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What's the best thing you can do to increase resale value?

e.g. Should old rickety windows be replaced?

Are there things that one can do that are very low cost?

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5 Answers

  • Walaw_logo_small_small
    Reputation: 63
    Business

    As the old saying goes, you never get a second chance to make a first impression. This rule applies to selling a home just as much as it applies to interviewing for a job. Accordingly, you want to focus on those cosmetic changes that will have a direct impact on any potential buyer's first impression of your home.

    What exactly should you change? That's impossible to tell without looking at your specific house and taking into account your specific budget. For example, rickety old windows would certainly be an option, particularly if they are so rickety that they stand out when looking at the home. But if the windows are about the 8th thing you see when you look at the home, or if you simply cannot afford to replace the windows, at least not without foregoing many other repairs, then there are several other changes that should probably take priority. Other possible repairs or "upgrades": new paint, either inside or out or both; a new fixture in a bath or kitchen, particularly if you are replacing one that obviously needs it; or landscaping, particularly if your yard is an ocean of weeds.

    Finally, I would not worry about "big ticket" items that will be seen only by the home inspector. Some people think you should pre-inspect so that you can correct all the flaws before the buyer inspects. The reality is, though, that every inspector is unique and, regardless of the work done, every inspector will find defects. So you have no guarantee whatsoever that the "big fix" would have been called out by the buyer. Instead, focus on the "curb appeal" of the place to elicit an offer. Once you've got a signed offer in place, you can -- and will, in this market -- renegotiate following the inspection.

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  • Avatar_default
    Reputation: 2

    My mom wants to buy a house and has cash. I have looked at a TON of houses with her. Number one cheap thing you can do: CLEAN IT. If it's not really, really clean, it makes us think the people probably don't stay on top of maintenance either.

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  • Greendrinkspic_small
    Reputation: 2
    Business

    New Windows & Doors Boost Curb Appeal & Get you the Most Bang for your Buck. The front of your Home is what Neighbors, Guests & Buyers see first.

    Installing a new steel entry door or garage door is a quick fix and an easy project that has a high rate of return on your investment. Moderately Priced Vinyl Windows also produces one of the highest rates of return for 2010.

    To see more Projects that have high rate of returns you can view the National Association of Realtors 2010-2011 Cost Versus Value Report for the Seattle Area.

    This can been seen at: http://www.remodeling.hw.net/2010/costvsvalue/division/pacific/city/seattle--wa.aspx

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  • 15_ab_small
    Reputation: 108

    Rarely does a buyer decide whether or not to buy the house based on the windows. New windows make them feel better about a house they have chosen for other reasons, but that doesn't mean they will pay more for it because it has new windows.

    The #1 easy thing to do is "stage" it well. That can include some repairs as part of the process, but not usually expensive ones. Many agents offer staging services for occupied homes included in the commission price.

    Always have an agent walk through the house and make you a list of the changes that would add value. Then you can do ALL the ones that are free or cheap and prioritize the others that cost more. Often if people do even 1/2 of the things on the list, and only the free and cheap ones, they can increase the value by 5% to 10% of the home's price.

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  • K_r_front-block_small
    Reputation: 7
    Business

    To chime in with the previous posts, a simple thing that goes a long way is to paint. It's an extremely cost effective solution to make any space feel updated and clean. The right color can also maximize the use of challenged spaces and can make any room feel warm and inviting.

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