Informational Links For Sellers
Why Use a Realtor?
Setting Your List Price
Q&A’s About Selling Your Home
Pre-Inspection Guide for the Home Seller
Better Homes & Gardens Home Improvement Guide
Curb Appeal Checklist
| Inspect the outside ground. Remove any building materials, scrap wood, discarded household items, etc. from the property. Store garbage cans in the garage. |
Check the home from the roof line down.
- Is the roof free and clear from obstructions and moss?
- Are the gutters clear and neatly hung?
- Are the windows clean and free from obstructions (such as overgrown bushes or trees)?
- Are bushes, trees and shrubs neatly pruned?
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Inspect the condition of the paint or siding?
- Is it time to power wash the siding?
- Is touch up paint needed?
- Is the front door in good shape?
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Do flower beds need an upgrade?
- Are plants neatly pruned?
- Is the bed free and clear of weeds?
- Is the bed properly mulched?
- Are flowers in bloom?
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Keep the lawn neatly groomed.
- Is the lawn free from weeds?
- Is the lawn free from grass clippings?
- Is the lawn neatly edged?
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Which home improvements give the best payback?
If you’re thinking about remodeling your kitchen, or finishing your basement, you probably want to get your investment back when you sell your home. But when it comes to payback value of home improvements, some are definitely more profitable than others. As a general rule, kitchen and bathroom projects usually get a nice return on investment, typically 90% or more. Things like adding rooms or finishing basements tend to pay back the least. Finishing a basement usually returns less than 50%, so it’s not a project likely to show profit at selling time.
There are a number of factors that go into determining how well a project will pay back. Payback value depends a lot on the current market conditions in your area. If the market is hot and homes are selling fast, you can expect a higher payback value than you would get in a slow market.
The type of project you do and how it fits in with other homes in the area can have a big influence on payback too. If you put your money into the wrong type of improvement, you won’t get your money back. But if you’re smart about what you do, you can make money. The payback will be better on improvements that are in demand and conform to neighborhood standards. Adding a second bathroom in a neighborhood where most homes have two bathrooms will give a high return on investment. Building a large addition that makes your home twice as big as the other homes on the block probably won’t pay back very well. Likewise, the popularity of a project will factor into how much it pays back. An improvement heavily customized to your wants and needs won’t pay back as well as something more common to other homes in the neighborhood.
Another factor to consider is the cost of the improvements. If you can do the work yourself, you can save significantly on the cost of the project and greatly improve the chances of getting a good return on the investment.
The list below is compiled from several published surveys and shows typical payback for some popular remodeling projects:
- Minor Kitchen Remodeling 83%
- Add a Bathroom 90%
- Bathroom Remodeling 63%
- Install Central Heating 90%
- Install Central Air 75%
- Wood Deck Addition 85%
- Wood Window Replacement 81%
- Add a Room 55%
- Build a Pool 45%
- Finish a Basement 40%
A recent article in the Grand Rapids Press highlights the challenges of selling a home in the present market, just in time for the start of the spring real estate season. On the plus side, the story reports that inventory remains at 2005 levels, meaning sellers are in better shape than they would be if the market were flooded with homes for sale. On the other hand, the phenomenon of pent-up foreclosures that were stalled in coming to market after the recent freeze on foreclosures will have an impact once those foreclosures hit the market. Cheryl Grant advises serious sellers to list their properties while inventory is low, but to keep their eyes wide open in terms of expectations. A good place to start is to read the story “Realtors want West Michigan Home Sellers to Be Realistic, Especially About Price.” The story opens by comparing the process to the five stages of grief:
