Fixing Up Your House to Sell – Session 2<br />Mike Ford<br />Licensed Home Improvements Contractor<br />Licensed Real Esta...
What Buyers Want<br />Highlights from the NATIONAL ASSOCIATION OF REALTORS® 2007 Profile of Buyers' Home Features Preferen...
3<br />What single home feature do buyers say they want most in a new home?<br />Walk-in closet in master bedroom<br />Cen...
4<br />What’s the median size of homes purchased between late 2005 and early 2007?<br />2,230 square feet<br />1,840 squar...
5<br />Repeat buyers tend to be choosier than first-time buyers. In particular, repeat buyers place much more emphasis on ...
6<br />Within three months after buying a home, nearly half of all buyers remodeled or made improvements to which part of ...
7<br />Which home feature saw the biggest jump in buyer popularity since 2004, when NAR conducted its previous buyer prefe...
8<br />What three features did buyers say they’d be most willing to pay extra for in a home?<br />Proximity to work, a woo...
9<br />A home’s energy efficiency is most important to which segment of buyers?<br />Repeat buyers<br />Second-home buyers...
10<br />Where do first-time home buyers tend to purchase a home?<br />Rural area<br />City or urban area<br />Suburb or su...
11<br />What’s the most common type of home purchased?<br />Single level<br />Split level<br />Two levels<br />Three level...
12<br />What did new-home buyers most wish their home had more of?<br />Storage<br />Bedrooms<br />Kitchen space<br />Bath...
13<br />What single home feature do buyers say they want most in a new home?<br />Walk-in closet in master bedroom<br />Ce...
14<br />What’s the median size of homes purchased between late 2005 and early 2007?<br />2,230 square feet<br />1,840 squa...
15<br />Repeat buyers tend to be choosier than first-time buyers. In particular, repeat buyers place much more emphasis on...
16<br />Within three months after buying a home, nearly half of all buyers remodeled or made improvements to which part of...
5/25/2011Mike Ford<br />(703) 589-3848<br />17<br />Which home feature saw the biggest jump in buyer popularity since 2004...
5/25/2011Mike Ford<br />(703) 589-3848<br />18<br />What three features did buyers say they’d be most willing to pay extra...
5/25/2011Mike Ford<br />(703) 589-3848<br />19<br />A home’s energy efficiency is most important to which segment of buyer...
5/25/2011Mike Ford<br />(703) 589-3848<br />20<br />Where do first-time home buyers tend to purchase a home?<br />Rural ar...
5/25/2011Mike Ford<br />(703) 589-3848<br />21<br />What’s the most common type of home purchased?<br />Single level<br />...
5/25/2011Mike Ford<br />(703) 589-3848<br />22<br />What did new-home buyers most wish their home had more of?<br />Storag...
What Buyers Want<br />Highlights from the NATIONAL ASSOCIATION OF REALTORS® 2007 Profile of Buyers' Home Features Preferen...
5/25/2011Mike Ford<br />(703) 589-3848<br />24<br />National Association of Realtors Survey<br />Home buyers were asked ab...
5/25/2011Mike Ford<br />(703) 589-3848<br />25<br />What was Important while searching for a home?<br />It was “very impor...
5/25/2011Mike Ford<br />(703) 589-3848<br />26<br />Oversized Garages are The New Big Thing With Buyers<br />The most sign...
5/25/2011Mike Ford<br />(703) 589-3848<br />27<br />Change in Preferences in Time<br />It was “very important” to find a h...
5/25/2011Mike Ford<br />(703) 589-3848<br />28<br />Age Makes the Biggest Difference in What Buyers Want<br />Walk-in clos...
5/25/2011Mike Ford<br />(703) 589-3848<br />29<br />Examples of Differences in Desired Features by Age of the Buyers<br />...
5/25/2011Mike Ford<br />(703) 589-3848<br />30<br />Energy Efficiency is Most Important to New-Home Buyers<br />As buyers ...
