Real Estate Matters
By Elisa Jo Eagan
There are many ways to add value to your home, but expensive and extensive renovations may not always offer the best return on your investment. In fact, according to the National Association of Realtors’ most recent Remodeling Impact Survey, it is not always the big-ticket items that pay off when it is time to sell.
This list includes a variety of home improvements that are ideally suited for fall DIY and weekend warrior projects. Each offers the chance to add to your enjoyment of your home today, and each will add value and market appeal when it comes time to sell in the future. Best of all, these affordable projects offer exceptional return on investment (ROI) potential.
- Lawn maintenance and upgrades
Think about how much of your home’s curb appeal is dependent on the condition of the lawn.
While many homeowners spend their weekends on lawn maintenance during the spring and summer, in fall we tend to focus more on leaf raking and removal.
Be sure to take the time to properly aerate your lawn and prepare it for hibernation. Cover planting beds with fresh straw or mulch, and have irrigation systems drained and prepared for winter.
- Plant a new tree
According to the Arbor Day Foundation, fall is an ideal time to plant new trees. Fall planting offers an added growing season after the stress of the hot summer months, and encourages optimal root growth.
According to the U.S. Department of Agriculture Forest Service, healthy, mature trees can add an average of 10% to a home’s value, as well as providing insulation and energy savings. That means that planting a tree this fall could pay dividends for years to come.
- Upgrade your curb appeal
There are a variety of ways to add curb appeal with simple and affordable upgrades. These can include painting the front door (black is a color with high return on investment), replacing the hardware, street numbers, mailbox, and light fixtures, and painting or power washing the front steps. If you are looking for an even bigger impact, consider having a new garage door installed – it can practically pay for itself in value when it comes time to sell.
- Upgrade your outdoor space
Fall is the perfect time to upgrade your outdoor spaces and install a firepit for those cool autumn evenings. This upgrade is simple to do yourself and it can improve your home’s marketability as part of an overall outdoor refresh. Consider repairing, refinishing, or expanding an existing deck or terrace, adding landscape lighting, or having an irrigation system installed for additional appeal.
- Install an elegant wet bar
You may remember the giant 1970s rec-room bars, but today’s wet bars are sleek and chic. You probably have space in an existing coat closet or unused nook where you can fit shelving, a small counter and sink, plus an under-counter wine fridge. This provides a lovely accent and helps to simplify serving when entertaining at home.
- Upgrade your closet space
Reimagine or reconfigure your current closets for added appeal and user-friendly convenience.
Knock out a wall to turn a step-in closet into a walk-in, or borrow some space in the bathroom to create dual closets. Install an updated organizational system in an existing closet for a custom design and optimal space utilization. Add upgraded lighting and finishes for a high-end look and feel.
- Refinish or repaint cabinets
If you don’t have the budget for a kitchen overhaul, start with the most prominent visual feature – the cabinets. Just by painting your existing outdated plain wood cabinets white, gray, a shade of light blue, or even a cheery turquoise, you can totally transform the look and feel of your kitchen at minimal cost. This can be a fun DIY project. Check online for how-to and design ideas. Changing your cabinet hardware will also add to the refresh of your kitchen.
- Repaint the interior
Repainting the interior of your home can have a significant impact on the way buyers see your home, and the way you do as well. According to the National Association of Realtors (NAR) survey, repainting helps homeowners enjoy their space while also offering a simple DIY way to add additional value. Choose from a neutral palette to make the interior more appealing to eventual buyers. Or, if you do not have the time or energy to repaint the entire interior, start simple with a fresh coat of paint in the entryway or foyer.
- Replace fixtures and finishes
If you are looking for a super simple and inexpensive way to upgrade your home’s interior, changing outdated fixtures and finishes is the way to go. Replace mismatched light switches and outlet covers with new, neutral styles. Replace old-fashioned interior door hardware with a cohesive, contemporary finish throughout. Change out cabinet hardware, update lighting fixtures, and switch out faucets to create a modern look and feel throughout your space.
- Install smart home upgrades
Smart-home upgrades offer the benefit of energy efficiency while you are living in the home, and a “wow” factor when it’s time to sell. There are a lot of technology items now available. Start simple with smart door locks and light bulbs, and then invest in a smart-home thermostat and security setup. Plan ahead to ensure that all of your smart-home devices work well together for a simpler, more integrated, and more enjoyable system.
If you are not sure where to start, or want advice on what upgrades will increase your home’s resale value based on your specific home, contact Elisa Jo Eagan, the “Real Estate Godmother,” at 609-703-0432. Learn more at www.TheRealEstateGodmother.com.
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!”
