Real Estate Matters
With summertime in full swing, it is time to enjoy your outdoor spaces.
Whether you are updating your home for a quick sale, or choosing a project to increase the equity in your home, it is important to choose wisely with projects that sell. You can start by checking out these summertime, value-added improvements.
Doors, Siding and Roofing
They are not as hot as other outdoor projects, but these elements are among the most value-added improvements you can make to your home’s exterior.
Year after year, new exterior doors, garage doors, siding and roofing lead the pack in return on investment (ROI). Remember, these improvements don’t have to be strictly utilitarian; they can contribute to updating and upgrading your home’s curb appeal as well. You can for a different color, material, or look by enhancing these updates with new exterior lighting and hardware for maximum impact.
Landscaping Updates
One of the most cost-effective ways to add value, no matter what your plans are for selling your home, is by planting trees. Offering a host of benefits, including improving your ecological footprint, savings on heating and cooling costs and appreciation year after year, mature trees add beauty and value to your home and neighborhood.
In addition, well-maintained landscaping can make a big difference in the way your home looks without breaking the bank or requiring weekend warrior DIY credentials. Make it easier on yourself by hiring a lawn service, or installing an irrigation system to help your lawn reach its full potential.
Patios and Decks
Patios and decks are always popular upgrades; they generally recoup much of their cost. Take a look at what the market will bear before deciding on an over-the-top, elaborate patio or deck.
Multiple levels, pergolas and other bells and whistles may seem like a major selling point during the spring and summer seasons, but in the winter months, consider and factor in the maintenance costs.
Pools
Location is a major factor in determining the return on investment for a pool. In some locations and neighborhoods, especially luxury properties, a pool is considered a must-have home oasis, and a place for staycation time.
For some, a pool is a drawback, particularly when it’s closed and unusable during fall and winter. With the cost of electricity, installation, chemicals, and insurance, many view it as an unnecessary expense. Recovering your investment in a pool can be challenging.
A general rule of thumb is to not install a pool unless it is something that will enhance your quality of life during the years you are living in your home.
Outdoor Kitchen
and Dining Room
A summer kitchen or outdoor kitchen can provide a beautiful setting for outdoor lunches, dinners and entertaining opportunities.
The key to enhancing your return on investment with an outdoor kitchen is scale. While a luxury property might require extreme upgrades, for most homes, an inset grill, stainless steel ice chest and drawers and sufficient counter space are all that is required for a functional outdoor kitchen. Add an amply sized table and chairs with a roof or pergola and you are ready to host your next outdoor party.
Firepits and Seating
Though summer is warm most of the time, the evenings can turn cooler, especially at the beginning and end of the season. A large firepit or fire bowl with seating makes for a perfect place to cozy up for a long evening of marshmallow roasting and storytelling with family and friends.
As a bonus, fire features can range from elaborate gas-powered setups, to simple, cost-effective DIY projects; meaning they are a value-added update that you can afford no matter your budget.
Pet Projects
Our pets are our family. too. For many buyers, pet-friendly features are a major consideration, so projects that appeal to pet parents are particularly popular selling points. These can include:
- Pet-friendly fencing options or dog runs
- Animal pools or bathing stations
- Climate controlled doghouses
- Dog potty areas
- Pet-friendly landscaping
- Splash fountain water features
Since 67% of United States households own a pet, a marketing plan that accounts for pets may make your home the top choice for even more buyers.
Don’t forget to include additional features like outdoor lighting and audio to enhance your updated space. For upgraded landscaping, ensure that you have a plan in place to keep it healthy and optimally maintained, no matter the season.
A real estate professional has the insights and professional resources to assist you in determining which outdoor improvement will have the most impact at the closing table for you, depending on your specific home and a variety of factors, including buyer demand, comparable properties and market conditions.
Until next time, enjoy the pool, keep cool and enjoy everything Shore Local!
For More Real Estate Questions, Information and Advice Contact Elisa Jo Eagan “The Real Estate Godmother” (609)703-0432 and Remember…”There’s No Place Like Owning Your Own Home!”