5/25/2011Mike Ford<br />(703) 589-3848<br />31<br />How Important was a Home’s Energy Efficiency When Searching for a Home...
5/25/2011Mike Ford<br />(703) 589-3848<br />32<br />Bigger and Younger<br />From 2004 to 2007, the size of the typical hom...
5/25/2011Mike Ford<br />(703) 589-3848<br />33<br />Characteristics of Homes Purchased<br />The 2007 NAR Profile of Buyers...
5/25/2011Mike Ford<br />(703) 589-3848<br />34<br />Detached and Suburban<br />Over four-fifths of homes purchased are det...
5/25/2011Mike Ford<br />(703) 589-3848<br />35<br />Type and Location of Homes Purchased<br />The 2007 NAR Profile of Buye...
5/25/2011Mike Ford<br />(703) 589-3848<br />36<br />From the Closing Table to the Home Improvement Store<br />Sixty percen...
5/25/2011Mike Ford<br />(703) 589-3848<br />37<br />Who Did Home Improvement Projects Within Three Months of Purchase?<br ...
38<br />Which Home Improvement or Remodeling Projects?<br />Rooms where improvements were undertaken:<br />Features added ...
5/25/2011Mike Ford<br />(703) 589-3848<br />39<br />Very Important Home Features on the Rise<br />
5/25/2011Mike Ford<br />(703) 589-3848<br />40<br />Where Buyers will Pay for Key Features<br />
5/25/2011Mike Ford<br />(703) 589-3848<br />41<br />Improvement Justification<br />When you consider its value at resale, ...
5/25/2011Mike Ford<br />(703) 589-3848<br />42<br />What to Expect to Pay for the Improvements<br />Kitchens<br />Countert...
5/25/2011Mike Ford<br />(703) 589-3848<br />43<br />Kitchens<br />Basic improvements to your kitchen could be the key to g...
44<br />Kitchen Cabinet Refacing<br />Expect to pay $130 to $150 per opening. This means every single opening in your kitc...
45<br />The Downside to Cabinet Refacing<br />Limited to existing layout<br />Materials limitations - There generally are ...
46<br />Kitchen – Midrange Major Remodel<br />The average amount spent on a midrange update  in the U.S. is $58,897.00.<br...
Kitchen – Midrange Major Remodel<br />Update 200-square-foot kitchen<br />30 linear feet of semi-custom wood cabinets<br /...
48<br />Kitchen – Upscale Major Remodel<br />The average amount spent on a major kitchen-remodeling job in the U.S. is $11...
Kitchen – Upscale Major Remodel<br />Update outmoded 200-square-foot kitchen<br />30 linear feet of top-of-the-line custom...
5/25/2011Mike Ford<br />(703) 589-3848<br />50<br />Countertop Types<br />Type<br />Price Per Square Foot<br />
5/25/2011Mike Ford<br />(703) 589-3848<br />51<br />Countertop Types<br />
52<br />Bathroom – Midrange Major Remodel<br />A midrange full-bath remodeling job in the U.S. has an average price tag of...
Bathroom – Midrange Major Remodel<br />Update an existing 5-by-7-foot bathroom<br />Replace all fixtures<br />30-by-60 inc...
Bathroom – Upscale Major Remodel<br />54<br />The average amount spent on a major upscale bathroom remodeling job in the U...
55<br />Bathroom – Upscale Major Remodel<br />Expand an existing 35-square-foot bathroom to 100 square feet within existin...
5/25/2011Mike Ford<br />(703) 589-3848<br />56<br />Flooring<br />
5/25/2011Mike Ford<br />(703) 589-3848<br />57<br />Paint<br />For most exterior paint jobs, labor makes up about 75-85% o...
5/25/2011Mike Ford<br />(703) 589-3848<br />58<br />Paint<br />Costs typically average $1,500-$3,000 for an average single...
