Making Improvements Prior to Marketing Your Home For Sale

What pays?

In a slow market, a home that’s fixed up will sell quicker than one that isn’t. In a hot market, a home that’s updated will sell for more than competing homes in the area. A home that isn’t presented well can sit unsold, even in a hot market.

So, it’s natural when you think about selling to wonder what you might do to make your home as attractive as possible. You also want to be sure that the improvements you make will actually be appealing to potential buyers and will help your home sell more quickly and for more money. Otherwise, why bother?

This article will focus on various remodeling projects and their estimated value at time of re-sale. Other than remodeling projects, there are lots of relatively simple and inexpensive ways to do touch ups and to make most homes more attractive and marketable. (Learn more about this in the Staging section of this website.)

In 2002, REALTOR magazine and Remodeling magazine teamed up to report on the “Cost vs Value” of various remodeling projects. The report outlines the cost of specific remodeling and home improvement projects and the estimated percentage return if the house sold a year after the improvements were made. The following information is drawn from that report.

In reading this information, it is important to remember that return on investment is an approximation, a figure relative to specific homes and neighborhoods. Many variables - including the value of similar homes in the neighborhood, the market’s health, and the quality of design and construction - determine what a homeowner might gain from a remodeling project.

The report focused on 35 metropolitan areas. The information below specifically relates to greater Portland. I hope you’ll find it helpful.

I am happy to view your home and give you recommendations for both improvements and staging.

Give me a call today (503-319-4777)
or e-mail me at RealtorInquiry at AmoveInTheRightDirection dot com

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