When renovating a house, my biggest problem has always been striking a balance between perfectionism and practicality. My propensity is to want every aspect of a project to be as close to ideal as possible, an especially challenging undertaking with older housing stock. To make matters worse, I sometimes focus too much on the aspects of construction that are unseen, at times unnecessary, and therefore unappreciated by potential buyers. As a contractor, I naturally have a tendency to want to concentrate primarily on the things that relate to structural integrity. But as an investor, I have had to learn not to underestimate the power of curb appeal.

Value is in the Eye of the Beholder: The average homebuyer does not necessarily value the improvements that contractors find important. Don’t be too surprised if your buyer is not overly excited by your astute choices in sheeting and vapor barrier, or your wise selection of solid moulding instead of finger-joint, or that extra thick carpet padding . If you think you will use these to successfully justify your price point, you may be disappointed.

Image is Everything: The average homebuyer does value external appearance, and the perceived superiority of the home. A house may be superior structurally to every other house on the block, but if it does not appear that way, it may not be valued by the buyer. Curb appeal always seemed to me to be silly. Flowers, shrubs, plastic shutters — we contractors know these are all meaningless compared to the “important” things like wiring size, stud spacing, and plumbing vents. Yet, the visible portions of the property are often what makes or breaks the sale.

Find a Balance: Do what’s right, but don’t go overboard. Be careful not to focus all your time and capital solely on the unseen aspects of a project. Make a concerted effort to direct some energy into areas that buyers appreciate. That may mean mowing that raggedy lawn, trimming the overgrown bushes, and shining up grimy windows. Or maybe the driveway and sidewalks could do with a good power-washing, or re-paving if they’re cracked. Fresh paint can do wonders. Generally, take a survey of what may need to be repaired or replaced, such as mailboxes or door knockers. None of these fixes has to be particularly labor-intensive or expensive. But they can go a long way toward adding to the appeal of the property and increasing profit margin upon resale.

First impressions are important, and, when it comes to houses, curb appeal is the first impression. Of course you should focus on the structural integrity of the home, just don’t neglect what buyers will see. If they don’t like what they see on the outside, you’re not likely to get them inside. Putting yourself in the potential buyer’s shoes will give you a much needed perspective, one that will enable you to see through someone else’s eyes: the eye of the buyer.

Author Bio: Bob Kmosko has been a full time contractor /re-habber/ investor Cialis Jelly for over 25 years. His company, TK Homes, is focused on providing discounted wholesale properties to contractors and investors. If you are currently in the market for a wholesale property, or are considering purchasing one the in the future, log on to http://TKHomes.net and let us know what you need!

Category: Real Estate
Keywords: