What Are The Top 10 Upgrades To Increase Home Value
looking for your opinions on what you think are the top 10 upgrades one can do to increase the value of the home for resale. Example decks, spa's, auto sprinklers, and so on.
Mike...
You know I don't do SFR's but the National Association of Realtors does a study of this subject every year with costs breakdowns regarding ROI for various improvements.
Well, none of the items mentioned in your post would be on my list. In fact, no "upgrade" exists which will give you a return of your investment -dollar for dollar. Hence, none will give you a multiplier effect.
The hot items are the kitchen and bathrooms. Having said that, my approach is to add a few bells and whistles to enhance marketability and let the turkey fly. Less is better, Le$$ i$ more.
# 1 Is new paint - inside and out
#2 Is new carpet and other floorings
After that it would be
#3 New kitchen
#4 New bathrooms
Then it just falls off to things that cumulate to a better overall apperance and help sell the house. - Like new doors, base boards
Stuff that is a total money pit and waste of money is replacing the windows, doing additions, decks, fences... ect...
This is not taking into account if the item already exists and is so far gone that it has to be replaced in order for someone to even consider buying the house.
If you can do something because of special circustances that you get a huge return for then go for it. Like for instance if you had access to a free pile of flagstones and you laid in a flagstone patio with just your time and very little costs, then go for it.