With the real estate spring market just around the corner, a very common question we get from potential sellers is which small home improvements can get us the most for our buck?
Here's a list of the TOP ELEVEN Home Improvements & Repairs as reported by HomeGain* from data in a survey conducted in 2009:
1. Clean and De-Clutter: 872% Return on Investment (ROI). Spending $100-$200 can result in a home price increase of $1500-$2000.
2. Home Staging: 586% ROI. $300-$400 spent on hiring a Home Stager for consultation will result in a home price increase of $1500-$2000.
3. Lighten & Brighten: 572% ROI. $200-$300 will yield an increase in value by $1000-$1500
4. Landscape Front/Back Yards: 473% ROI. Spending $300-$400 will increase the value by $1500
5. Update Electrical: 309% ROI by spending $300-$400 will increase the value of your home by $1000-$1500
6. Replace or Shampoo Carpets: 295% ROI. With $400-$500, value will increase by $1000-$1500
7. Paint Interior Walls: 250% ROI on an investment of $500-$750, increasing the value by $1500-$2000
8. Repair Damaged Floors: 250% ROI. With an average cost of $500-$750, the value will increase by $1500-$2000
9. Update Kitchen: 237% ROI. By spending $1000-$1500 on updating your kitchen, you will see an increase in price by $2000-$3000
10. Paint Outside of Home: 201% ROI. $750-$1000 will yield an increase in price by $1500-$2000
11. Update Bathroom: 172% ROI. By spending $750-$1000 to simply update the bathroom, you can expect an increase in price by $1000-$1500.