A home is the largest investment most people will make in their lifetime, so when it comes time to sell, homeowners often wonder what they can do to get the most return on their investment. Many have the misconception that remodeling is the way to go, but that isn’t always the case. Rather than going all-in on upgrading your home, you should know which home improvements are worth it, and which ones aren’t.
We’ve sifted through the research and come up with a quick list of five home improvements that’ll help buyers fall in love with your home when it comes time to sell.
1. Add a little curb appeal
Curb appeal is critical. As the name suggests, it’s the first thing buyers see when pulling up to the front of any home so it needs to be in nearly pristine condition. Start with the garage door for the most immediate return. According to Remodeling Magazine’s 2018 Cost vs. Value report and Money.com, the cost of updating your worn builder-grade garage door with an upscale steel model is about $3,470, and it’ll boost your home’s value by 98.3 percent of the installation price, which means you’ll lose about $60 when it’s all said and done.
Landscaping can also go along way for a minimal upfront investment. Six rounds of fertilizer and weed control will set you back about $330, but when it comes time to sell, you’ll see an ROI of about $1,000 according to a survey by the National Association of Realtors.
Other improvements you can easily make to your curb appeal include:
- Pressure wash the exterior
- Liven up your front door with a fresh coat of paint
- Replace hardware such as doorknobs and knockers
- Install updated house numbers
- Make your walkways pop with new greenery or flowers
- Plant a succulent garden
- Update your porch lights
- Add a little charm with window flower boxes
- Stage your porch
2. Install hardwood floors
Installing or upgrading hardwood floors is pretty failsafe as most buyers love it. Ninety-nine percent of real estate agents agree that homes with hardwood floors are easier to sell, and 90 percent of agents say that they sell for a higher sale price, according to the National Wood Flooring Association. Similarly, research from the National Association of Realtors shows that 54 percent of homebuyers are willing to shell out extra cash for homes with hardwood.
As for your return on investment, NAR’s 2017 Remodeling Impact Report projects that homes that already have hardwood floors will likely see 100 percent return. On the flip side, installing hardwood flooring pays off almost as well with a 91 percent return on investment. It can cost about $5,500 to install, and it’s projected to add about $5,000 to the home value. These estimates may vary depending on the type of flooring you install.
3. Upgrade your kitchen
According to the National Association of Realtors, real estate agents believe that complete kitchen renovations, kitchen upgrades, and bathroom renovations will add the most resale value to a home (in that order). However, complete kitchen renovations can be costly and unnecessary. In fact, kitchen remodels have some of the worst return on investment stats. Remodeling Magazine’s 2017 Cost Vs. Value report found that a mid-range kitchen remodel cost exceeds its resale value by more than $21,000, and that number more than doubles in an upscale remodel. Rather than spend a ton of cash and weeks (or months) on renovating, put a little elbow grease and a small budget into it.
Instead of doing a full renovation, focus on these smaller updates:
- Organize your pantry
- Use a little Murphy Oil Soap and hot water on all of your cabinets
- Polish cabinets with Howard Feed-In-Wax
- Tighten all hinges
- Clean grout and tiles
- Shine your sinks and hardware until you can see your face in it
- Deep clean your stove
- Give your kitchen a fresh coat of neutral paint
- Update lighting fixtures, and replace light bulbs
- Spring for a new cabinet and door hardware
- Make your countertops look new
- Upgrade your appliances
4. Go green
Today’s younger generations are embracing eco-friendly living, and millennials are leading the pack. According to the National Association of Realtors’ 2018 Home Buyer and Seller Generational Trends Report, millennials make up the largest segment of buyers, holding strong at 34 percent of all buyers.
When it comes to attracting buyers who are willing to pay top dollar, going green makes sense. A Nielson study found that, of more than 30,000 millennials surveyed,66 percent are willing to shell out more cash for conservation-conscious, sustainable products. Depending on where you live, consider installing solar panels, wind turbines, and eco-friendly water systems.