5/25/2011Mike Ford<br />(703) 589-3848<br />59<br />Inexpensive Tip #6<br />Adding crown molding, wainscoting and coffered...
5/25/2011Mike Ford<br />(703) 589-3848<br />60<br />Decks<br />Installing a deck may be the most cost-efficient way to add...
5/25/2011Mike Ford<br />(703) 589-3848<br />61<br />New Space<br />As a rule, improvements that increase the functional sp...
5/25/2011Mike Ford<br />(703) 589-3848<br />62<br />Basement<br />Turning your basement into a room for socializing will s...
5/25/2011Mike Ford<br />(703) 589-3848<br />63<br />Landscaping<br />Fancy gardens — which will require time and money to ...
5/25/2011Mike Ford<br />(703) 589-3848<br />64<br />Home Maintenance<br />It may not be all that enjoyable, but it's the b...
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Fixing up Your House to Sell - Session 2

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Session 2 of Fixing up and Staging your House to Sell

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Fixing up Your House to Sell - Session 2

  1. 1. Fixing Up Your House to Sell – Session 2<br />Mike Ford<br />Licensed Home Improvements Contractor<br />Licensed Real Estate Salesperson<br />(703) 589-3848<br />
  2. 2. What Buyers Want<br />Highlights from the NATIONAL ASSOCIATION OF REALTORS® 2007 Profile of Buyers' Home Features Preferences<br />
  3. 3. 3<br />What single home feature do buyers say they want most in a new home?<br />Walk-in closet in master bedroom<br />Central air conditioning<br />Backyard<br />Fully finished basement <br />
  4. 4. 4<br />What’s the median size of homes purchased between late 2005 and early 2007?<br />2,230 square feet<br />1,840 square feet<br />1,450 square feet<br />1,000 square feet <br />
  5. 5. 5<br />Repeat buyers tend to be choosier than first-time buyers. In particular, repeat buyers place much more emphasis on these home features:<br />Fireplaces and air filtration systems<br />Bay windows and finished basements<br />Oversized garages and master bedroom walk-in closets<br />Backyards and proximity to entertainment <br />
  6. 6. 6<br />Within three months after buying a home, nearly half of all buyers remodeled or made improvements to which part of the house?<br />Master Bathroom<br />Backyard<br />Kitchen<br />Home office <br />
  7. 7. 7<br />Which home feature saw the biggest jump in buyer popularity since 2004, when NAR conducted its previous buyer preference survey?<br />High-speed Internet access<br />Media room<br />Eat-in kitchen<br />Oversized garage <br />
  8. 8. 8<br />What three features did buyers say they’d be most willing to pay extra for in a home?<br />Proximity to work, a wooded lot, and a backyard or play area<br />Whirlpool baths, proximity to schools, and a deck<br />A corner lot, a lawn sprinkler system, and high-end kitchen appliances<br />Central air conditioning, walk-in closets, and hardwood floors<br />
  9. 9. 9<br />A home’s energy efficiency is most important to which segment of buyers?<br />Repeat buyers<br />Second-home buyers<br />New-home buyers<br />First-time buyers <br />
  10. 10. 10<br />Where do first-time home buyers tend to purchase a home?<br />Rural area<br />City or urban area<br />Suburb or subdivision<br />Small town <br />
  11. 11. 11<br />What’s the most common type of home purchased?<br />Single level<br />Split level<br />Two levels<br />Three levels <br />
  12. 12. 12<br />What did new-home buyers most wish their home had more of?<br />Storage<br />Bedrooms<br />Kitchen space<br />Bathrooms <br />
  13. 13. 13<br />What single home feature do buyers say they want most in a new home?<br />Walk-in closet in master bedroom<br />Central air conditioning<br />Backyard<br />Fully finished basement<br />
