Boston-area homeowners looking to sell are finding it harder and harder to attract buyers. Their properties languish on the market not only putting their future plans on hold but causing enormous amounts of stress and aggravation. So much so that some frustrated homeowners feel like they need to visit a chiropractor.
Unfortunately, there's no one thing you can do to guarantee a sale (besides slashing the price), but there are some improvements you can undertake to increase your chances.
Of course, the grim reality of these home improvements is they're not free. You'll have to spend some money but you can lower your cost if you're willing to put in some sweat equity.
It may come as a surprise to you but we're not going to suggest adding a new bathroom or remodeling the home office. According to a recent survey conducted by Remodeling magazine, Boston-area sellers only recoup about half of their investment in a new bathroom and only 44 percent from fixing up their home office—so don't worry about calling the copier repair service or buying a new desk.
What does yield high returns are the so-called "appearance-based" improvements. Yes, a new bathroom helps, but to get the most from your money you should make the front of your home look more attractive. You might have to skip getting your TV repaired, and you should probably forget all about spending a week in Cancun, but if the sacrifices help sell your home it will definitely be worth it.
"Curb appeal is this kind of manifestation of inner grace," claims architect Samuel White, author of Nice House. "It matters because we live in society; we think about other people and we realize people think about us. And most of us would like others to think well of us. It’s a very powerful aspect of human nature."
Just walk, drive, or take a car service around Boston and look at homes. What draws your eye? It's certainly not the second bathroom. Sure, no one is going to buy a home based solely on curb appeal but in a very competitive economy how your home looks to a potential buyer could be the difference between a sale and another month on the market.
"I think that buyers make up their minds within 30 seconds," notes Patty Hornblower, a realtor with Coldwell Banker Residential Brokerage in Westwood. "So sellers need to put their best face forward. There’s not another chance to make a good first impression."
One improvement homeowners can do that will both improve curb appeal and yield a high return is adding a new steel front door. They have returns of more than 92 percent and in the Boston-area they cost around $1,400. Just remember, if you do change your front door make sure you call a Boston locksmith.
Don't stop at the front door. If it's in your budget you should replace your garage door too. New garage doors cost between $700 and $10,000. That's a lot of money, especially if you're not making a podiatrist or a veterinarian's salary, but getting a new garage door will make a world of difference.
"Garage doors are the first thing that you see normally," says David Plouffe, owner of New England Overhead Door located in Hopedale. "If they just look old and they’re beat up, you’re just getting off on the wrong foot."
Another thing homeowners should do is clean the outside of their house. A sparkling exterior makes a big difference to potential buyers.
"More and more homeowners that are trying to sell are using our [cleaning] services," explains Nancy Cassidy, owner of Mobile Power Wash of New England in Plainville.
If you pay someone to power wash the outside of your home expect to pay between $350 and $450. You can do it yourself for a fraction of the cost but be careful. It's hard work and if you're not up for it you might need physical therapy after you've finished.
Other things you can do to improve your home's appearance include replacing outdoor light fixtures, adding new house numbers, redoing your shutters, and cleaning the outside of your chimney. If it's possible replace all your old windows as well.
Finally, don't neglect your home's landscape. Adding some potted plants, hanging flowers, and window boxes really make your front yard pop. If buying new flora is out of the question then roll up those sleeves and get to weeding, edging, mowing the lawn, and washing your walkways and driveways. This approach actually works really well with smaller lawns.
If you can only improve one room inside your home make sure it’s the kitchen. It's the one room where first impressions really matter. Furthermore, kitchen remodels generally recoup three-fourths of their original investment. Experts recommend updating your cabinet doors, conducting appliance repairs, and replacing that old sink and faucet.
Whatever remodeling you decide to do, don't expect to get your entire investment back. Just remember that all home renovations should be done to make it more livable and comfortable. If you you're not going to do it for your own family then do it for the family that's going to buy your home.
About the Author
Brynn Alexander contributes to the CitySmarts series of websites, including
BostonSmarts and the
BostonSmarts Blog, a site dedicated to helping people in Boston.
Loading...