Preparing Your Home For Sale in Knoxville: Cost vs Value

Preparing your home for sale in Knoxville can be a huge factor in ultimately getting it sold.  That is the reason I have a professional home stager as part of my team.  Homes need to look their best when they are going on the market, and home staging can set them apart.  Oftentimes there is more to staging than just “dressing a house up” with accessories or decluttering.  Sometimes larger updates need to be completed.  Recently the “Cost vs. Value” report for 2015 was released.  This report comes out every year and provides us with information regarding what remodeling projects have the best return.  When preparing your home for sale in Knoxville, be sure to keep this report in mind. Here is a summary of this year’s findings:

• The greatest return on investment comes from simple, lower cost projects.  For example, the highest payback comes from the least expensive remodeling project on the list, which is a front door replacement. This project returned 101.8% on average nationally.
• Other projects that were slated to recoup 100% of the cost in some areas were: midrange and upscale garage door replacement, midrange wood window replacement, and a minor kitchen remodel.
• It appears that the greatest payback comes from projects that are obvious to buyers both in person and online in listing pictures.  Front door, garage doors, siding (adding manufactured stone veneer showed a payback of 92.2% nationally).
• The only true remodeling job (not just a simple replacement) making it into the Top 10 was the minor kitchen remodel.  The minor kitchen remodel showed a payback nationally of 79.3% with an average cost of $19,226.
• The region in which Knoxville falls (East South Central Region) came in 2nd behind the Pacific Region for remodeling payback, with 2 projects expected to top over 100% payback (the Pacific Region had 6).

Before you start preparing your home for sale in Knoxville and tackling some of these projects, be sure to consult your Knoxville real estate agent for advice.  Many of the factors stated above vary from region to region, within different price ranges, different neighborhoods, and even from house to house.  Use the Cost vs. Value 2015 Report as a starting point, but contact me, Troy Stavros with Gables & Gates, Realtors® to discuss your best course of action in preparing your home for sale in Knoxville.