be dealt with by the new owner. Not to mention, it dramatically boosts curb appeal. Siding replacements bring serious ROI…to the tune of 93%!

Replace the roof: Buyers are very interested in the quality and condition of a home’s roof.  It’s one of the most popular subjects of inquiry during a tour. Put a new protective hat on your home, and yield about a 71% return on your investment. Image title

Replace old windows: Consider replacing your older windows with newer model energy-efficient ones. Not only will this save cost-conscious buyers in heating and cooling expenses throughout the home, it has a massive impact on the overall look of your home. ROI: 80%

Curb appeal: It turns out that the overall exterior, or curb appeal of your home is pretty important! Surprisingly, simply replacing the front door and adding some interesting, tidy landscaping are two very easy ways to gain a huge ROI – a staggering 303%. 

Staging/decluttering your space: When potential buyers tour your home, they want to envision their belongings and the visible ways in which they will build memories of their own.  They also love clean and organized spaces draped in contemporary style. But you don’t have to hire a professional stager, nor do you need to be an interior designer to effectively revamp your living quarters.  For maximum ROI impact (299%), visit online blogs, popular real estate websites, and even Pinterest® for DIY ideas.

 A little paint: It’s amazing what a can of neutral paint can do for both the interior and exterior of your home.  Consider it a fresh coat of makeup on a sad and tired face. The ROI for paint isn’t necessarily high, but your home and buyers will thank you. ROI: 40%

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Let Alethes Realty show you how we’ll sell your home FAST! Call us today @ 479-968-5668 for more information.

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