You only get one crack at making a good first impression, so it’s worth giving it your best shot if you’re aiming to increase your home value and put it up for sale.
Ways to increase your home value need not be very expensive. Some well-placed housing improvements can give your home the aura of extra appeal that will clinch the deal.
Strategic home upgrades together with some professional home staging advice are wise ways to increase the value of your home. And you can do it all in time to catch the traditional wave of spring real estate sales that home buyers are waiting for.
Let’s have a closer look at those improvements, shall we?
Perceived Value of Housing Improvements
When deciding what home improvements you’re going to spend your money on there are two questions to ask:
- Is this improvement going to increase the value of the home to me?
- Is this improvement going to increase the value of the home to others if I decide to sell?
The 2020 Cost vs Value Report site compares the average costs for 22 different remodeling projects with the value those projects retain at the point of resale. The data are available at the national, regional and city levels. Remember that these are current trends and trends, like everything, can change.
Top ranking on that national list is manufactured stone veneer, with a cost-versus-value rating of 95.6%. This means that on resale, you would recoup 95.6% of what you spent on that home upgrade.
Manufactured Stone Veneer
Adhered manufactured stone veneer (AMSV) is an exterior home improvement that gives you a strong return on your investment, as mentioned above. Despite having the word stone in its name, it is not stone, but a lightweight composite molded material.
It is made by wet casting a blend of aggregates and cementitious materials. Pigments and other materials can be added so that it looks like natural stone. Boost the curb appeal of your home by transforming the appearance of even part of your exterior.
If AMSV is not something you want to pursue, there is a more economical path to take. Fiber-cement or vinyl siding does not rank high on the ROI (return on investment) scale, but these are good replacement options. Remember that residential inspections usually involve a detailed inspection of the foundations and siding, so if yours is new, then buyers will regard that fact favorably.
Replace Your Garage Door
Another exterior improvement to focus on is the replacement of your garage door. You would be surprised at how popular this remodeling project is. These days, the most durable materials include wood composites, steel and aluminum. Insulating your garage door at the same time can save energy costs and take a little more of the edge off the winter cold inside your home too.
If you like wooden aesthetics, but want to benefit from a weather-resistant material, consider fiberglass or wood composite as the main material for your new garage door. If your garage has a covered entrance to the kitchen, also think about revamping the garage floor in the color and pattern of your choice using PU or epoxy resin flooring.
Pointing out to a potential buyer how easy it would be to convert the garage into an extra room if need be could be a deal maker. If you’re not selling, you’ll love this improvement more with every passing day.
A Facelift for the Kitchen
Also, known as a minor, or mid-range kitchen remodel, this kind of project can make an enormous difference to the atmosphere in a home with relatively little outlay. Replacing the cabinet and drawer fronts, and opting for more modern countertops will give the room a refreshed look.
Additional options include replacing the sink and faucet. Purchase an energy-efficient refrigerator, and/or cooktop or oven range. If you have a breakfast nook, new seating might be in order.
This is one area that could lend itself well to home staging, particularly if that breakfast nook changes easily into a romantic corner for drinks and snacks in the evening, and features some interesting design elements.
Remember that we are not talking of a completely new kitchen. Perhaps all you need is a fresh coat of paint on the walls. Taking a critical look at this important room in the life of a family and selecting affordable improvements can pay dividends when it comes time to sell your home.
Master Suite Addition
While a mid-range master suite addition only has a cost-versus-value rating of 58.5% whereas an upscale version of that comes in at 51.6%, we thought we would highlight paying attention to the main bedroom suite since this is where many of us spend the most time when at home.
Whether you have a wood-frame home or brick-and-mortar construction, a new master suite with a seating area or separate lounge in addition to a large private bathroom is a valuable addition to any home whether for personal reasons or to increase the resale value of your home.
If you add a wooden deck (another top value-adder) outside bedroom sliding doors, you might well be setting the scene for the perfect remote home staging. Of course, you might already have a tasteful living space that exudes simple elegance or has a relaxed charm. Remote home staging is the online version of achieving the best possible visuals so that you can showcase aspects of your home with the most persuasive selling power.
Statistics and Clean and Tidy
Investing in projects and housing improvements will involve large amounts of money. Before you start, consult the 2020 Cost Vs Value Report for your area.
The data for your location might differ from the national statistics that we have referred to in this article. Do not simply assume you’ll get a decent return on your investment: do your research.
Home improvements do increase the value of your home, it’s true. The icing on the cake, though, is a well-maintained (and improved) home that is clean and tidy inside and out.
Contact us at Stageful if you would like to work on the visuals of your home that do indeed give people an amazing first impression that lingers. Let’s work on it!