  14. 14. 14<br />What’s the median size of homes purchased between late 2005 and early 2007?<br />2,230 square feet<br />1,840 square feet<br />1,450 square feet<br />1,000 square feet<br />
  15. 15. 15<br />Repeat buyers tend to be choosier than first-time buyers. In particular, repeat buyers place much more emphasis on these home features:<br />Fireplaces and air filtration systems<br />Bay windows and finished basements<br />Oversized garages and master bedroom walk-in closets<br />Backyards and proximity to entertainment<br />
  16. 16. 16<br />Within three months after buying a home, nearly half of all buyers remodeled or made improvements to which part of the house?<br />Master Bathroom<br />Backyard<br />Kitchen<br />Home office<br />
  17. 17. 5/25/2011Mike Ford<br />(703) 589-3848<br />17<br />Which home feature saw the biggest jump in buyer popularity since 2004, when NAR conducted its previous buyer preference survey?<br />High-speed Internet access<br />Media room<br />Eat-in kitchen<br />Oversized garage<br />
  18. 18. 5/25/2011Mike Ford<br />(703) 589-3848<br />18<br />What three features did buyers say they’d be most willing to pay extra for in a home?<br />Proximity to work, a wooded lot, and a backyard or play area<br />Whirlpool baths, proximity to schools, and a deck<br />A corner lot, a lawn sprinkler system, and high-end kitchen appliances<br />Central air conditioning, walk-in closets, and hardwood floors<br />
  19. 19. 5/25/2011Mike Ford<br />(703) 589-3848<br />19<br />A home’s energy efficiency is most important to which segment of buyers?<br />Repeat buyers<br />Second-home buyers<br />New-home buyers<br />First-time buyers<br />
  20. 20. 5/25/2011Mike Ford<br />(703) 589-3848<br />20<br />Where do first-time home buyers tend to purchase a home?<br />Rural area<br />City or urban area<br />Suburb or subdivision<br />Small town<br />
  21. 21. 5/25/2011Mike Ford<br />(703) 589-3848<br />21<br />What’s the most common type of home purchased?<br />Single level<br />Split level<br />Two levels<br />Three levels<br />
  22. 22. 5/25/2011Mike Ford<br />(703) 589-3848<br />22<br />What did new-home buyers most wish their home had more of?<br />Storage<br />Bedrooms<br />Kitchen space<br />Bathrooms<br />
  23. 23. What Buyers Want<br />Highlights from the NATIONAL ASSOCIATION OF REALTORS® 2007 Profile of Buyers' Home Features Preferences<br />
  24. 24. 5/25/2011Mike Ford<br />(703) 589-3848<br />24<br />National Association of Realtors Survey<br />Home buyers were asked about 75 features and room types to assess the importance of each<br />Buyers who didn’t get a feature they desired in the home they purchased, were asked how much extra they would have been willing to pay to get it <br />The survey examined home improvement or remodeling projects undertaken by recent buyers<br />The survey is based on 2,530 responses from buyers who purchased a home in between late 2006 and early 2007<br />The sample was obtained from Experian, a firm that maintains an extensive database of recent home buyers derived from county records <br />
  25. 25. 5/25/2011Mike Ford<br />(703) 589-3848<br />25<br />What was Important while searching for a home?<br />It was “very important” to find a home with:<br />
  26. 26. 5/25/2011Mike Ford<br />(703) 589-3848<br />26<br />Oversized Garages are The New Big Thing With Buyers<br />The most significant change between the previous & current survey in what buyers consider very important is oversized garages (up 16 points)<br />Hardwood floors, granite countertops, and cable-readiness follow<br />
  27. 27. 5/25/2011Mike Ford<br />(703) 589-3848<br />27<br />Change in Preferences in Time<br />It was “very important” to find a home with:<br />
  28. 28. 5/25/2011Mike Ford<br />(703) 589-3848<br />28<br />Age Makes the Biggest Difference in What Buyers Want<br />Walk-in closets for older buyers<br />Back yards for younger buyers<br />