No matter where you live, attic insulation replacement and weather stripping are safe bets. Attic insulation replacement was a top home improvement upgrade last year, and homeowners saw a 107.7 percent return on the investment. Weather stripping, a fairly inexpensive DIY project, costs, on average, about $168 nationally.
5. Create a summer retreat
Homes with pools can fetch a higher selling price if done properly. There are in-ground pools and above-ground pools. To truly add value, you’d want to go with an in-ground pool. It’s a permanent investment that costs more upfront, but above-ground pools don’t really add anything to a home other than a nice personal oasis from hot weather.
Pools cost about $1,000 on average to maintain between the seasonal openings and closings, necessary upkeep and utility bills, according to Houselogic.com and financial consultant Dave Ramsey’s website. Some buyers might not be up for that cost. However, pools can help sell a home especially when you live in a higher-end neighborhood where everyone has pools and in warmer climates like Florida, Arizona or Hawaii.
Ramsey wrote that a well-marketed in-ground pool can boost a home’s value as much as 7 percent, but he stresses the importance of making sure the style of the pool matches the house and surrounding property. Be sure that any pool doesn’t completely consume the outdoor space. Pools that make sense locationally and complement the property are the best. If the pool is just an expensive eyesore, it’s probably better to remove it.
With these upgrades, your home will surely see a higher price tag when you go to sell because, as the numbers show, buyers swoon for an outdoor retreat, a like-new kitchen, classic hardwood flooring, and green upgrades.
Our guest author is Sarah Stilo, the Content Marketing Coordinator for HomeLight, which helps pair homebuyers with agents. They can be found at HomeLight.Com. This post originally appeared on the Windermere.com Blog.
None of us want to admit it, but Winter is Coming. The new season of Game of Thrones might not be until 2019, but your home will need preparation before then. As the days shorten, you can mitigate many mid-winter headaches with some preemptive prep. Proper weatherizing can help protect your investment from preventable damage, save money on energy costs, and, most importantly, keep your home safe and warm for you and your loved ones throughout the winter season. Here is a useful checklist to manage your weatherization project. Setting aside some time on a couple Sundays should be more than enough to knock this out:
Getting started: Check your toolbox to make sure you have all the materials you need for home maintenance in one place. This NY Times article provides a good list of the tools you’ll really need to maintain your home. After your toolbox is put together, you can confidently begin the maintenance on your home.
Insulation: Insulating a home can reduce your energy bill by up to 50%. For the best results, your home should be properly insulated from the ceilings to the basement. By starting in your attic and progressively adding insulation to other areas of your home over time, you will avoid spending a large sum of money up-front.
Cracks & Leaks: Do a run-through of your entire house for cracks and leaks, from your roof to your baseboards. Winter weather is unpredictable. Whether your area gets rain, wind or snow, cracks in your house can lead to cold drafts or leaks that cause water damage. Depending on your house type, most cracks can be easily filled with supplies from your local hardware store in a do-it-yourself fashion. Use caulk to seal any cracks in the permanent building materials.
Windows & Doors: Another common place for heat leakage is in your windows and exterior doorways. Make sure seals are tight and no leaks exist. If you have storm windows, make sure you put them on before the cold season begins. Don’t underestimate the difference some weatherstrips and a door sweep can provide in preventing drafts and keeping the heat in.
Rain Gutters: Clean your rain gutters of any debris. In colder climates, buildup will cause gutters to freeze with ice, crack and then leak. Once you have removed the residue from the drains, test them by running hose water to make sure cracks and leaks have not already formed. Even in warmer locales, the buildup can put undue stress on your roof and home.
Pipes: Pipes are a number one risk in winter climates. A burst pipe can become a winter disaster in a matter of seconds. Remember to turn off your exterior water source and take in your hose. Internally, wrapping your pipes is a recommended precaution to take.
Heating System: What’s one thing gas fireplaces, wood burning stoves, and central air heating systems all have in common? They all need to be cleaned and maintained. Annual checks of are vital in avoiding dangers such as house fires. If you use an old-fashioned wood stove, make sure there are no leaks and that all soot build up or nests are removed. If a furnace is what you have, remember to change the filters as recommended or clean out your reusable filters.
