Home improvement options: getting the most bang for your buck (feedback, foreclosures)

[NC_Paddler]

Hi Group,

Let's say have a budget of 10K and you want to invest that money into home improvement projects that will get the most return on your investment (under the presumption the house will be put up for sale soon). Here are the options, based on the needs for this particular property:

-- landscaping, including trees, flowers, bushes, clearing/weed removal, and perhaps some hardscaping (although the hardscaping adds up quickly, so I'll hardscaping as a separate option also)

-- hardscaping . . . new driveway and pathways around entrance (current driveway is pea gravel)

-- hardscaping . . . firepit and outdoor seating area

-- addition of a garden shed with rain harvesting system

-- wooden fencing around garden space

-- addition of hardscaping/removal of old concrete around entrance (this house was a remodel and there are some awkward remnants of the old house, including these concrete barriers that need to masked or removed).

-- something else

Thanks very much in advance for any ideas or advice.

[MrRational]

Clear and clean throughout the property.
Caulk, prime, paint and similar surface remedies. (tree trimming, flower bed mulch)
Fix anything that's actually broken. (from appliances to roofing)

$10,000 won't go a lot farther than that.
No substantive changes to anything at all... and especially if the plan is to sell.

hth

[amyla]

Clean Clean Clean-then if you can spruce up wood floors/take up old stained carpet-give the walls a fresh coat of paint-

[NC_Paddler]

I should have mentioned that the house itself is brand new; this was a complete remodel, so everything (interior and exterior) is less than a year old. Everything but the unfinished basement.

Is the 10K spent on improving the appearance of the property itself a waste of money?

[fallingwater]

I would hang onto the cash, put the house up for sale and see what kind of feedback you get.

[MrRational]

Originally Posted by NC_Paddler

Is the 10K spent on (non functional and cosmetic) improving the appearance of the property itself a waste of money?

Even if you are planning to stay put for 30 years... pretty much so and for the duration.
Check back in again in a few years.

[Jkgourmet]

I'd suggest bringing in a couple of realtors (you're gonna hire one when you sell anyway, and you should be interviewing several before you select one).

Let those realtors look at the house and make their suggestions. I'd recommend that you NOT tell them the dollar amount you want to spend. Just ask: What should be do to make this house most marketable?

Those realtors will know YOUR market, and YOUR competition.

[SouthernBelleInUtah]

Curb appeal gets them in the house. How much does this property have? Anything done to improve it will pay off.

[NC_Paddler]

Originally Posted by SouthernBelleInUtah

Curb appeal gets them in the house. How much does this property have? Anything done to improve it will pay off.

That's where I've spent most of my energy so far . . . cleared out the jungle that was the front of the property and replaced with mulch, ground cover, flowers etc. Major transformation. But there's still lots to be done.

But if I'm not going to get a return, then I'll call it a day and run with it. I've already put thousands (probably close to 8K) into landscaping, hardscaping etc. to improve curb appeal, but at the time, I thought I would stay. Decided to sell instead.

[chet everett]

Honestly if you spent this $10,000 that is apparently burning a hole in your pocket on a nice stack of gold coins there is absolutely no way it would entice buyers to spend $10,000 more than they otherwise would have. In fact, given the current dismal activity in pretty much every real estate market even lowering you asking price $10,000 or more below what would be fair may not attract any buyers if the number of foreclosures in your area is high...

Why do you want / need to sell? It won't really make a difference to potential buyers BUT if you can wait until demand improves that may be a wise move.

That ten grand you are thinking about spending might be thought of as X months of payments -- maybe a "fuse" toward an improving economy.

Originally Posted by NC_Paddler

That's where I've spent most of my energy so far . . . cleared out the jungle that was the front of the property and replaced with mulch, ground cover, flowers etc. Major transformation. But there's still lots to be done.

But if I'm not going to get a return, then I'll call it a day and run with it. I've already put thousands (probably close to 8K) into landscaping, hardscaping etc. to improve curb appeal, but at the time, I thought I would stay. Decided to sell instead.