Home Seller's Guide to Money Making Fix-ups part 3

Home Seller's Guide to Money Making Fix-ups

This multi part series is dedicated to assisting homeowners with minimum repairs that could add big dollars to the sell of their home.

Most homeowners never discover that certain small, even inexpensive repairs to their existing home could generate many times their cost in additional home value. But on the other hand, other repairs and improvements can cost you dearly. It's critical to know what repairs and improvements to spend money on…and which ones to leave alone.  Below I have listed a few more helpful tips.

Kitchen Fix-Ups

Here's an area that can mean serious profit when selling your home. Even small, basic improvements to your kitchen can pay big dividends. For most buyers, the kitchen is the heart of the home. And that means it has the greatest profit potential. Here are a few suggestions for improving your kitchen without investing tens of thousands in remodeling costs.

In the short term, consider changing floors, cabinets, and fixtures. Consider sanding, staining, or painting dingy looking cabinets. Replacing old cabinet hardware (a low-cost improvement) can make a huge difference in appearance.

Look at your counter tops and other surface areas that draw the eye. Also, look at the kitchen sink and fixtures. If they're old and worn, replacing them with contemporary fixtures and a new sink can make a world of difference…not just in aesthetics, but in hard dollars. 

In some cases, spending $4,000 on a cosmetically outdated kitchen can add as much as $15,000 in extra value of the home.

Adding New Space

Generally, improvements that increase the functional space of a home are good profit centers. For example, one homeowner had a storage area that was accessed from the outside, and bordered the laundry room. The homeowner knocked out the wall in the laundry room to the storage area, eliminated the outside door to the storage area, and added over 100 more square feet in storage and useable space, which is now accessed from the inside, not the outside.

The repair, which cost only about $1,500, increased the home value an estimated five times its cost to perform.

Converting an attic into a bedroom suite can instantly make your four bedroom home a five bedroom home, and a much greater value.

Look around your home for areas that can easily be expanded, refurbished, and functionally added onto to increase the number of bedrooms, baths or useable square footage, and you've found a great profit center.

To learn more about adding value to your home prior to marketing it for sale give me a call or email at anytime.

Pamela Efferson, REALTOR

Better Homes & Garden Real Estate Anderson Properties
Phone: (713) 862-0000
Fax: (713) 490-3550
Email: pamela@SellingHomesInHouston.com

Blog: https://blogs.har.com/Efferson
Web: https://www.har.com/Efferson