than 100% in real estate, so the rule of thumb is “less is more.” Accordinging to HGTV, doing minor upgrades to the bathroom, such as recaulking, replacing old/outdated fixtures, changing the shower door, and giving the room a fresh coat of paint can yield a 102% return on investment. If your home is worth $275,000 and you spend $15,000 to revamp the kitchen, don’t make the mistake of assuming that the investment will increase the value dollar for dollar. The remodel may add value to the home, but the return in dollars spent will be around 50%. Smaller upgrades like replacing outdated fixtures in the kitchen and bath are certainly worthwhile, but major remodeling of those rooms is not wise. That’s not to say you can ignore necessary repairs that a home inspector would red-flag or a mortgage company would demand before issuing a loan to a buyer. If you are facing major problems, like a leaking roof or outdated electrical wiring, you must either address those repairs yourself or be prepared to make major concessions on pricing to the buyer, so that they will not have to bear the burden of major repairs as well as the price of the home.
STARTING WITH THE B G WITH THE BASICS
Every home that is listed should meet the basic expectations of any buyer. Your home should have a sound roof, functioning gutters and downspouts, a foundation without cracks, a functional heating and air-conditioning system, solid subflooring, and safe and secure electrical wiring. With finance- mandated home inspections, any shortcomings may be required to be remedied to get the buyer’s financing approved. You do not need to undertake extensive remodeling projects to sell your home or to increase the value of your property. You do need to be sure your property is up to the standards of the neighboring homes.
What’s important, though, is that you understand that the market
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