Top 5 Home Upgrades When Selling Your Home

Updating and upgrading your home can add value, but what repairs really recoup your investment?  Home sellers in the Greater Hartford area are facing the harsh reality of falling home prices.  One way to ensure top dollar for you home is to make small upgrades. Use this list as a guideline for investing into your home’s appearance prior to selling it to get the biggest bang for the buck. 

1. Vinyl Siding Replacement (85%) – Siding your home will run about $12,000 but you will recoup over $10,000 of the repair.  Remember, first impressions are EVERYTHING!  Ensuring your home has curb appeal will covert drive-bys into showings.  Also, vinyl siding in maintenance free, another plus for your potential home buyer. 
2. Minor Kitchen Remodel (79.7%) – A minor kitchen remodel generally runs about $23,000 with a recoup of $18,000 of the cost.  Here are a few tips to maximize your budget.  Reface old cabinets rather than purchase new.  Add new hardware to modernize the feel of your kitchen.  Splurge on glass backsplashes which add color and a luxurious feel. Thinner granite countertops with a beveled edge are a great way to add value without busting your wallet.  Look for mid-range appliances that mimic the high end.  If you have funds to only replace one appliance, go for the fridge and do stainless.
3. Garage Door Replacement (79.4%) – A new steel garage door runs about $1,400 and you will recoup about $1,100 of this expense.  Only replace the garage door if it is worn and tired looking.  Again, the garage door increases the curb appeal of your home.  Consider this repair especially if you have a front facing garage door. 
4. Wood Deck Addition (70.4%) – A wood deck in general will cost $12,000 and you will recoup about $8,700 of the investment.  This is a quick way to add outdoor living space; one of the hottest trends in real estate.  Consider wood over the composite materials.  Composite will run you about 25% more in the cost of materials and will only increase your return by about 4%.
5. Attic Bedroom Remodel (69.6%) – Building an attic bedroom (with full bath and living area) runs about $58,700 and will add an additional $41,000 to the value of your home.  Buyers are becoming more aware of homes with additional living space.  By 2008, 20% of young adults 24-35 years old are living in their parent’s home; up for 11% in 1980. This is one of the cheapest ways to add living space.

These are the top 5 home upgrades to consider when selling your home in Hartford or Tolland County.  This list was compiled from the National Association of Realtors in their annual Cost vs. Value Report.  To view the report in it’s entirety visit http://www.costvsvalue.com/  To have your property specific questions answered on a home upgrade for resale purposes contact Julie Tetreault at julieismyrealta@gmail.com