Preparing Your House For Market - Projects Which Provide A Return On Investment

Today's real estate market is truly competitive - there are a lot of listings on the market, and many are competing for the same buyers. So you need to do everything possible to make your house stand out above the rest. But to do that, you don't want to invest money which won't bear a good return. Some updates and changes are more "valuable" than others. A recent HomeGain survey showed six simple do-it-yourself projects which will bear excellent returns:

1. Decluttering and cleaning: counter-tops and sufaces should be free of all non-essential things. Decorative items are all well and good, but people want to be able to imagine their family photos, their accessories, and...well...their "things" in the house. Also, they want to see that the kitchen has adequate work surfaces, and cluttering the counters with "things" not only distracts, it makes the kitchen work surfaces look smaller. Ditto the bathrooms.
Cost: $0 - $290
Estimated Return on Investment: $1,900

2. Light and bright: replace all burned out bulbs, clean the windows - having everything sparkling clean and light-filled makes a house look welcoming and cheerful. Be sure to also turn on all lights (lamp and overhead) and open all blinds and windows when your property will be shown - a variety of lighting sources helps add cheer to the house.
Cost: $375
Estimated Return on Investment: $1,550

3. Staging: remove "excess" furniture, and rearrange the existing furniture to make the rooms appear larger; declutter the accessories; if walls are bland, hang just enough pictures or paintings to lend warmth (but the fewer nail holes to repair, the better!). And when the house is shown, a relatively neutral candle - vanilla, for instance - can add hominess without offending (or bake a pie just prior to the showing to give it that "your mother's house" feeling); soft music playing in the background helps relax people - walking through a house with only the echo of their footsteps on the hardwood floors can be unnerving.
Cost: $550
Estimated Return on Investment: $2,194

4. Landscaping: first impression count big time! Weed the beds, remove plants which have seen better days, add fresh mulch - have your home say "welcome" when people drive up.
Cost: $540
Estimated Return on Investment: $1,932

5. Repair Electrical and Plumbing: buyers will normally schedule a home inspection after successfully negotiating an acceptable offer. The inspector will check plumbing and electrical, among many other things. Why give the buyer cause for alarm with faulty plumbing or wiring? Repair any faults (and disclose them and their repairs) ahead of time; it will save you getting "beat up" during negotiations for repairs.
Cost: $535
Estimated Return on Investment: $1,505

6. Replace or clean carpeting: generally speaking, people over-estimate what repairs will cost them; spare yourself the pain of having the buyers submit high-priced requests for changing things like carpeting or paint colors - change them in advance with fresh carpeting or fresh paint which will give them that "let's move in, hang up our clothes, and start cooking dinner" feeling that today's buyers seem to want.

Remember, the market has changed in recent years; we've gone to a younger, more demanding Buyer who wants a house as close to perfect as they can get it. New construction generally has more appeal to today's buyers than older homes, so if you need to make your house as nearly "perfect" as possible while still keeping a handle on costs.