Part 2 - Maximize Your Return

The secret to making top dollar when I sell your home isn't really a "secret" at all. It simply takes self discipline and hard work. For this reason some people decide to take short cuts. And that's when the price you could demand begins to drop. I hope you choose not be one of those people!

We have seen numerous sales where well-thought out, well-placed investments of time, effort and a little cash have dramatically improved the sales price and decreased the time period in which a property has sold.  And the tips, below, will show you how several minor home improvements can substantially improve the marketability of your home.   However, there are no guarantees that you will recoup the money you spend -- and this is why it is important that you pick the right investments.

But even when you don't recoup all the money you invest to upgrade, many improvements can give you a significant edge over other properties on the market. And the failure to make some improvements can leave you at a tremendous disadvantage as buyers compare your property with other similar properties on the market. 

So, where should you begin?

Unless your home is in excellent condition or you're selling it as a 'fixer-upper' you probably have a list of repair or remodeling projects you might consider.

These can range from very simple jobs, such as painting a bathroom, to more complex room additions or remodeling projects. In considering any home improvement project, you should keep in mind a couple of important questions: Why are you doing it? Is it work that really needs to be done-such as a paint job or replacing a leaky window, or is it an item that you think might appeal to a potential buyer - a hot tub or sun room addition, for example. Will it aid in increasing the value of your home, or will it have no impact at all? Will it make the home or property more difficult to sell?

Some investments, like painting and landscaping, involve relatively little investment of money and yet return many times your cost. Other improvements that you think may add value have no meaningful impact. So, talk with your Realtor.  Try and figure out what improvements are currently "in demand" - before you spend any money.

Careful planning on your part is crucial.  In fact, most 'minor' projects can balloon into major ones if haven't thought things through in advance. Replacing the rusty bathroom sink fixtures is easy, right?  But do the new ones match the tub?  Ever tried to paint the ceiling?  Without spilling?

Whether you hire someone or do the work yourself, expect to spend more time and money than you initially anticipated. But by planning well, you can guarantee that the work you do adds the greatest value at the lowest cost. Be systematic. Try preparing your list into 'exterior' and 'interior' projects, then break it down further by room or outside area. Decide which projects you're going to do yourself and which will require outside help, and then prepare a rough estimate for each job.

One important factor to keep in mind is that if you do the work yourself, you'll probably generate more profit than what you paid out for the improvement. You can probably save anywhere from 10 to 30 percent by removing hired labor from the equation. One the other hand, you may pay more for work done by professionals, but the improvements can speed up the sale of your property.

Whether you tackle the work yourself or hire professionals depends on several factors.  Do you have the time? Can your friends or relatives help you, or are you going to do it all yourself? How skilled are you and family and/or friends in the task at hand?  You may decide to divide the job—the contractor does the major work and you do the less complicated work eg. finishing and cleaning.  And even a small portion of work on your part will save money.

But whatever you do, the key lies in doing it well. A POORLY DONE JOB CAN DO MORE HARM THAN GOOD. So if that means hiring a professional, do it.

Now let's take a look at some projects you may consider, beginning with some simple steps that can reap huge rewards.