Lifestyle

Renovate to sell

The math is simple: be ready to invest one percent of the sale price in improvements to your home. You’re guaranteed to come out a winner! - BRAND X PICTURES / THINKSTOCK
The math is simple: be ready to invest one percent of the sale price in improvements to your home. You’re guaranteed to come out a winner!
— image credit: BRAND X PICTURES / THINKSTOCK

Home owners have a difficult decision to make when the time comes to sell their house: sell at a competitive price without renovating or invest in some improvements in order to sell at a higher price?

Without any major renovating, some basic repairs and modifications can consolidate the value of your house.

Start by taking care of your kitchen and bathrooms. A fresh look can be given to your cabinets by changing all the handles and knobs. Light fixtures can also be replaced: choose a ceiling light with three or five lights in order to brighten up a hallway, and use directional lights in the kitchen and lights fitted with dimmers in the living room and the bedrooms.

A coat of varnish or even a new wood stain on your floors can raise the value of your property. Do the same with all the woodwork, the window frames, and stair railings. Repair dripping faucets or shabby sinkware and replace out-of-date water heaters.

Don’t be afraid to invest at least one percent of the sale price of your home on small improvements. However small they may be, these jobs can turn out to be very profitable, especially in the kitchen and the bathrooms. Indeed, by investing $2,000, you can probably hope to add between $1,500 and $2,000 to the sale price. On the other hand, if you don’t invest this money you may have to lower your price by more than $5,000.

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