A friend of mine is in the car business at a pretty high level. We were discussing the used car side and the pros and cons of trade ins. He shared with me the process of evaluating a car for its trade in value and the key things like age, mileage, tires and general condition. I asked him about what costs they put into readying it for resale. He mentioned that some customers would get it nice and shiny and all detailed and perhaps new tires and what have you in order to get the most value out of their trade. Perhaps even several hundred dollars more. However, he points out, that there is likely less than a 100% return on their investment. The dealer cost on those items and cleaning is significantly lower, therefore they give it much less value than the car owners’ investment. You may guess where I am going with this and I commend you.
It has long been a challenge in the home selling business to get an owner to spend money to fix up their home. The same folks that would spend hundreds of dollars to get the highest trade in value on their car, perhaps hundreds of dollars more, are reluctant to spend the same hundreds of dollars on their house to get perhaps thousands back. Landscaping and curb appeal (new tires), a fresh coat of paint inside or out, a deep clean by a pro (detailed) can net a very nice ROI. The things that increase value like square footage, bedrooms and baths are different than things that increase marketability. New tires, good paint, clean interior make it more likely to sell at full value relative to the same model with dull paint, dirty gutters and little or no curb appeal.
Invest wisely friends.