Marianne Avila - Berkshire Hathaway HomeServices Verani Realty



Posted by Marianne Avila on 11/8/2020

Photo by Fotocraft via Shutterstock

Many homeowners spend thousands of dollars on improvements and upgrades only to find out that the return on their investment (ROI) is less than $1 to $1. That means that for every dollar spent, the selling price of their home does not go up a corresponding dollar. In fact, very few home improvements offer a dollar for dollar increase in price.

What some improvements accomplish, however, is a reduction of time that your home spends on the market. When calculating overall costs, a quicker sale can save you several additional mortgage payments on your home.

In-Home Improvements

If you intend to live in the house for some time, make the improvements that give you pleasure in your home. Renovate the house to meet your needs and improve your life. If you’re renovating just to sell, unless you bought the home as the lowest-priced house in a highly desirable market, redoing the kitchen and bath won’t always pay for themselves. However, they will make the home more attractive to buyers and give you a leg up on the competition.

Adding a room and increasing square-footage usually improves the home’s value. This means converting an attic or basement might be a better use of your funds. Adding a second bathroom also garners a buyer’s attention. But turning a garage into a family room could backfire on you if buyers treasure a garage more than the extra space. Before undertaking a garage conversion, speak with a knowledgeable real estate agent in that area to see which option buyers most often request.

Curb appeal Improvements

When choosing improvements for resale, adding to the curb appeal gives you the most bang for your buck. Replace street-view garage doors with carriage-house style or modern minimalist options and update the front door to match. Clean out flower beds, replant them, and trim them with stone edging. Keep bushes and hedges trimmed and prune trees to keep them healthy.

Circulation Improvements

Old homes in areas where air conditioning was an afterthought benefit from adding attic fans and insulation to improve the cooling properties. Also, when possible, install a whole house fan (different from an attic fan) as it offers superior circulation for a small investment and makes the lack of central air conditioning less noticeable.

Your professional real estate agent is your best resource to learn what’s selling in homes in your neighborhood.




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Posted by Marianne Avila on 8/23/2020

Photo by Breadmaker via Shutterstock

You may be thinking that your best investments are inside the home: a snazzy new kitchen, a spa-like bathroom or new wood floors, but you can actually get a high return on investment (ROI) if you focus on your home's curb appeal.

The first impression potential buyers have of your home is the outside. If you had to guess, what's the best purchase? If you guessed a garage door, you'd be right! Studies show that the recouped cost of a new garage door is usually around 97%, which means you basically get the whole amount back in home value.

Fixing Up the Outside

Before you go investing $4,000 in a new garage door, though, start by fixing up the existing features of your home. That means repairing or replacing vinyl siding, powering washing the outside and giving it a new paint job if necessary. Make sure windows and shutters are clean and without cracks or dings. Most importantly, if your roof is nearing the end of its warranty, or if you have known problems like leaks, now is the time to fix it. While the ROI on a new roof is only about 60%, roof problems can be a huge turn off for buyers, causing your home to sit on the market for longer and costing you more in the long run.

Landscaping

Start on your landscaping plan by cleaning up your yard. Get rid of the trash and yard debris so the yard stays presentable. If you have a green lawn, now is the time to review it. If your grass is growing well and covering the dirt, great! Keep it mowed and you are good to go. If your lawn is having problems, you may want to consider mixing it with other ground covering like gravel, recycled rubber or wood pellets. They are all much easier to maintain, especially in dryer climates not as well suited for grass. If you have empty or dying flower beds, now is the time to fill them up with seasonal flowers and bushes. These give you great color and make your home seem more welcoming to buyers. 

Before you start shelling out big money for upgrades, have your real estate agent review your home. They can suggest the best options for your market and price range, as well as provide accurate feedback about your home’s curb appeal. They may even have ideas for professional help to get your home in perfect selling shape.




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