Selling Tip: Investment Projects

by kenlavertu on May 2, 2012

in Latest News

Sellers are on a budget as they prepare for re-sale. So which projects will get the most bang for the buck? Here’s some simple Do’s and Don’ts sellers should consider – we’ll list the Don’ts first.

Don’t:

Do:

  • Major on the minor. The greatest returns usually involve the most elbow grease. Simple tasks like shampooing the carpet, cleaning/re-painting walls, touching-up trim, de-cluttering, replacing low-wattage light bulbs with brighter ones, washing the windows, dusting, and removing the cob-webs can be even more effective than a pricey $15K renovation. I even recommend hiring a cleaning service – the professional touch is worth it!
  • Focus on energy efficiency. Steel doors and fiber-cement siding don’t make for great reality television, but they sure help with resale. It’s important here to mention energy-efficient windows. The truth is, energy-efficient windows have the least affect on your power bills – exterior doors and insulation are the most important. And there’s a general assumption that the federal government is offering tax-credits for window replacement. But, those tax-credits are currently expired. However, congress could vote to continue them in the future – these credits tend to come and go.  So before you purchase those energy-efficient windows, I strongly recommend calling a CPA to find out if the tax credits are even available and which windows qualify.
  • Scout the competition. Tour comparable homes in your area taking careful inventory of the appliances and building materials. Luxury items are great for high end homes in high end neighborhoods, but ultimately unnecessary for the average seller. The appliances and building materials need only be consistent with the competition, not superior to it.

If you’re wondering what improvements you should make, give me a call before you invest. I’d be happy to take a walk-through and make recommendations. No commitments, just my honest feedback.

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Post by Ken Lavertu

Ken has written 31 articles.

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