Repair ROI

WHEN it comes to selling your home, you have a choice – to improve it or sell it as it is.

It can seem disingenuous to spend money on improving your home as you plan to move out – after all, why not let the new owners get it the way they want it?

But the truth is buyers are often swayed by a home where they do not have to do much – after all, moving in is hard work in itself.

Only about one-in-five sellers decide not to make any improvements to their property – but if you do this you will also have to expect to sell at a lower price as you are shifting repairs and upgrades onto the buyer. 

And do not be surprised if the buyer presents you with a hard bargain to get the price even lower.

So, if you do decide to spruce up your property before listing it, what works best? Not all improvements are worth the same to buyers.

Indeed, some improvements like swimming pools are unlikely to ever recoup their initial investment in your final sale price as they are too specialist or expensive to maintain.

But there are many more everyday improvements that not only make your house much more desirable to the new owners but may even return a profit on your investment – though they are usually close to break-even, the benefit to the seller being a multitude of fast offers rather than extra dollars in the bank.

The top items, fixtures, fittings, and alterations that help you sell your home – according to Remodeling Magazine’s 2021 Cost versus Value Report are:

1. Garage door replacement

• Cost: $3,907

• Resale: $3,663

• Recoup: 93.8 percent

2. Manufactured stone veneer

• Cost: $10,386

• Resale: $9,571

• Recoup: 92.1 percent

3. Minor kitchen remodel

• Cost: $26,214

• Resale: $18,927

• Recoup: 72.2 percent

4. Wooden deck addition

• Cost: $16,766

• Resale: $11,038

• Recoup: 65.8 percent

5. Vinyl siding replacement

• Cost: $16,576

• Resale: $11,315

• Recoup: 68.3 percent

6. Steel door replacement 

• Cost: $2,082

• Resale: $1,353

• Recoup: 65.0 percent

7. Vinyl window replacement 

• Cost: $19,385

• Resale: $13,297

• Recoup: 68.6 percent

8. Fiber cement siding replacement

• Cost: $19,626

• Resale: $13,618

• Recoup: 69.4 percent

9. Wood window replacement

• Cost: $23,219

• Resale: $15,644

• Recoup: 67.4 percent

10. Composite deck addition

• Cost: $22,426

• Resale: $14,169

• Recoup: 63.2 percent