Use this first tuesday 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.
Home improvements add value to your home, making it more appealing to potential homebuyers. Here are some tips for improving wisely!
Keep all buyers in mind. Make improvements which appeal to the largest number of buyers. Stay away from renovations that drastically alter the property. For example, swimming pools rarely add enough value to the home to recover installation costs. They also make some buyers apprehensive due to upkeep and the danger posed to small children.
Be the best, but only just. Apply improvements you find in homes of similar value. Recent home sale prices in your neighborhood influence the appraisal of your home, potentially making improvements like marble countertops and pricey lighting fixtures unlikely payoffs.
Don’t subtract value with add-ons. Expanding your home beyond the original floor plan is costly. The room addition will push buyers towards similar, unaltered properties in the area.
Evaluate the cost-to-value. Seek the maximum return on your investment. Pick projects that offer an 85% return or better, 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 improvement 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.
Give me a call today for a listing appointment. I’ll help you make smart decisions to get the most out of your home sale.