In order to get the highest price in the shortest time, you need to know how to market your home. The better you market your home, the more offers you will get. And the more offers you get, the more choices you have to get the price and terms you want.

Another important factor is the condition of your home. Make sure that your home looks ready to be sold. Fix any defects (peeling or faded paint, cracks, stains, etc.) Condition alone can sometimes prompt fast buying decisions. Not only should you fix any defects, but consider upgrading your home by making major repairs and cosmetic improvements before selling. A nice looking home triggers the emotional response that can lead to a financial response.


Rule 1:
If the house is in poor condition, improvements can increase the sales price.

Rule 2:
A thousand dollars spent to improve a home that is in good condition, seldom adds a thousand dollars to its sales price.

Rule 3:
Nothing adds value to a home like improvements to kitchens and bathrooms.


Cost vs. Improvement in Sales Price:
The table below, from a recent magazine survey, confirms our own observations. Typical home improvement projects are listed on the left. On the right, is the dollar amount added to a home's selling price for every $1000 spent on the project.

Project $ added to price
Minor kitchen remodeling $990
Adding a Bathroom $900
Major Kitchen remodeling $850
Adding a Family room $830
Adding a Deck $700
Replacing Windows $680
Replacing Siding $680

Reading the table:
On average, a person who spent $1,000 to add a bathroom, saw a $900 increase in the price of his home.
The family who spent $1000 to add a deck, saw a $700 increase in the sales price of their home.
Bottom Line:

Don't spend money to improve a house you plan to sell unless the house is in such poor condition that it cannot be sold without improvements. For example: the house needs a new roof to keep out the rain; or a modern bath with a shower.
Improvements might make sense if you can do the work yourself. If you can add kitchen cabinets for $500 rather than $1,000, you can still expect the $990 increase in the value of the home. On the other hand, shoddy work on those kitchen cabinets can reduce the value of your home.

Lastly, get the buzz out about your home. List your house with a hot agent that ensures your house is listed on the MLS and on the Internet. On your own, get the word out. It should be visible to passerby’s that your house if for sale, whether it be signs, local advertisements or you telling friends, family, and acquaintances.