Home Selling in 33139>Question Details

Josh Mo, Home Buyer in Miami Beach, FL

What home improvement could I make to my home that would result in the highest return on my investment?

Asked by Josh Mo, Miami Beach, FL Wed Jan 30, 2013

I want to sell my home before the end of the year, so please specify projects that can be completed within 9 months.

Help the community by answering this question:


Santiago Vitagliano’s answer
Everything that has been said here is valid and valuable, but the biggest mistake homeowners do when improving their property is under or over improvement or improvement at all. Determining your properties positioning against the market average "improvements" ( in other words - structures and finishes) is the first and most important benchmark required to answer your question. Our we develop luxury single family homes and I will gladly give you my developer opinion on your property and what needs to be done for FREE
0 votes Thank Flag Link Fri Mar 1, 2013
Well, to start a ‘green label’ adds an average 9% price premium to the sale price against other comparable homes. And don’t think your home has to be built green to qualify for these ‘green labels.’ Your home may qualify for several green designations without so much as changing your AC filter! See more info on green labels at http://www.devensellsflorida.com/go-green/.

Other, more traditional value-added home improvement options include:
--Bathroom remodels (mid-to-luxury upgrade) - typically have the highest return on investment.
--Kitchen remodels - minor kitchen upgrades (hardware, mid-range counter-top, painting/finishing) has the best return on investment as far as kitchens go. Full kitchen reno isn't too far behind but you don't get as much return due tot he hefty price tag associated with this project.
--Roofing - definitely in the top ten best ROI, believe it or not. Properties with new roofs are very attractive to home buyers.

Before you jump into any renovations, it's best to sit down with a Realtor® to find out if it's actually necessary to tackle any of these long and pricey updates. Depending on your location and the market when you're ready to sell, you may find that demand is high enough to comfortably sell your property with little or no renovations. Contact me if you'd like to chat further - and good luck!
1 vote Thank Flag Link Wed Jan 30, 2013
Exterior paint and a nice landscape for a first good impression, you will be surprised how many clients often comment "this house is absolutely beautiful" as oppose to "I didn't like this house at all" when they were exactly the same model. Then a new kitchen of course, got to make the cook happy ;)
1 vote Thank Flag Link Fri Feb 1, 2013
As a rehabber, I always place most of my money in the kitchen, master bath and outdoor living space.
1 vote Thank Flag Link Wed Jan 30, 2013
Here's a great article you'll enjoy:
"Should You Stay or Should You Go for a Remodel? 10 Points to Ponder"
0 votes Thank Flag Link Fri Feb 1, 2013
You always get all of your money back...with the simple stuff.
From 100% to 60% here is the priority you should consider.
1. Paint
2. Clean
3. Flooring
4. Back story
5. This is delicate....everything the woman TOUCHES must be one grade above the grade of the house. Beginning at the front door hardware to the kitchen facet.
6. Front yard landscaping.
7. Kitchen
8. Bath
9. Remediate obsolescence ($$$$$)
Now that the home is ready for prime time, engage all the senses. One in particular will move the potential buyer into your home.
Of course the right option for you depends on your situation, budget and resources. And of course you need to have completed the proper analysis. If you don't know the community ceiling you could easily end up with a serious bump on your head.

Best is success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
0 votes Thank Flag Link Wed Jan 30, 2013
How could we say not knowing what you have now or need? Updated bathrooms are a biggie and the kitchen is always a hot button for women.
0 votes Thank Flag Link Wed Jan 30, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer