Let’s Talk Real Estate, April 2014 – by Graham Farran, Expert Properties
When preparing your home for sale, there are many inexpensive improvements that will bring you greater value and help sell your home faster. We’ve all heard that you should de-clutter, de-personalize and have chocolate chip cookies baking in the oven when it is shown. We also know that if you have unlimited funds that granite, hardwood floors and stainless steel appliances are all the rage, but expensive. And basic improvements, such as new carpet can still costs thousands of dollars. The following are some inexpensive ways to improve your home with very little cash, to consider before selling.
1. Replace Front Door—The National Association of Realtors does a study every year of “Remodeling Cost vs. Value Report”* and rates home projects with the highest and lowest return on investment. Last year, the highest return went to replacing your front door at 85.6%. A first impression is a lasting impression, so make it count. A dated front door makes a house look cheap, and a worn front door makes a house look uncared-for or old. If you cannot afford to replace your front door, paint it a bold color, using high-gloss paint. Put a flower pot on each side of the front door with flowers in bloom for extra impact.
2. Interior Doors—Replace old, dated, brown, flat panel wood doors with raised panel white doors or paint the existing door to make them look clean and fresh. Basic raised panel hollow-core doors cost $20 to $30 and come pre-primed.
3. New Electrical Switch Plates—This is such an easy improvement, but can really stand out and only cost about 50 cents each. For the entry, living room and other obvious areas, nicer bronze or brass plates run $5 each—and make a difference.
4. New Door Handles—An old door handle, especially worn gold ones look bad. For about $20, replace them with new bronze-finished handles. For an added touch, replace bathroom and bedroom door handles with the fancy lever handles for about $20 each.
5. Paint/Replace Trim—If the entire interior of the house does not need a paint job, consider painting the trim, using a semi-gloss bright white paint. Newer, modern custom homes typically come with beige or light brown walls and bright-white trim. If the floor trim is worn, cracked or just plain ugly, replace it! Lowe’s and Home Depot carry a new foam trim that is pre-painted in several finishes and costs less than 50 cents per linear foot. If you really want to create a great first impression, add crown moulding.
6. The Entry—After the front door, make sure the entryway is inviting. Use a plant, decorative piece of furniture or art that sets the tone for the home. If you have dated, linoleum entry floors, consider 12″ ceramic tiles, which run $100 to recover an 8’ x 8’ area.
7. Bathrooms—Any home with ugly, old shower curtains can be a turnoff and make it feel dirty. If your shower/tub is nice, buy a curtain that ties back so you can show off your tub and display decorative soaps and candles. If a shower door is worn and beyond reviving, consider simply hanging a curtain instead. If replacing, consider clear glass to make the bath look larger (unless the shower is unsightly then use obscure glass). A new shower door cost about $500. And, add a new vanity for only a couple hundred dollars more!
8. Kitchens—Replacing kitchen cabinets is expensive, and painting them can save money. Use a semi-gloss white and finish them with colorful knobs. For considerably more you can replace doors and paint them to match the cabinets. Americans spend a major amount of time in the kitchen so a nice bronze, modern faucet looks great, as well and only cost around $150.
9. Window Shutters and Trim—If the front of your home is plain or you have old-looking windows, consider adding shutters. You can purchase them in a few colors and they’re easy to install. Enhance your curb appeal by just painting the trim of your house.
10. Add a Nicer Mailbox and House Numbers—If everyone on the block has the same black mailbox, change it out for about $35 and for about $60 more, add a wooden post. This little detail is one buyers love! And, new house numbers or painting existing ones make good sense, too.
All indicators point to another year of increasing home prices, but go beyond what the market is doing and ensure you get more for your home by increasing its appeal!
Graham Farran of Expert Properties in Jacksonville, Oregon
*You can read more about last year’s study on our blog at http://expertprops.com/blog/.
Graham Farran is a broker with Expert Properties, located at 620 N. 5th Street in Jacksonville. Contact them at 541-899-2030 or online at www.expertprops.com.
Posted March 28, 2014