Whether you’re prepping your house to go on
the market or looking for ways to maximize its long-term appreciation, these
nine home improvement projects are great ways to add function, beauty, and real
value to your home.
The best part is, once you’ve secured the
materials, most of these renovations can be completed over the course of a
weekend. And they don’t require a lot of specialized skills or experience. So
grab your toolbox, then get ready to boost your home’s appeal AND investment
potential!
1.
Spruce Up Your Landscaping
Landscaping improvements can increase a home’s
value by 10-12%.1 But which outdoor features do buyers care about
most? According to a survey of Realtors, a healthy lawn is at the top of their
list. If your lawn is lacking, overseeding or laying new sod can be a
worthwhile investment—with an expected return of 417% and 143% respectively.1
Planting flowers is another great way to
enhance your home’s curb appeal. And if you choose a perennial variety, your
blooms should return year after year. For an even longer-term impact, consider
planting a tree. According to the Council of Tree and Landscape Appraisers, a
mature tree can add up to $10,000 to the value of your home.2
2.
Clean The Exterior
When it comes to making your house shine, a
sparkling facade can be just as important as a clean interior. Real estate
professionals estimate that washing the outside of a house can add as much as
$15,000 to its sales price.3
A rented pressure washer from your local home
improvement store can help you remove built-up dirt and grime from your home’s
exterior, walkway, and driveway. Just be sure to read the instructions
carefully—and only use it on surfaces that can withstand the intensity. When in
doubt, a scrub brush and bucket of sudsy water will often do the trick.
3. Add
A Fresh Coat Of Paint
New paint can have a big impact on both the
appearance and value of a property. In fact, it’s one of the most effective
ways to revitalize a home’s exterior, update its interior, and make it appear
larger and brighter. The best part? Painting is relatively easy and
inexpensive!
To get the maximum return at resale, stick
with a modern but neutral color palette that will appeal to a broad range of
buyers. According to a recent survey of home design experts, cool neutrals are
a safe bet when it comes to interior paint. And respondents chose white and
gray as the best exterior paint colors to use when selling a home.4
However, it’s important to consider a property’s architecture, existing
fixtures, and regional design preferences, as well.
4.
Install Smart Home Technology
In a recent survey, 78% of real estate
professionals said their buyer clients were willing to pay more for a home with
smart technology features.5 The most requested smart devices?
Thermostats (77%), smoke detectors (75%), home security cameras (66%), and
locks (63%).6
The good news is, many of these gadgets are
fairly easy to install. And some of them, including smart thermostats and light
bulbs, will pay for themselves over time by making your home more energy
efficient. In fact, many manufacturers report that smart thermostats can cut
back on heating and cooling costs by 10-20%.7
If you already own a smart speaker, like
Amazon Alexa or Google Home, choose devices that will pair with your existing
technology. This will enable you to create a truly integrated (and in many
cases voice-activated) smart home experience.
5.
Modernize Your Window Treatments
Smart—or motorized—blinds are also growing in
popularity, and several manufacturers make models you can order and install on
your own. But they’re not the only way to modernize your window treatments.
If you have old aluminum blinds, consider
replacing them with plantation shutters, which are energy efficient, durable,
and have strong buyer appeal.8 Roman and roller shades are another
stylish alternative, and they come in a variety of colors and fabrics, which
you can personalize to meet your design and privacy preferences.
Fortunately, upgrading your blinds has gotten
easier and less expensive in recent years. There are a number of retailers that
specialize in affordable window coverings that are simple to measure and hang
yourself.
6.
Replace Outdated Fixtures
Drastically transform the look and feel of
your home by swapping out dingy and dated fixtures for contemporary
alternatives. Start by assessing your current light fixtures, faucets, cabinet
hardware, door knobs, and even switch plates. Then prioritize replacing those
that are particularly outdated or in highly-visible areas, such as your entryway
or kitchen.
