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May 23, 2008

Cheap Home Upgrades
Everyone's feeling a pinch somewhere. Food and gas prices are soaring. Even the champ Home Depot reported a 3.4% decline in sales this year, closing a couple dozen stores and halting plans of an additional fifty. Homes in certain areas are declining in value due to competition and lack of appraisal values coming in on the positive side. Fewer people are splurging on the finer furnished luxuries and relying on old fashioned smarts and saving to get them through and keep them through.

The cost of living around the country and world is expected to continue to rise not fall. With fuel being 21% more today than it was last year, and homes being valued at up to 10% less in most areas than they were purchased for, it's no surprise that the new trend is cutting corners and expenses. Hybrids are up and SUV prices are being slashed. Just in case you didn't know, LeBron's Hummer gets 8 miles per gallon. Unless you're on LeBron's payroll or related to him, it might be a good time to start reconsidering some purchases or frivolous spending.

Now that we're all pumped up and in a great mood, let's discuss cheap home upgrades and shortcuts to spruce up your home and increase its appeal. If your home is for sale and already reduced, or about to go on the market, you may not have a ton of money to put into it. Buyers understand this, but are still looking for the best buy and house out there.

Some of the smallest repairs and details can make a world of difference to a room and your home in general. You don't need gold faucets to get an offer on your home. I mean it doesn't hurt... but let's save the gold for the rims of your new Hummer...

New Doors - New doors can make the exterior and interior of your home stand out and scream, "Pay attention!" (and full price) New storm doors, front doors, side doors and even interior doors and closets make an older home pop and feel instantly updated. Interior doors can be purchased for less than $40 a piece and exterior doors under $150. You can install them yourself as it's not that hard and a lot cheaper.

New Hardware - This is one of the small and yet noticeable details home buyers look at. It shows freshness and upkeep. When I say hardware I'm meaning cabinet handles, hinges and new doorknobs. It's best to go with brushed nickel as opposed to gold. (Remember we're saving that for the rims.)

Blinds and Window Treatments - New mini blinds (A few bucks a piece) and window treatments finish off a room and don't go unnoticed. Most window treatments are included with the sale of the home as they're custom so make sure as the buyer is aware of the perk, they're also happy with your selections. Try to remain neutral and appeal to many. The newer the better as buyers know the difference. If you're handy, you can also make valances or window toppers yourself buying the material in bulk and going online for patterns. It's a weekend project and not that difficult.

Basic bathroom upgrades - Believe it or not, you can walk out of K-mart with a complete Martha Stewart bathroom set for less than $100 and make your entire bathroom look new and fresh. Even if your fixtures are dated and can't be replaced, make sure the rest of the room sparkles and looks modern. A new shower curtain, towel sets, bathmats and all the smaller items usually are sold in a matching set. I'd try to stay away from completely matching them and offset the main pattern with something neutral. (If you're going with stripes for the curtain, stick with solid towels and maybe chrome sink items.) Pick three colors to work with.

Lighting fixtures and switches - If you still have those thin, square glass lighting fixtures, it's time to switch them out for something more modern. Even just a few rooms and hallways in the home will make a big difference. If your light switches are old, swap them out in less than two minutes and for less than two dollars. Buyers even notice electrical outlets and if they look like they were installed by Edison himself, it might be time for a cheap change.

Exterior beauty - It's quite necessary if you want anyone to be curious about the inside. Most home buyers drive by homes they find online first before calling their agent to schedule an appointment. Most will reduce half of their list based on the exterior alone. Your gold faucets won't even be seen! The atrocity. Keep it simple, trimmed, clean and colorful. If you have a brick home, make sure you add some bold colored flowers to planters on the steps, mulch beds or near walkways. Paint any railings. Wash the windows and clean the screens using a bristled round hairbrush. Buy new mulch or lava rocks for around the trees or shrubs. Most of the outside is cleaning and maintenance. If you go to a gardening outlet center, you can make great improvements for little cost. Always stand back and view everything from the street. It's only through photos online and driving by that a buyer decides if your home is good enough to make an appointment.

Just by doing some or all of the repairs above, you can change the look and feel of your home for less than expected. A lot of people overlook the basics when trying to make improvements. Although they may seem like really inexpensive, easy, simple repairs...they are.

5 Comments:

Anonymous tax foreclosure said...

This is great news for those that have faced this problem… it is hard enough to be in this place - but then to be hit with the taxes is almost a double whammy - great job sharing this great information

May 26, 2008  
Anonymous Stephen Winters said...

Excellent post. Simple cheap ideas for great returns.
Love the blog.

Steve

May 29, 2008  
Anonymous Rudy said...

I just love how realtors are the only one with positive outlook in today's US economy.

Probably the same reason why there are so many people still trying to sell their houses right now, thinking there may be buyers out there.

May 29, 2008  
Blogger Cecilia Sherrard said...

Rudy... I don't know if you actually read the post or what but, I'm certainly not blind or oblivious to the economy...

If anything I'm quite liberal with my opinions and facts.

I can't speak for other Realtors but we're having a pretty great 2008 so far... There are plenty of buyers out there and always will be. Everyone needs a place to call home. We just sold a couple of homes today as a matter of fact and are swamped with appointments this coming weekend as usual...

If home sellers do what they're supposed to do with price and condition, they should be able to sell...

I'm not sure why you're bitter... Are you trying to sell an overpriced home?

May 29, 2008  
Anonymous Sarah said...

Great tips. Will definitely help me.
Its good that 2008 is going good for you. Hope it goes well for me as well.

June 23, 2008  

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