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Featured News
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Written by Anessa V. Cohen
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Thursday, 23 June 2011 10:33 |
 I happened to read the results of a survey done by HomeGain, a real estate marketing company. The topic of this survey was “Simple and affordable do-it-yourself projects that can greatly enhance a home’s resale value.†The marketing company surveyed nearly 600 real estate professionals to discover which of these do-it-yourself home improvement projects gave sellers the biggest return for their buck.
Although many of these items have been mentioned in my previous articles, this particular survey gave a dollar figure towards cost and return that really said it all. Here are six projects under $1,000 (amounts are estimated) that made the list.
1. Cleaning and decluttering. Remove any personal items, unclutter countertops, organize closets and shelves, and make the home sparkling clean. $290 Cost; $1,990 Return
2. Brightening. Clean all windows inside and out, replace old curtains, update lighting fixtures, and remove anything that blocks light from windows. $375 Cost; $1,550 Return
3. Smart staging. Rearrange furniture, bring in new accessories and furnishings to enhance rooms, incorporate artwork, and play soft music in background. $550 Cost; $2,194 Return
4. Landscaping enhancements. Punch up the home’s curb appeal in the front and back yards by adding bark mulch, bushes, and flowers and ensuring current plants and grass are well cared for and manicured. $540 Cost; $1,932 Return
5. Repairing electrical or plumbing. Fix leaks under the sinks, remove any mildew stains, and ensure all plumbing is in good working condition. Update the home’s electrical with new wiring for modern appliances, fix any lights or outlets that don’t work, and replace old plug points with new safety fixtures. $535 Cost; $1,505 Return
6. Replacing or shampooing dirty carpets. Steam clean carpets so that they look clean and fresh or replace any worn carpets and repair any creaky floors. $647 Cost; $1,739 Return
Obviously, there are many more things that can be done by do-it-yourselvers in preparing a house for sale other than these six projects. I have listed the six projects mentioned as part of this survey specifically to point out the amazing amount of dollar return on projects that cost very little to implement and just take a little elbow grease on the part of the homeowners involved.
Selling with an idea to let the buyer take care of whatever needs to be done—not taking care of small and doable projects—in effect lowers the amount of money that sellers might receive for their home. Just taking some time and effort may result in a great deal more bang for their buck by really preparing for that sale.
When you are ready to sell, have your real estate broker sit down with you and prepare the possible do it yourself projects that might assist you in realizing this extra buck potential prior to putting your house out for the public. In today’s times, every dollar helps!
Anessa Cohen lives in Cedarhurst and is a licensed real-estate broker and a licensed N.Y.S. mortgage broker with over 20 years of experience, offering full-service residential and commercial real-estate services (Anessa V Cohen Realty) and mortgaging services (First Meridian Mortgage) in the Five Towns and throughout the tri-state area. She can be reached at 516-569-5007 or via her website, www.AVCrealty.com. Readers are encouraged to send questions or comments to anessa.cohen@AVCrealty.com.
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