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Small Home Improvements With Big Returns for Sellers

By Donna Fuscaldo

 

Even in a housing market where inventory is low, buyers still want a move-in ready house and are willing to pay more for one that's turn-key. Sellers can increase their listing price and decrease the time their home sits on the market just by doing a few home improvement projects, experts say. But not all projects carry the same return.

 

"A big mistake a lot of home sellers make is they upgrade the kitchen thinking they will make so much more money on the house. But the rest of the house still needs upgrading or repairs," says Michael Corbett, Trulia's real estate expert. Home sellers have to look at repairs as a whole rather than a sum of parts, he says.

 

For a kitchen renovation, Corbett says the return on the investment is typically 78 percent, which may not make financial sense for all homeowners. However, if other improvements and upgrades are made, the seller is more likely to recoup the money spent, and then some.

 

The home improvement priority list depends on the seller's time frame. For those looking to list in the next couple of months, they can take on bigger projects than those looking to sell in a few weeks. However, every seller can increase the interest and price tag of their home by investing in increasing the curb appeal.

 

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