One of the most asked questions I get when I visit with someone the first time about selling their home is, "What can I do to get top dollar?" This is usually a tricky question, if you are thinking about selling your home this coming spring it is a little too late for full renovations. so rather than tell my clients that their best options are cosmetic paint and clean up it turns out there are some improvements that are returning pretty close dollar for dollar on your investment.
According to a new report just out and sponsored by Hanley Wood Media. In and around North Texas the following home improvements can possibly return 90 cents or more on your dollars spent;
Attic Insulation (increasing your R factor with fiberglass) Average Job Cost $1,227.00 Average Resale Value $1,238.00, recoups 100.9%
Adding Manufactured Stone Veneer, Average Job Cost $7,290.00 Average Resale Value, $7,920.00, recoups 108.6%
Garage Door Replacement, Average Job Cost $1,593.00 Average Resale Value, $1,542.00, recoups 96.8%
Minor Kitchen Remodel, Average Job Cost $19,152.00, Average Resale Value, $17,494.00 recoups 91.3%.
Some of the poor performers on the home improvement list for immediate resale are;
Adding a Backup Generator....recoups approximately 53.8%
Adding an additional Bathroom....recoups approximately 59.6%
Vinyl Siding Replacement...recoups approximately 61.8%
While I want to stress....home improvement is always a great idea. Not allowing an expensive asset like your home to become a deferred maintenance nightmare is one of the best things you can invest your money in. But if you are thinking about putting your home on the market this season be smart about what you sink those hard earned dollars on. Remember paint, caulk and a neat and tidy yard are one of the most cost efficient improvements you can make!