It will come as no surprise that the best investment any homeowner can make before listing their home for sale is a call to Goodwill to pick up a load of unnecessary clutter followed by a nice coat of white paint and thorough cleaning of the house and garage. Beyond that however, I am often asked by homeowners not ready to sell, what improvements are wisest to make keeping in mind dollar return on dollar invested.

In a recent survey conducted throughout Los Angeles and Orange County, statistics showed a 115% return for a family room with an average cost of $28,293 to build. Other improvements yielding 100% or more were the addition of a master suite with an average cost of $40,699 yielding a 109% return; a minor kitchen remodel with an average cost of $9,438 yielding a 100% return; a bathroom addition with an average cost of$14,081 yielding just under a 100% return, and when added having direct access from the master bedroom, yielding just over 100% return.

Other minor improvements such as the refinishing of hardwood floors and landscaping also yield easily a 100% return.

Improvements that seem to add only a 50% return for each dollar spent are a swimming pool, tandem rooms without providing for a logical floorplan and non-permitted additions that may not have been fully built to code.

Before investing large sums of money, call a reputable real estate broker that specializes in your neighborhood.

Copyright© Ron Wynn 2000