VALUE FOR HOME IMPROVEMENT DOLLARS

VALUE FOR HOME IMPROVEMENT DOLLARS

Since 1950, ERA Justin Realty, a real estate leader throughout Bergen, Passaic, Essex and Hudson Counties generates listings and sales of homes each day, totaling thousands of transactions. Some are pristine and some may call for improvements.  Catherine Nimmo a full-time sales producer with the firm shares her knowledge with these tips. “When you decide to undertake a major renovation or some minor home improvements, you may want to consider those improvements which could attract buyers and possibly increase your price if and when you sell your home. Should you put in a new kitchen or bathroom? Add a pool or new landscaping? Which improvements matter most and give the biggest return?

It is estimated that the average American family stays in a home for approximately seven years. Considering that your home is probably your most expensive asset, it makes sense to consult a home professional to identify those improvements that will appeal to more buyers and help it sell faster, and possibly for a higher price. Before taking on major home improvements, it is best to first take care of minor maintenance needs, such as fixing leaky faucets, grouting around tubs, cleaning gutters and so on. Buyers are more comfortable purchasing a well-cared for home because if what they can see is maintained, it is more likely that what they cannot see has also probably been maintained.”

Catherine continued, “Once basic maintenance needs are cared for, a real estate professional can be helpful in recommending home improvements that will increase the value of your home. For example, if you have extra funds to spend on one project in your home, and you are choosing between renovating your kitchen or adding a new in-ground pool, which do you think would increase the value of your home more?  Installing a new kitchen will generate a greater return when selling than a pool. Not all buyers want a pool, however, they all want an updated kitchen. 

Minor upgrades can also enhance the value of your property, according to the survey. Cleaning and decluttering go a long way to improving the sale of your home, and are recommended. Realtor agents also recommend adding light and brightness to a home with new lighting fixtures. Landscape improvements, fresh interior paint in a neutral color and removing old carpeting to expose wood floors or to replace with new carpet are also  recommended.  Other home improvements that will attract buyers include an additional bathroom or a finished basement.”