Home Upgrades That Maximize Return on Investment for Your Sugar Land Real Estate
At Sugar Land Living, we’re dedicated to helping our clients get the best price when selling a Fort Bend County home. That’s why we often recommend investing in home upgrades that maximize return on investment (ROI); sometimes it takes money to make money.
Each year on their remodeling.com website, Hanley Wood Media Network (a leading information, media, event and strategic marketing services company serving the residential, commercial design and construction industries) lists national and regional data on the cost versus value of remodeling upgrades, and in their 2015 report for the West South Central region of the country (Texas, Oklahoma, Arkansas and Louisiana), the five mid-range priced upgrades with the best return on investment were:
Manufactured Stone Veneer — 98.2% of cost recouped
Entry Door Replacement (Mahogany, Fiberglass, Steel) — 72.4%-98.1% of cost recouped
Garage Door Replacement — 86.0% of cost recouped
Roofing Replacement — 82.0% of cost recouped
Siding Replacement (Vinyl) — 81.0% of cost recouped
Just as important, there are interior upgrades that offer significant return on investment at a fraction of the cost, namely lighting fixture and hardware upgrades, floor coverings and paint.
Lighting Fixture & Hardware Upgrades
Replacing lighting fixtures can make a huge difference in a home’s aesthetics. Small changes, even something as cosmetic as a light fixture, can make a world of difference to a potential home buyer. Another benefit of upgrading your lighting fixtures is that technology has advanced the last few years. Low energy lighting, such as LED, is longer-lasting and more cost-efficient to operate compared to halogen, incandescent and CFL light systems… a feature not wasted on home buyers.
Likewise, replacing hardware is relatively inexpensive (things like hinges, toilet paper holders, doorknobs and anything metal that’s attached to a wall or door). Accent hardware like towel rods and cabinet knobs are also on the low end of the cost spectrum, and though it might not seem like much, they really pull a home together when the finishes are coordinated.
Floor coverings are the forgotten upgrade. Many real estate agents recommend spending some money on floor covering, but it doesn’t have to be a lot of money. An investment of $600-$900 can result in a return in value up to $2,000 (depending on market conditions). In fact, you can spend even less than that. A few strategically placed nails can eliminate floor squeaks, and repairing broken tile and damaged floor boards go a long way toward eliminating distractions for the potential buyer.
The average price to paint interior walls in the Sugar Land area is $0.75-$1.47 per square foot, but the ROI can be as much as 250%. A neutral color palette helps potential buyers envision how their personal taste can be implemented into the house; however, that does not mean white (white is not a neutral color; it’s bright). Grays, beiges, warm beiges and yellows are great choices for wall color and making a space look more impersonal.
Upgrading advice is just one of the many services I offer my clients. Visit my Sugar Land Living website (http://www.SugarLandLiving.com/), and then let’s discuss the many other ways I can help you get the best return on investment when selling your Sugar Land real estate.