Fireplace & Wood burning stoves: Make sure to have chimneys and air vents cleaned early in the season if you are planning on warming your home with a wood-burning source. When your fireplace is not in use make sure to close the damper, some resources estimate an open damper can increase energy consumption by as much as 30%.
Outside: As we mentioned before, make sure you bring your patio furniture inside (or cover) for the winter- but don’t forget other, smaller items such as your tools, including a hose and small planting pot. Clear out any piles around the side of your house, checking for cracks as you go so to avoid providing shelter for unwelcome guests over the cold season. If your property has large trees check for loose branches and call someone to trim back any items that may fall in your yard, on your roof or even damage a window.
Emergency Kit: Lastly, make sure your emergency kit is up-to-date with provisions, batteries, fresh water, food for animals, entertainment for kids, etc- especially if you live in an area prone to power outages.
This post originally appeared on the Windermere.com blog.
It’s sometimes said that the limitations of a house are what help make it a home. For many, however, it is a point of pride to accept only the finest in their new residence. How can you find the balance between cultivating a lived-in home with personality and quirks versus a house with cutting-edge amenities that improve quality of life? To get to the bottom of that, we gathered a list six keys to consider when selecting and developing the home of your dreams:
Surprisingly, one of the biggest factors in choosing a new home isn’t the property itself, but rather the surrounding neighborhood. While new homes occasionally spring up in established communities, most are built in new developments. The settings are quite different, each with their own unique benefits.
Older neighborhoods often feature tree-lined streets; larger property lots; a wide array of architectural styles; easy walking access to mass transportation, restaurants and local shops; and more established relationships among neighbors.
New developments are better known for wider streets and quiet cul-de-sacs; controlled development; fewer aboveground utilities; more parks; and often newer public facilities (schools, libraries, pools, etc.). There are typically more children in newer communities, as well.
Consider your daily work commute, too. While not always true, older neighborhoods tend to be closer to major employment centers, mass transportation and multiple car routes (neighborhood arterials, highways and freeways).
Design and layout
If you like Victorian, Craftsman or Cape Cod style homes, it used to be that you would have to buy an older home from the appropriate era. But with new-home builders now offering modern takes on those classic designs, that’s no longer the case. There are even modern log homes available.
Have you given much thought to your floor plans? If you have your heart set on a family room, an entertainment kitchen, a home office and walk-in closets, you’ll likely want to buy a newer home—or plan to do some heavy remodeling of an older home. Unless they’ve already been remodeled, most older homes feature more basic layouts.
If you have a specific home-décor style in mind, you’ll want to take that into consideration, as well. Professional designers say it’s best if the style and era of your furnishings match the style and era of your house. But if you are willing to adapt, then the options are wide open.
Materials and craftsmanship
Homes built before material and labor costs spiked in the late 1950s have a reputation for higher-grade lumber and old-world craftsmanship (hardwood floors, old-growth timber supports, ornate siding, artistic molding, etc.).
However, newer homes have the benefit of modern materials and more advanced building codes (copper or polyurethane plumbing, better insulation, double-pane windows, modern electrical wiring, earthquake/ windstorm supports, etc.).
The condition of a home for sale is always a top consideration for any buyer. However, age is a factor here, as well. For example, if the exterior of a newer home needs repainting, it’s a relatively easy task to determine the cost. But if it’s a home built before the 1970s, you have to also consider the fact that the underlying paint is most likely lead0based, and that the wood siding may have rot or other structural issues that need to be addressed before it can be recoated.
On the flip side, the mechanicals in older homes (lights, heating systems, sump pump, etc.) tend to be better built and last longer.
One of the great things about older homes is that they usually come with mature trees and bushes already in place. Buyers of new homes may have to wait years for ornamental trees, fruit trees, roses, ferns, cacti and other long-term vegetation to fill in a yard, create shade, provide privacy, and develop into an inviting outdoor space. However, maybe you’re one of the many homeowners who prefer the wide-open, low-maintenance benefits of a lightly planted yard.
