How to Spend $1000 for the Best ROI

You have $1,000 to spend and you’re hoping for the best ROI. What do you do? Our panel of RE/MAX Influencers from across Canada weigh in with their advice about how this relatively small investment can pay off resale.

Clean it up!

The most popular answer was to hire a professional cleaner to make appliances, doors and windows squeaky-clean. Also consider deep-cleaning the carpets, steaming the tile and decluttering the home.

When cleaning, don’t forget about outside as well! First impressions are lasting impressions, so make sure your house looks as appealing on the outside as it does on the inside.

TIP: Clean the house thoroughly inside and outside, and buy the brightest bulbs!

Fix what needs fixing

You may want to consider using $1,000 to fix things that are broken in your house, such as cupboards, doors or countertops. You can also take on small projects that will improve your home, such as updating light fixtures, replacing doorknobs and cabinet hardware, changing old window coverings or updating kitchen/bathroom backsplashes.

“I would recommend assessing what is most worn and giving attention to that. For instance, if the counters are in poor condition, perhaps a new countertop and hardware would improve the kitchen immensely. If there are flooring issues, a good clean, having carpets stretched, and even replacing some small areas would be beneficial.”

Stage right

Wall décor, area rugs, door mats, flowers for the front porch and fresh towels in the bathroom.

For a relatively low cost, there are many staging opportunities that will freshen up your home.

“A staging consultation could go a long way. Additionally, the consultant may make recommendations that require adding some pieces that may make a huge impact on potential buyers.”

Each situation is unique

Although RE/MAX associates had some suggestions on how $1,000 can be spent to give you the best ROI, it’s important to remember that each situation is unique. Your listing agent will assess your home, point out the biggest shortfalls compared with other nearby homes on the market, and make recommendations on how to boost your home’s value under current market conditions.