  29. 29. 5/25/2011Mike Ford<br />(703) 589-3848<br />29<br />Examples of Differences in Desired Features by Age of the Buyers<br />The 2007 NAR Profile of Buyers' Home Features Preferences<br />
  30. 30. 5/25/2011Mike Ford<br />(703) 589-3848<br />30<br />Energy Efficiency is Most Important to New-Home Buyers<br />As buyers age, this becomes more important <br />
  31. 31. 5/25/2011Mike Ford<br />(703) 589-3848<br />31<br />How Important was a Home’s Energy Efficiency When Searching for a Home?<br />Age of Home Buyer:<br />The 2007 NAR Profile of Buyers' Home Features Preferences<br />
  32. 32. 5/25/2011Mike Ford<br />(703) 589-3848<br />32<br />Bigger and Younger<br />From 2004 to 2007, the size of the typical home purchased increased by about 100 square feet<br />The median age of homes purchased decreased from 15 to 12 years<br />
  33. 33. 5/25/2011Mike Ford<br />(703) 589-3848<br />33<br />Characteristics of Homes Purchased<br />The 2007 NAR Profile of Buyers' Home Features Preferences<br />
  34. 34. 5/25/2011Mike Ford<br />(703) 589-3848<br />34<br />Detached and Suburban<br />Over four-fifths of homes purchased are detached single-family homes<br />More than half are located in the suburbs<br />
  35. 35. 5/25/2011Mike Ford<br />(703) 589-3848<br />35<br />Type and Location of Homes Purchased<br />The 2007 NAR Profile of Buyers' Home Features Preferences<br />
  36. 36. 5/25/2011Mike Ford<br />(703) 589-3848<br />36<br />From the Closing Table to the Home Improvement Store<br />Sixty percent of buyers undertook home improvement projects immediately after the home purchase <br />Median amount spent on home improvement or remodeling projects undertaken within three months of the purchase was $4,350<br />
  37. 37. 5/25/2011Mike Ford<br />(703) 589-3848<br />37<br />Who Did Home Improvement Projects Within Three Months of Purchase?<br />Buyers who purchased homes aged:<br />The 2007 NAR Profile of Buyers' Home Features Preferences<br />
  38. 38. 38<br />Which Home Improvement or Remodeling Projects?<br />Rooms where improvements were undertaken:<br />Features added or replaced:<br />5/25/2011Mike Ford<br />(703) 589-3848<br />The 2007 NAR Profile of Buyers' Home Features Preferences<br />
  39. 39. 5/25/2011Mike Ford<br />(703) 589-3848<br />39<br />Very Important Home Features on the Rise<br />
  40. 40. 5/25/2011Mike Ford<br />(703) 589-3848<br />40<br />Where Buyers will Pay for Key Features<br />
  41. 41. 5/25/2011Mike Ford<br />(703) 589-3848<br />41<br />Improvement Justification<br />When you consider its value at resale, a home improvement project costs only 20 cents to 25 cents on the dollar. <br />The other 75 cents to 80 cents spent on a project goes directly back into the home through increased value — not to mention increased owner enjoyment.<br />Kermit Baker, director of the Remodeling Futures Program at the Joint Center for Housing Studies at Harvard University.<br />
  42. 42. 5/25/2011Mike Ford<br />(703) 589-3848<br />42<br />What to Expect to Pay for the Improvements<br />Kitchens<br />Countertops<br />Bathrooms<br />Flooring<br />Painting<br />Decks<br />Landscaping<br />Maintenance<br />
  43. 43. 5/25/2011Mike Ford<br />(703) 589-3848<br />43<br />Kitchens<br />Basic improvements to your kitchen could be the key to getting your house sold. For most buyers, the kitchen is the heart of the house.<br />Paint the walls and update the floor if necessary. <br />Replace old cabinet hardware — a low-cost improvement that makes a big difference in appearance. <br />Be sure to go with a classic design and, if possible, use high quality materials. Replace dingy-looking or dated cabinets.<br />
