Some home updates provide a higher return on resale.
Famed 1930s actor Will Rogers once said, “you never get a second chance to make a first impression,” and that timeless quote could not have been more accurate for homes on sale. Needless to say, appearances are important and it should be considered when home sellers are thinking about ways to increase their home’s worth. But for homeowners who are unsure about what updates to prioritize, J.Christopher Real Estate Group has outlined several home improvements that are known for providing the best value.
“Curb appeal is usually the first thing buyers will notice when arriving for a house tour. By the time buyers walk to the door they already know whether it is a home they can envision living in,” said Jarrod C. Lewis, owner of J.Christopher Real Estate Group.
Several studies have confirmed that improving the landscape around your home either provides a dollar for dollar return or exceeds what homeowners invested. Other improvements can offer a nearly 1:1 return, but those improvements may not be the ones homeowners are expecting.
Here is a list of home improvements that provide the best value at resale.
Planting trees and plants
The National Garden Association found that homeowners could see their home value increase by 7 to 19 percent if their landscape featured a mature tree in a well-maintained yard. A separate study from Clemson University found that homeowners received 100 percent of their investment or more if they paid money towards landscaping.
Replacing the garage door
A 2018 Cost vs. Value Report by Remodeling magazine found that homeowners could expect to see a 98.3 percent return at resale if they replaced the garage door.
Pruning and maintaining your landscape
According to a survey of 2,000 realtors, researchers found that an investment of $400 to $500 can provide a return multiplied by four.
Consider the siding, add a deck
The same Remodeling report found that homeowners recouped 97.1 percent and 82.8 percent of costs associated with installing manufactured stone veneer siding and adding a deck, respectively.
Minor updates go a long way
Updating floors can provide a return value of up to $1,400. Other easy updates include repainting chipped paint and sprucing up bathrooms by applying fresh caulk and removing grout.
Make sure everything is in working order
While replacing the boiler won’t provide the return homeowners would hope for, having a dysfunctional heating system can definitely halt a sale. This applies to any essential functions that should be operational such having running water and electricity.
Before you invest in big updates that may not provide the return you were expecting, consider the projects listed above. For assistance in selling your home quickly and efficiently, speak with a J.Christopher Real Estate agent today at 401-830-6906.