The truth about home improvements.

HONOLULU ADVERTISER January 21, 2007

BY LISA SCONTRAS

Custom Publishing Group

Advice for sellers as to what works and what doesn't.

Spending a lot of money on the wrong improvements may make your home less attractive to potential buyers.

“It’s a very common misconception,” says Stephanie Chan, a top listor at Prudential Locations LLC in 2005. “It’s important to keep in mind that all upgrades are not created equal.”

Common mistakes include over-improving your home or selecting styles or colors that may not appeal to buyers. Chan advises against do-it-yourself projects which may showcase expensive materials but are plagued by poor workmanship. Inappropriate upgrades can not only be a waste of money, she says, but sometimes they end up being more of a detraction.

 “I had a client who added a large shiny black Jacuzzi tub in his small studio apartment,” Chan says. “While the Jacuzzi would have been beautiful in a larger home, it just looked awkwardly misplaced in the small studio.”

Mike Badovinac, a fellow Prudential Locations agent, offers this low-investment-for-a-high-return advice.

“When you look at cost versus value on major remodeling projects, you’re looking at an average return of somewhere between 70 and 85 percent,” says Badovinac summarizing national figures from a 2006 report published in Remodeling magazine. “At the very best it’s around 100 percent. So you have to wonder if it’s really worth doing just to at best break even?”

He suggests ways to make your home shine without spending too much money.

“To me it’s not necessary to throw a lot of money into remodeling in this market — but there are a few real simple things you can do that will add value to your home,” he adds.

First, hire someone to pressure wash the entire house — at a cost of approximately $200. Next, he recommends really making the exterior sparkle by using a solid paint stain on all the concrete areas — including driveways, sidewalks, lanai and hollow- tile walls — at a cost of approximately $1,200 to $2,000 depending on the size of the area. If you have a garage, he advises finishing it with a floor epoxy — at a cost of approximately $200.

“For around $2,500 you can do all three and more than likely increase the price more than $2,500,” he says. You don’t realize how distracting all the stains can be. These simple clean-up items will keep buyers focused on the positive aspects of the house.”

Landscaping is also a great way to increase curb appeal. He remembers one client who bought 100 marigolds to make the home’s entry look more inviting.

“They spent $2.45 for each six pack and planted them ... in a couple of weeks they bloomed and the place looked awesome,” recalls Badovinac.

Chan believes a seller should also pay particular attention to the kitchen and baths.

“In any home, the quality and appearance of the kitchen and bathroom are central,” she says. “They are both often-used rooms that wear down quickly, so special attention should be given to them to keep them constantly fresh and appealing.”

Badovinac gives his clients additional ways to spruce up a home’s interior inexpensively. “If you put a fresh coat of paint and new carpet or laminate, I can almost guarantee you’ll get your money back,” he says. “You can reglaze tubs and sinks, buy some nice throw rugs, new towels, upgrade the towel racks, and if you don’t need to change the carpet or the flooring just get them cleaned or waxed.”

The intent is to make your home stand out from others a buyer may look at that day.

“It’s amazing what you can do for very little money to make the house look beautiful,” says Badovinac. “It’s all about creating that WOW factor.”

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