  44. 44. 44<br />Kitchen Cabinet Refacing<br />Expect to pay $130 to $150 per opening. This means every single opening in your kitchen... doors, drawer fronts and false fronts. Each door is an opening. The average price for materials and labor, runs anywhere from $4,000 to $8,000 depending on door style, wood species, stain choice, and decorative trims.<br />
  45. 45. 45<br />The Downside to Cabinet Refacing<br />Limited to existing layout<br />Materials limitations - There generally are three finish options: plastic laminates, rigid thermofoils (RTF) and wood veneer. <br />Other conditions that rule out refacing include existing cabinets that are beginning to fall apart or aren't well built to begin with; metal cabinets that are rusting; and larger structural issues, like floors that have settled and left cabinets out of kilter.  <br />
  46. 46. 46<br />Kitchen – Midrange Major Remodel<br />The average amount spent on a midrange update in the U.S. is $58,897.00.<br />Resale Value - $43,456<br />Source: Remodeling 2010–11 Cost vs. Value Report (www.costvsvalue.com)<br />
  47. 47. Kitchen – Midrange Major Remodel<br />Update 200-square-foot kitchen<br />30 linear feet of semi-custom wood cabinets<br />3-by-5-foot island<br />Laminate countertops<br />Standard double-tub stainless-steel sink with standard single-lever faucet<br />Energy efficient wall oven, cooktop, ventilation system, built-in microwave, dishwasher, garbage disposal<br />Custom lighting<br />Resilient flooring<br />Painted walls, trim, and ceiling.<br />47<br />Source: Remodeling 2010–11 Cost vs. Value Report (www.costvsvalue.com)<br />
  48. 48. 48<br />Kitchen – Upscale Major Remodel<br />The average amount spent on a major kitchen-remodeling job in the U.S. is $115,436.<br />Resale Value - $69,048<br />Source: Remodeling 2010–11 Cost vs. Value Report (www.costvsvalue.com)<br />
  49. 49. Kitchen – Upscale Major Remodel<br />Update outmoded 200-square-foot kitchen<br />30 linear feet of top-of-the-line custom cherry cabinets with built-in sliding shelves and other interior accessories<br />Stone countertops<br />Imported ceramic- or glass tile backsplash<br />Built-in refrigerator, cooktop, and 36-inch commercial grade range and vent hood; built-in warming drawer, trash compactor, and built-in combination microwave and convection oven<br />High-end undermount sink with designer faucets<br />Built-in water filtration system<br />General and task lighting including low-voltage undercabinet lights<br />Cork flooring, cherry trim.<br />49<br />Source: Remodeling 2010–11 Cost vs. Value Report (www.costvsvalue.com)<br />
  50. 50. 5/25/2011Mike Ford<br />(703) 589-3848<br />50<br />Countertop Types<br />Type<br />Price Per Square Foot<br />
  51. 51. 5/25/2011Mike Ford<br />(703) 589-3848<br />51<br />Countertop Types<br />
  52. 52. 52<br />Bathroom – Midrange Major Remodel<br />A midrange full-bath remodeling job in the U.S. has an average price tag of $17,167.<br />Resale Value - $12,052<br />Source: Remodeling 2010–11 Cost vs. Value Report (www.costvsvalue.com)<br />
  53. 53. Bathroom – Midrange Major Remodel<br />Update an existing 5-by-7-foot bathroom<br />Replace all fixtures<br />30-by-60 inch porcelain-on-steel tub<br />4-by-4-inch ceramic tile surround<br />Single-lever temperature and pressure-balanced shower control<br />Standard white toilet<br />Solid-surface vanity counter with integral sink<br />Recessed medicine cabinet with light<br />Ceramic tile floor<br />53<br />Source: Remodeling 2010–11 Cost vs. Value Report (www.costvsvalue.com)<br />
  54. 54. Bathroom – Upscale Major Remodel<br />54<br />The average amount spent on a major upscale bathroom remodeling job in the U.S. is $55,398.<br />Resale Value - $32,547<br />Source: Remodeling 2010–11 Cost vs. Value Report (www.costvsvalue.com)<br />
