Take stock of your home’s flooring by moving furniture out of the way and noting condition, scratches, stains, or blemishes. List what needs to be replaced, cleaned, or repaired. Carpets can be steam cleaned to eliminate stains and odors. If the carpets are path-worn and dull, you can replace them easily with other kinds of economical flooring with a reasonable ROI, although carpeting does make a room feel cozy. You can repair laminate floors cosmetically with repair kits found at home improvement stores. Hardwood flooring can be easily refinished if the wood is worn or water damaged. Seek the advice of a flooring professional because real wood floors add a level of quality to a home that laminate floors can’t replicate.
TIPS FOR KITCHENS AND BATHS
The first thing to determine in making upgrades to your kitchen and bath is what you believe constitutes a substantial investment. The key is to consider mass appeal for the sake of resale value. Maritz Research Staging Polls found that “79 percent of buyers indicated they would be willing to pay a premium for a home with an updated kitchen.” Some statistics rate this preference as high as 100 percent! One home owner decided to add a backsplash and more cabinet space in the kitchen. They also updated the appliances and refinished the oak flooring. Total cost: $4,000. The seller kept the price comparable to sales in the area and ended up selling for $27,000 more than the asking price because buyers started a bidding war. “Bathroom renovations may net you 75–100 percent return on your dollar,” according to The Appraisal Institute of Canada.
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