Does it pay to fix your home?
The best reason to fix your home up is for personal enjoyment. But if you do a nice job, you can realize some of your investment back when you sell.
On average, you can expect to get back about 1/3 of what you paid for an upgrade in a normal real estate market. However, some upgrades pay off better than others. In general, the more personal the choice – i.e., strong colors, loud prints, or unusual fixtures – the less likely prospective buyers are to appreciate it.
Below is a list of upgrades that go over and how well they are appreciated:
| BUYERS LOVE IT: Nice, subtle paint jobs & wallpaper Crown mouldings Bigger baseboards Hardwood or stone floors Recessed and area lighting Upgraded kitchen Customized driveway Built-in barbeque Mature trees & landscaping |
BUYERS LIKE IT: Built-ins depending on function Upgraded fireplaces Upgraded light fixtures Outdoor trelisses Granite countertops Faux finishes Raised panel doors instead of flat ones Framed mirrors Decorative tiles |
Remember to consider the age and character of your home when making these kinds of upgrades. People looking for older or historic homes prefer upgrades that keep the original character and charm of these homes in tact.
Many buyers are looking for a home with a timeless feeling and character. Adding some of the features buyers love can get your home sold faster and possibly at a higher price.
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