Selling Points: Renovations That Boost the Value of Your Home
The future of real estate is promising. Appraisers are optimistic about the market in the upcoming years as a survey taken by the Appraisal Institute found. Eighty-four percent of residential appraisers said their local real estate market looks stronger. Thirty-two percent anticipate higher demand for their services over the next year to two years.
In that case, homeowners are also optimistic and have a higher chance of selling by making exterior improvements and updating curb appeal. Fixing the roof and enhancing aesthetics of the yard can help make a buyer feel more confident that the home is a good fit.
First impressions happen within the first 7-10 seconds of arriving at a house. To add value to your home, invest in updated siding, paint and landscaping.
Siding sets the tone for the inside. As HGTV’s number one pick for home improvements, siding should be spruced up so your house isn’t considered a fixer-upper. Rot and termites take a toll on traditional cedar and pine siding. Factor in your climate and budget when choosing a new material. Vinyl received the top rating from Consumer Reports.
Choose a paint palette wisely if your homeowners association doesn’t specify a color. Stick with neutrals. Make your house stand out by grooming the lawn and planting vibrant flowers. Living in the bright orange house on the street isn’t for everyone.
Landscaping creates character and charm. Keep the yard and bushes maintained. Enhance your landscape with lush native plants. Leave a lasting impression and make your house stand out on the block by installing a water feature, planting a tree and adding pops of organic color. If you can’t stay on top of the upkeep, hire a lawn service.
A healthy roof is a telltale sign the homeowner takes good care of his house and that it has longevity. A shabby roof could be an indication of bigger issues inside and potential expensive renovations. Roof repair is a must-do when selling. Hire a roofer to replace missing shingles and mount hanging gutters. Clean off any moss.
New windows will also attract buyers, control outside noise and save energy. Single pane windows decrease the value of your home and scare people off. Invest in energy-efficient windows because it will save the buyer money in the end with lower electricity bills and tax rebates — both quality selling points.
Less is More
Don’t overdo it with extensive landscape designs or ultra high-end upgrades that aren’t everyone’s taste. Avoid a pool installation; it will limit the market and doesn’t necessarily raise the value of your home. Potential homebuyers might see it as a burden instead of a blessing. Alternatively, a hot tub is much easier to care for than a pool. If you already have one, liven it up with hot tub cover products to show buyers it’s been properly cared for and in top-notch condition.
Keep in mind the following upgrades to avoid:
- Converting the yard into a basketball court
- Adding a stairway chair lift
- Integrating a home theater
- Springing for a urinal
- Building a barn