Like it or not, most of us are extremely dependent on our cars for daily transportation. And here again, you’ll find a big difference between newer and older homes. Newer homes almost always feature ample off-street parking: usually a two-car garage and a wide driveway. An older home, depending on just how old it is, may not offer a garage—and if it does, there’s often only enough space for one car. For people who don’t feel comfortable leaving their car on the street, this alone can be a determining factor.
Finalizing your decision
While the differences between older and newer homes are striking, there’s certainly no right or wrong answer. It is a matter of personal taste, and what is available in your desired area. To quickly determine which direction your taste trends, use the information above to make va list of your most desired features, then categorize those according to the type of house in which they’re most likely to be found. The results can often be telling.
This post was originally on the Windermere Blog.
|Outdoor living during the spring and summer months is extremely popular. Months of cold, wet winters are followed by glorious spring colors and warm summer days of vivid blue skies. In this post, we thought that now would be the best time to share some pretty garden trends for 2018.|
|Leisure time should be just that: relaxing and rejuvenating. So why labor relentlessly to create and maintain a perfect landscape? Wabi-sabi, is the Japanese art of accepting transience and imperfect beauty. Relax and appreciate nature as it is, with humble imperfections, weeds and all. Recognize (and tell others) that dandelions and clover in untreated lawns are not blights. They are status symbols for ecological horticulture. Consider natural grasses and groundcovers as low-maintenance substitutes for sod. Opt for perennials instead of annuals, let flowers go to seed and give nature license to evolve on her own.|
Reclaiming Small Outside Spaces
|For many of us these days, space is at a premium and with house prices continually on the rise, more and more people are living in apartment blocks or tiny lots. Garden designers are determined to make even the smallest of spaces useful and attractive, and manufacturers have taken notice. Look for a better choice in planters that slot onto balcony rails. New models will have coverings for protecting plants from cold temperatures so that you can even grow seeds and vegetables on your balcony alongside your flowers.
Self-watering wall planter systems have been improved for 2018 and the hanging macramé plant holder is having a bit of a revival. Add a small patio heater and you have an outside space you can enjoy all year round with minimal effort.
|Pantone’s Ultra Violet is the color of the year. Maybe that’s why you find purple flowers in this year’s plant varieties and garden design. It’s easy to incorporate this color in the garden as there are many flowers and shrubs with this beautiful color. However, there are also several edible purple plants that you can grow. Purple vegetables are not only interesting and pretty, their unique color denote anthocyanins which are very beneficial to your health.|
|This is a style that keeps popping up time and again. However, 2018 has taken the re-wilding trend up another notch. It is still all about working with nature, growing wildflowers and supporting our pollinating insects. Re-wilding means adjusting plant selections to better support local wildlife and growing both seed-producing and berry-bearing plants. However, now it is also about using ‘green’ gardening products, natural solutions to bug and slug killers instead of chemicals and insecticides and using peat-free products.|
|Outdoor entertaining and kitchen areas are tipped to be a key trend for Spring/Summer 2018. We are not talking about a little nook corner just off the kitchen. Alfresco dining spaces are being pushed out into the garden itself and made into a major feature. These dedicated outdoor dining areas are surrounded by in-ground and container plants for that lush feeling. Special flooring, comfy furniture and mood lighting turn it into a little haven. Complete the trend with a sunken fire pit, barbecue or pizza oven and you might never want to leave.|
Lighting The Way
|Adding lighting to your garden is not a new thing. However, in this age of renewable energy, garden lighting companies are turning away from the more traditional lighting solutions we have seen in the past. The advances in solar energy capture, means that we can light up our gardens in a variety of fun, affordable and better ways. No more changing batteries or wiring up the garden with electricity.
The wide range of lighting methods allows you to create whatever ambience you want. Simple stand-alone lights can mark pathways, either discreetly embedded into the path edges or standing loud and proud along the side. Multi-colored fairy lights can be tangled among the overhead branches of a tree creating dazzling shapes and textures. Solar Mason jars can be hung from above or used as table lighting. Festoon lights can create an ambient glow around any outdoor space creating romantic nooks.
This post originally appeared on the Windermere.com blog.