HomeGain 2009 Top 12 Home Improvements Survey Results
Posted by: Jessica Gopalakrishnan on November 4th, 2009
Due to popular demand from the real estate community, HomeGain.com regularly conducts its nationwide home improvement and home staging Home Sale Maximizer™ survey. Past findings from the survey have been a guide for thousands of home sellers in preparing their home for sale.
HomeGain recently conducted a new survey of top 12 low cost*, do-it-yourself (DIY) home improvements for people getting their home ready to sell. Nearly 1,000 REALTORS® responded to the survey.
The top five nationwide home improvements that Realtors recommend to home sellers, based on average cost and return on investment (ROI) to sellers, are:
- Cleaning and de-cluttering ($200 cost / $1,700 price increase / 872% ROI / 98% recommended)
- Home staging ($300 cost / $1,780 price increase / 586% ROI / 82% recommended)
- Lightening and brightening ($230 cost / $1,300 price increase / 572% ROI / 95% recommended)
- Landscaping ($320 cost / $1,500 price increase / 473% ROI / 94% recommended)
- Repair Plumbing ($385 cost / $1,250 price increase / 327% ROI / 88% recommended)
Costs are averages and rounded up. For ranges of values, see chart 1 below. For actual price increase, see chart 2 below.
Cleaning and de-cluttering continues to rank as the top suggested home improvement (since the survey was originally conducted in 2003). This low cost home improvement is recommended by 98% of Realtors and costs less than $200 but has a returning value of nearly $1,700 to the home’s sale price, or an 872% return (ROI).
“Inexpensive cosmetic home improvements and basic improvements greatly enhance the value of the home,” stated Carol Wilson of Carpenter Real Estate in Indianapolis, IN (AgentEvaluator member since 1999).
In 2007 survey results, Lightening and Brightening had the second highest ROI followed by Home Staging. Two years later, Home Staging overtakes Lightening and Brightening.
“Many Realtors agree, especially in a buyer’s market, that sellers who make these recommended home improvements often get their homes sold faster and at higher prices,” stated Louis Cammarosano, General Manager at HomeGain. “We have customized our Home Sale Maximizer online home improvement tool to help identify and prioritize the projects that can increase the salability and selling price of your home.”
Rounding out the top 12 DIY home improvements are:
- 6. Update electrical ($400 cost / $1225 price increase / 310% ROI / 89% recommended)
- 7. Replacing or shampooing carpets ($300 cost / $1420 price increase / 586% ROI / 82% recommended)
- 8. Painting interior walls ($700 cost / $1770 price increase / 250% ROI / 94% recommended)
- 9. Repair damaged floors ($650 cost /$1600 price increase / 250% ROI / 91% recommended)
- 10. Update kitchen ($1200 cost / $2850 price increase / 237% ROI / 69% recommended)
- 11. Paint outside of home ($900 cost / $1815 price increase / 200% ROI / 81% recommended)
- 12. Update bathroom/s ($830 cost / $1430 price increase / 172% ROI / 70% recommended)
Try the Home Sale Maximizer Tool below:
Get the Home Sale Maximizer widget for your website by clicking here.
In comparison to the 2007 survey results, the top five home improvements were the same, except that Lighten and Brighten and Stage home for sale were flipped for second and third top home projects.
The home improvements with the highest price increases to a home’s resale value is Updating the Kitchen ($2,850 price increase), followed by Painting the Outside of the Home ($1,815 price increase) and Home Staging ($1,780 price increase).
Home Staging is the second most valuable home improvement project to a seller when it comes to selling a home by ROI and third most valuable by price increase, according to surveyed Realtors. See additional analysis on Home Staging. Check the HomeGain Real Estate Blog regularly for updates.
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