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Small Upgrades = Big Return
RISMEDIA, July 28 -- Nearly 2 million North American home owners are trying
to sell their homes this month, but many don't realize they won't recoup
money spent recently on big-ticket improvements.
HomeGain
surveyed real estate agents nationwide and learned that moderately priced
home improvements, ranging from $80 to $2,800, made in preparation for
sale actually yield the highest returns when a house is sold.
Based
on responses from 2,000 agents throughout the United States, HomeGain
developed a Prepare To Sell study with cost and expected benefit information
for lower-priced improvements. These figures are general and relative,
so they apply to Canada as well. They are:
| Improvement |
Typical cost |
Incr. in sale price |
Avg. return |
Agents who recommend |
| Lighten and brighten |
$86-$110 |
$768-$935 |
769% |
84% |
| Clean & de-clutter |
$305-$339 |
$2,093-$2,378 |
594% |
91% |
| Fix plumbing, electrical |
$338-$381 |
$922-$1,208 |
196% |
63% |
| Landscape & trim |
$432-$506 |
$1,594-$1,839 |
266% |
72% |
| Staging |
$812-$1,089 |
$2,275-$2,841 |
169% |
76% |
| Paint interior walls |
$1,453-$1,588 |
$2,342-$2,600 |
63% |
69% |
| Kitchen, bath upgrades |
$1,546-$2,120 |
$3,823-$4,885 |
138% |
83% |
| Repair flooring |
$1,531-$1,714 |
$2,267-$2,589 |
50% |
62% |
| Paint exterior walls |
$2,188-$2,381 |
$2,907-$3,233 |
34% |
57% |
| Replace carpeting |
$2,602-$2,765 |
$3,585-$3,900 |
39% |
65% |
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© 2010 Prudential Financial, Inc. and its related entities. An independently owned and operated broker member of Prudential Real Estate Affiliates Inc., a Prudential Financial company. Prudential, the Prudential logo and the Rock symbol are trademarks of The Prudential Insurance Company of America, registered in many jurisdictions worldwide. Used under license.
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