Even if your home is fairly new, consider
trading your builder-grade fixtures for higher-end options to give it a more
upscale appearance. And forget the old rule about sticking to one metal tone
throughout your property. According to designers, mixing metal finishes can add
interest and character to a space.9
For more designer
insights and decor trends, contact me for a free copy of my recent report: “Top 5 Home Design Trends for a New Decade.”
7.
Upgrade Your Bathroom Mirror
A minor bathroom remodel offers one of the
best returns on investment, with a $1.71 increase in home value for every $1
you spend.10 We’ve already explored several improvements you can
make to your bathroom: new paint, fixtures, and hardware. Now complete the look
by upgrading your vanity’s mirror.
Before you purchase a new mirror, examine your
existing one to see how it is attached to the wall. Some vanity mirrors are
glued to the wall and difficult to remove without shattering the glass or
damaging the sheet rock behind it.11
If you prefer to keep your existing mirror,
you can paint the frame—or add one if it’s currently frameless. There are
several online retailers that will send you the frame components cut to your
specifications, which you can assemble and mount yourself. Much like a work of
art, your vanity mirror serves as a focal point for your bathroom, so let your
creativity shine through!
8.
Shampoo Your Carpet
Carpet is notorious for trapping dust, dirt,
and allergens. It’s one of the reasons that most buyers prefer hard surface
flooring.12 But if you love your carpet, or you’re not ready to
invest in an alternative, make an effort to keep it clean and odor-free.
To properly maintain your carpet, you should
vacuum it weekly. Experts also recommend a deep shampoo at least every two
years.13 Fortunately, this is a cheap and easy DIY project you can
knock out in about 20 minutes per room. According to Consumer Reports, you can
rent a machine and purchase cleaning fluid and supplies for around $90. With an
average return on your investment of 169%, it’s well worth the effort and
expense.14
9.
Customize Your Closet
Real estate professionals estimate that a
closet remodel can add $2500 to a home’s selling price. And while a
professional renovation can cost upwards of $6000, there are many high-quality
DIY closet systems you can customize and install yourself.15
Experts recommend taking a thorough inventory
of your wardrobe and accessories before you get started. Make sure
frequently-worn pieces are easy to reach, and store seasonal and seldom-used
items on high shelves. Place shoe racks near the closet entrance so they are
easy to access.16 A little planning can go a long way toward
building a closet that you (and your future buyers!) will love.
GET A
COMPLIMENTARY ANALYSIS OF YOUR PROJECT
I’ve been talking averages. But the truth
is, the actual impact of a home improvement project will vary depending on
your particular home and neighborhood. Before you get started, contact me to
schedule a free virtual consultation. I can help you determine which
upgrades will offer the greatest return on your effort and investment.
|
Sources:
2. National Association of
Realtors -
https://www.realtor.com/advice/home-improvement/landscape-renovations-that-pay-off/
https://www.realtor.com/advice/home-improvement/landscape-renovations-that-pay-off/
3. HouseLogic.com - https://www.houselogic.com/save-money-add-value/add-value-to-your-home/adding-curb-appeal-value-to-home/
5. T3 Sixty -
https://blog.coldwellbanker.com/wp-content/uploads/2018/01/CES2018-Smart-Homes-An-Emerging-Real-Estate-Opportunity.pdf
https://blog.coldwellbanker.com/wp-content/uploads/2018/01/CES2018-Smart-Homes-An-Emerging-Real-Estate-Opportunity.pdf
6. Consumer Reports -
https://www.consumerreports.org/smart-home/smart-home-tech-upgrades-to-help-sell-your-house/
https://www.consumerreports.org/smart-home/smart-home-tech-upgrades-to-help-sell-your-house/
7. American Council for Energy
Efficient Economy
https://www.aceee.org/sites/default/files/publications/researchreports/a1801.pdf
https://www.aceee.org/sites/default/files/publications/researchreports/a1801.pdf
15. National Association of
Realtors - https://www.nar.realtor/research-and-statistics/research-reports/remodeling-impact
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