Purchasing that first home will be one of the most important and expensive investments you’ll make in your life. Many homeowners fail to realize that their dream home is not just somewhere to lay their heads at night. You have an invested interest in ensuring that the value of your home grows over time.
Have you ever driven past neighborhoods and seen trash all over the yard or broken-down cars in the driveway? Perhaps you have seen unkempt yards with terrible landscaping ideas, broken blinds, peeling paint, or broken, worn-out, faded fences.
First Impressions
As a realtor, one of the things that I look for when prospecting neighborhoods for clients is yard maintenance and landscaping, as well as the home’s exterior. Nothing can show pride in a particular area more than seeing neighbors take the time to create pristinely manicured lawns with curb appeal because first impressions mean everything. Believe it or not, yards can determine the value of a neighborhood and the value of one’s property.
Did you know that certain trees add value to your home? Live Southern Oak, Pine, Japanese Maple, Japanese Blueberry, Crape Myrtles, Sabal Palm, and American Maple trees are found in the most upscale and exclusive neighborhoods. Your yard aesthetics can also extend to certain types of grasses that you choose to have, depending on the USDA Plant Hardiness Zones.
Add Value with the Kitchen
Your most valuable home improvement will come from that new dream kitchen. Because most families spend the majority of their time in the kitchen, it’s the most valuable room in their home, next to family rooms, bathrooms, and entertainment spaces.
As a Realtor, I look at hundreds of homes a year. You can expect to pay up to $15,000 to $30,000 in kitchen renovations. This cost includes new cabinets, countertops, re-wiring, structural changes, relocated plumbing, custom cabinetry, and top-of-the-line appliances. The best return on your investment is as simple as repainting cabinets and changing out your cabinet hardware with something simple and elegant. The best and newest trend tends to be incorporating your new kitchen with natural stones such as Granite countertops, which can give you an added value of 80 to 110%.
It can be pricy, but it’s worth it!
The second most expensive home improvement comes from that new bathroom which includes new fixtures, fittings, tile floors, and walls; structural changes; and relocated plumbing. High-end fixtures and materials can raise the cost. You can expect to pay $8,500 to $25,000 and up.
Replacing fixtures and adding a stand-alone shower with Marble tiles, Granite countertops, and vanities with storage will cost you a bit of money, but it will add more value to your home, about 80 to 115%. Adding a second bath can yield more than 100% resale value.
Set the Tone with Color
The most underestimated improvement when adding home value is paint color. Due to their role in affecting our emotional health, colors should uplift and inspire us all. Light colors can lift a dark and gloomy room. Neutral colors are always a good choice for kitchens and living rooms. Avoid using bright colors if you want to add value to your home. Light-blue colors are always a favorite with bedrooms and bathrooms. Grays, whites, greens, and blues are timeless, calming colors for living rooms and kitchens.
Repainting worn exteriors before putting a house on the market can cost between $1,200 to $3,500 and up, increasing your property value by 40 to 60%.
Add Ons
Lastly, some room additions, such as family rooms or new master suites with an additional bathroom, will add more value to your home than a fourth bedroom or private office. These add-ons can cost anywhere from $30,000 to $40,000.
I certainly hope this helps to assist you in making your home improvement.
