DIY’s to Increase your ROI’s

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DIY’s to Increase your ROI’s

With the fall market, right around the corner and the market stabilizing there is renewed optimism for the months ahead. Homeowners are once again getting excited to sell their homes. For some homeowner’s opportunities lie in enhancing your home prior to listing it for sale.

Here are a few enhancements that can offer the largest return on investment (ROI):

  1. Cleaning and Decluttering – Often under rated, doing a thorough cleaning of the home yourself and removing excess items can make it feel bigger and more welcoming. Clean Sells!! Undertaking the task, yourself could cost you nothing or hiring a professional could cost approximately $400.
  1. Lighting – Upgrading the lighting will not only make your home more energy efficient and stylish, but it will also highlight your homes best features. Simply using 100-watt light bulbs can make a statement and have your home sparkle. Buyers are looking for light, bright spaces.
  1. Curb Appeal – Set the stage for your home by planting fresh flowers and adding urns. In fact, this time of year, mums are plentiful and the array of colours will show off your homes curb appeal. Ensure that your yard is free of debris and any overgrown shrubs/plants are pruned.
  1. Painting – Paint not only the walls but also the baseboards and trim with a neutral colour. Doing it yourself will cost between $75 – $150 at a minimum while hiring a professional painter will get it done quicker, however, it will cost more.
  1. Flooring – Cleaning your carpet or polishing your hardwood requires very little investment to produce a great return. Adding hardwood or repairing existing flooring can be costly, but can provide an even greater return.
  1. Kitchen & Bathroom – Look at upgrading the kitchen and bathroom. E.g. new fixtures, fresh paint or even replacing the countertop or vanity.

Fig. 1

Investment Value

ROI

Cleaning & Decluttering – Professional

$400

$2,000

400%

Lighting

$100 – $400

up to $1,600

300%

Curb Appeal

$200 – $600

 $1,500 – $2,000

200% – 275%

Painting – Professional

$500 – $1,000

$2,000

100% – 120%

Flooring – Install Carpet/Hardwood

$600 – $900

up to $2,000

110% – 233%

Kitchen & Bathroom

$1,900

$3,200

100%

Before beginning any enhancement project, ensure that you receive guidance from a professional so that you don’t spend money on enhancing areas of your home that don’t require it. From time to time we have witnessed our clients invest money in areas that didn’t have a positive return. Our goal is to put every home we list in “showroom condition”. The ultimate goal is to generate the best price from the market place in a timely manner. We have a complete catalogue of trusted professionals who can assist with any renovation project. Please contact us at joseph@getbenczik.com for a copy. Spending a little now can mean a larger return at the time of sale.

 

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*Some conditions apply to the 28 days or we buy it program. Not all properties qualify and may be subject to a home inspection & staging consultation. Contact us for more details based on your specific real estate move.

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