Aug. 1, 2014 at 11:49 AM ET
Is your home sitting on the market, just looking for someone to love? It may be wise to consider making a few upgrades to the property to find a buyer.
“Doing things like upgrades are going to sort of get you into that sweet spot to be able to sell,” HGTV's real estate expert Mike Aubrey said, and he is sharing details on four upgrades that are estimated to pay off big time.
If your home has an unfinished basement, consider turning that space into something that can be better utilized.
“If you just finish that with dry wall and flooring, it’s going to bring back great money,” Aubrey said, adding that basements are estimated to bring back nearly 80 percent of what home owners invest.
“The home has extended outside the home,” Aubrey said, meaning that it’s time to make your backyard shine with an attractive deck or patio.
If your deck isn’t in good shape, refinish it. If you have yet to invest in a deck or patio, it may be time. Aubrey said that while the average price of a deck is approximately $10,000, it’s estimated to return nearly 90 percent of the cost when it comes time to sell.
With millennials hitting the home-buying market, Aubrey suggests catering to their style. “Millennials do not want projects,” he said. “They want to come in and they want to start living.”
That means fixing up a damaged roof, replacing the heating or air-conditioning system if they aren’t in good condition and taking care of other noticeable needs before putting the home on the market. Aubrey said that if an inspector comes in and finds major problems with the home after an offer has been made, it’s going to cost more money than if it was handled before.
“It’s far cheaper to replace it up front,” Aubrey said.
If nothing else, one quick, easy and inexpensive way to step up your home’s value is simply by replacing door knobs and cabinetry hardware into an updated style, such as brushed nickel or oil-rubbed bronze.
“Sexy sells,” Aubrey said.