  55. 55. 55<br />Bathroom – Upscale Major Remodel<br />Expand an existing 35-square-foot bathroom to 100 square feet within existing house footprint. Relocate all fixtures<br />42-by-42-inch neo-angle shower <br />Ceramic tile walls with accent strip<br />Recessed shower caddy<br />Body-spray fixtures<br />Frameless glass enclosure<br />Customized whirlpool tub<br />Stone countertop with two sinks; two mirrored medicine cabinets with lighting<br />Compartmentalized commode area with one-piece toilet<br />Humidistat controlled exhaust fan<br />Color fixtures<br />Larger matching ceramic tiles on the floor, laid on the diagonal with ceramic tile base molding<br />General and spot lighting including waterproof shower fixture<br />Custom drawer base and wall cabinets for a built-in look<br />Extend HVAC system<br />Electric in-floor heating and heated towel bars.<br />Source: Remodeling 2010–11 Cost vs. Value Report (www.costvsvalue.com)<br />
  56. 56. 5/25/2011Mike Ford<br />(703) 589-3848<br />56<br />Flooring<br />
  57. 57. 5/25/2011Mike Ford<br />(703) 589-3848<br />57<br />Paint<br />For most exterior paint jobs, labor makes up about 75-85% of the cost of painting your house, while actual paint and supplies makes up only 15-25%. <br />Do not skimp on paint quality when choosing your paint. Paying a few extra bucks per gallon might add $200 to the total job, but if your paint lasts for 8 years instead of 4 years, that is a pretty minor expense to incur.<br />
  58. 58. 5/25/2011Mike Ford<br />(703) 589-3848<br />58<br />Paint<br />Costs typically average $1,500-$3,000 for an average single-story, three-bedroom home, but easily run $3,000-$5,500 or more for a multi-story or multi-level larger house. <br />
  59. 59. 5/25/2011Mike Ford<br />(703) 589-3848<br />59<br />Inexpensive Tip #6<br />Adding crown molding, wainscoting and coffered ceilings can have an immediate impact on your home.<br />Replacing baseboard, casing and chair rail can have a dramatic effect as well.<br />
  60. 60. 5/25/2011Mike Ford<br />(703) 589-3848<br />60<br />Decks<br />Installing a deck may be the most cost-efficient way to add square footage to your house, and of all the outdoor home improvements except painting, it may be the most reliable value. Deck additions average $14,728<br />
  61. 61. 5/25/2011Mike Ford<br />(703) 589-3848<br />61<br />New Space<br />As a rule, improvements that increase the functional space of a home hold their value longer than ones that just make a house look better. It's also significantly cheaper than adding an addition to your home. <br />Converting an attic into a bedroom, for example, usually costs about $35,960<br />
  62. 62. 5/25/2011Mike Ford<br />(703) 589-3848<br />62<br />Basement<br />Turning your basement into a room for socializing will set you back, on average, $56,724<br />
  63. 63. 5/25/2011Mike Ford<br />(703) 589-3848<br />63<br />Landscaping<br />Fancy gardens — which will require time and money to tend — usually won't add to the offering price. <br />In general, landscaping is for your own enjoyment. It may be a $40,000 investment, but it will not add $40,000 to the value of your house.<br /> The same goes for expensive fences and stone walls. They look nice, but buyers don't pay up for them. <br />
  64. 64. 5/25/2011Mike Ford<br />(703) 589-3848<br />64<br />Home Maintenance<br />It may not be all that enjoyable, but it's the basic improvements that may have the greatest return on your home's value. "You could have a beautiful new kitchen, but if your roof is leaking, you have a real problem. So if you're thinking of putting your house on the market in the next year or so, be sure to tackle any problems with the home's structure or mechanical systems before you, say, install that hot tub you've always dreamed of. <br />

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