Wick and I are often asked: “What changes should I make to my home if I am going to sell in the next 1-5 years?”
There is a study that comes out every year that outlines the cost versus the value for various improvements. This means, how much money will I get back for doing this improvement? Here are the most impactful changes to make for the cost to complete them, or as I like to say, “more bang for your buck”:
#1) ENERGY EFFICIENCY: Add Insulation, upgrade your windows, and update your furnace. As of Jan 2018, all homes will have an energy performance score required to sell the home. Consider getting a score now and start making those energy upgrades. The best part is that there are low cost loans available through ENHABIT that are incorporated into your utility bill.
#2) 3 BEDROOM/2 BATHROOM: This is the most desired minimum standard for buyers. If you do not have this, explore your options. Adding a third bedroom or office space will open up options for buyers. Adding an extra bath can make all the difference. Are you missing a bath upstairs or on the main floor? Those are two buyer roadblocks.
#3) MINOR KITCHEN REMODEL: I love these and as you can see, I have many examples to show you. This is one of the BEST bang for the buck things to do. Keep the cabinets, update everything else: new counter tops, new fixtures, new appliances, add tile back splash, paint cabinets, and change hardware. You’d be surprised at how cheap this is and what a difference it makes!
#4) IMPROVE CURB APPEAL: You get WAY more than your money back in this area. This is the first impression and one of my favorite ways to spruce up a house. Look at the difference in these two pictures so you can see what I mean. Paint the house, replace the front door, add new house numbers, pull out old bushes blocking the house, and remove the grandma screen door.
#5) LANDSCAPING: Portlanders LOVE their yards, gardens, and flowers. Putting a small amount of time and energy into an inspiring outdoor area will yield BIG $$.
How do you prioritize a list like this? Call me. I’ll be happy to walk through your home to make a plan. We also have trusted contractors that we can refer you to and access to wholesale pricing on flooring, tile, cabinets and more for Ashley Realty Works clients.
At Ashley Realty Works, we are passionate about helping you make the best out of your #1 asset- your home.