Weather you’re moving out of town, moving up or splitting up, everyone has the same goal when selling their home; to make as much money as possible.
One way to get a best price is to invest few dollars and some time to spruce up the place for prospective buyers. One rule of thumb is that you should prepare to set aside 1 per cent of your asking price; if you’re listing for $350,000, a renovating budget should be approximately $3,500.
Certain impropvements will get you more, though in most cases you will not get all your money back. The return can be anywhere from 0 for skylights and pools to an average of 50-75 per cent on high performing projects like kitchens and bathrooms.
Kitchen: You can expect to recover 75-100 per cent of your investment. The payback can be tremendous. Most buyers don’t want to undertake a big renovation project.
A few hundred dollars can give your kitchen a whole new look. You can clean the cabinets, sand them lightly and paint to look modern. Hardware and handles can be updated quickly and inexpensively. Replace the outdated tracklighting with a modern light fixture. The backsplash can be painted to have a fresh look. New stainelss steel appliances will be a worthwhile investment to finish the up-dated look.