Of the various maths involved in residential real estate, calculating the value of home improvement projects is the most difficult. Return on investment is ultimately determined by the market. There are no definitive answers, unlike there are in the problem above.
A quick quiz: Which of these projects tends to provide the best return on investment for sellers?
A. Back Yard Patio Installation
B. Garage Door Replacement
C. Minor Kitchen Remodel
D. Window Replacement
Buyers are very much into move-in ready homes right now. They want what they see on TV, which is often updated, neutral, and sparse.
In most cases it does not make sense for a seller to do updates in order to list a home for sale. However, pretty much any seller can make progress towards making their home neutral and sparse.
We’re happy to help you decide how far to go as you prepare for the market, and to recommend contractors if you need help completing the work.
Our goal is to suggest projects that will either make you more money on the sale, or help the property sell more quickly, or both.
By the way, the Remodeling’s 2019 Cost vs Value Report says that answer B is the best response … replacing garage doors tends to provide sellers in the Hartford area the highest return on investment. Check out their website for the return on investment numbers for all 21 projects included in their report.