Use this firsttuesday FARM Letter in your marketing. To request a FARM letter topic, or to see a list of all our FARM letter templates, visit our FARM Letter page.
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Wise renovations to enhance your home’s market value
Home improvements add value to your home. When used wisely, they make it more practical and appealing to potential homebuyers.
Keep all buyers in mind. For example, swimming pools rarely add enough value to recover installation costs. The upkeep and the danger posed to children also make some buyers apprehensive.
Be the best, but no more. Make only the improvements you find in similar homes in your neighborhood. Recent prices of comparable properties set the current value of your home, making pricey improvements like marble countertops and fancy lighting fixtures unlikely to pay off.
Don’t reduce value with add-ons. Expanding your home beyond the original floor plan is costly. A room addition tends to focus buyers on other similar but unaltered properties in the area.
Evaluate the cost-to-value. Seek the maximum return on your investment with smart achievable projects such as:
- upgrading the garage door;
- replacing the entry door with a 20-gauge steel door; or
- converting the attic into a bedroom.
Focus on the essentials. Choose projects which improve the home’s basic function – shelter – over aesthetics and expansion. Prudent maintenance projects include:
- fixing leaky faucets;
- repairing window seals and worn cupboards; and
- replacing torn window screens.
Boost your curb appeal! The exterior of your home makes the first impression. Get buyers in the door by:
- applying a fresh coat of paint;
- cleaning oil stains from the driveway;
- mowing or planting grass;
- removing unsightly shrubs and weeds; and
- repairing cracked walkways.
To learn how to get the most out of your home on a sale, give me a call today.
