Where to invest your limited $$$ before a sale to get maximum returns?

Posted on November 20th, 2008, by Jaya

Yes, its true, buyers will be more interested in a home with an updated kitchen & bath but what is the ROI (Return on Investment) in the current market? Right now in the SF Bay area, San Jose & surrounding areas it’s probably going to be negative.
Here is a list of good investments in

  • The key here is spending just the right amount but getting that million dollar look. If you can get your bath upgraded for less than $1000 do it but if you are going to spend $10000 stop, think about it, you might be throwing away money that you could use as down payment for your new home. If you can paint your cabinets instead of replacing them for over $5000 do it. Think re-facing, repainting, quick & easy fixes, DIY weekend projects……
  • Get the termite repairs & the rest of your section1 fixed. Don’t go with the companies that you use for inspection, get your realtor or stager to recommend someone cheaper) you can get this done really cheap & you get great returns how? (The buyer with a smart realtor will definitely ask you to pay for the section1 repairs. Now lets say that’s $6000 for a typical 50 year old single family home in the bay area), that is $6000 out of your pocket, If you can get it fixed and certified for $1000, that is a $5000 saving for you, its not only that, the more important point is that the buyer is walking into a certified home, especially a first time home buyer and will be so relieved to know that the house needs no repairs that he might just put in an offer!
  • I just cannot emphasize enough how important it is to get the property professionally staged. It is the best investment you can make. Its more then placing some nice looking furniture around the house, You have to make the buyers heart skip a beat when they step into the house, You have to make them fall in love with the property, Believe me that’s what staging does, it capitalizes on the emotional impact of the first impression. This is why I can’t stress enough that you have to stage it. It might make the difference between making a sale & not! A good stager will be able to hit the right emotional buttons with the buyer and make that connection. You want to the buyer to say - “I don’t know why but I just love that house, hope we get it!” The have to fall in love with the luxurious lifestyle they see at the house. And who knows, even in this current market, you might be able to start a bidding war and get your property sold way above asking price.

Staging is not just for condos or properties that don’t show well. Even if you have a great property, don’t think you don’t have to stage since it’s already a great property. This is where staging can really help accentuate the highlights of the property & suck those buyers in and get that bidding war started

Jaya

www.increasehomeappeal.com

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