Home Repairs and Upgrades That Pay Off the Most
If you want to spend the time and money to fix up your house before you sell it, we can help. Having restored hundreds of homes, we’ve made every mistake imaginable so that you don’t have to. We are happy to share our experiences with you.
Before we talk about how to get the most out of your rehab budget, you might be able to sell your house “as is” and walk away from all the time and expense in six days instead of six months.
The average house requires $40,000 of repairs and upgrades in order to selling house fast. If your house is a candidate for repairs and upgrades, they will usually raise the market value enough to cover the costs. Some repairs and upgrades provide more pricing leverage than others. The most important thing is to spend your repair and upgrade money where it will raise the market value of your
For example, one of the lowest payouts is usually for roof replacement, even though the condition of the roof can be a deal breaker. Studies have shown that your roof is 40% of your curb appeal. A perfectly good roof can look like it needs replacement if it is soiled or discolored. Although a roofer will try to sell you a roof replacement, it may only need to be cleaned. In this example you would have your roof professionally cleaned for about $300 and spend your major repair and upgrade money elsewhere.
As you would guess, the upgrade with the highest payout is usually a kitchen remodel. The cost to do this in an average house is $20,000, but it is one of the best places to spend your repair and upgrade money.
Of course, each house is different, and it’s hard to say for sure where your money is best spent without a thorough inspection and analysis. Your realtor is your best source of help in deciding where you are most likely to recoup your repair and upgrade investments.