Which Home Updates Pay Off
One of the most common questions we get at BestSAHomes from homeowners is which home updates they should do and which give the highest return on investment. We all know adding a swimming pool usually costs more than you get in value when you sell, so you don’t just add a pool to increase a home’s value, you add it for the entertainment you had while owning it. So which improvements are worth it and which are not.
Kitchen remodels average a 98.5% return on investment, so you can upgrade, enjoy your amazing new kitchen, and know that when it comes time to sell, your improvements will be rewarded. Nothing sells a home like a great kitchen. Some ways to stretch your dollars is to replace cabinet doors instead of all new cabinetry. Adding upgraded hardware can improve the look without a major investment of time and money.
Like a kitchen, a bathroom is a big reason why a buyer chooses a home. But when we talk bathrooms, we are talking the master bath. Save spending on secondary baths as they are not as much of a motivator as the master bath is. And instead of a major overhaul, focus on highly visible upgrades like countertops and sinks.
Landscapers say a home should have 5 – 10% of its value in landscaping. Few homes do. But a well-landscaped home stands out from the crowd and even small improvements make a big splash. The landscaping is often the first thing a buyers sees and you always want to make a good first impression. Remember it is better to have a theme and stick with groupings of the same plant than to several different plants done together.
Giving your garage door a face lift upgrades the whole home. As simple as adding a new coat of paint can bring a whole new look to your home. Replacing your garage door with upgraded ones is one of the least expensive improvements you can do to your home, but it pays off in a big way. With most homes having the garage doors in the front of the house, upgraded doors make your home stand out and set your property apart from others in your neighborhood.
Its true, new windows are much more energy-efficient. But for adding value, buyers will rarely pay more for a home because of the windows. Replacing 10 standard windows will run about $9,000 and that will be hard to recoup in home price. Use that money on new kitchen counters instead.
Everyone wants to be energy efficient and solar panels have reached a point where the cost is equal to the savings you get. But that’s only after about 15 years and the average homeowner stays in a home 7-9 years. That means the cost of $20,000 is usually not paid off when it comes time to sell. And if a homeowner should need to sell in say two years, they will have a large bill to pay at closing so someone else can experience those savings. Another problem, solar panels lose efficiency over time. So when you are reaching the end of your payments, the panels are reaching the end of their usefulness. Our recommendation – skip solar.
Home improvements are just one of the many things that effect a home’s price and determining the right price takes time and knowledge. If you are not an expert on home values, no worries, we are! The BestSAHomes Real Estate Team has the experience and knowledge that comes from having sold over 2,000 homes in the San Antonio area. If you are thinking about putting your home on the market, call us before you consider updates to sell your home. We are happy to consult with you about which moves will get you the biggest return. Call us at 210-999-0097.
Published on 2019-08-06 15:46:01