Home Improvements Can Equal Higher Home Values
When home buyers first buy their property they usually make a list of the home improvement projects that need to be tackled. First, you want your home to “look good,” and even though some projects are more costly than others, it makes a difference when the exterior of your home is eye appealing. To most people in real estate, it’s sometimes the smaller projects that make the home not only more livable but also more valuable in the long run. Granite countertops, brand new counters, and new fixtures are all great, but as far as bang for your buck, it’s really hard to compete with the value of improving the paint and flooring and staging the property.
Here are some of the best-bang-for-your-buck ideas on improving the value of your San Diego home:
- It’s what’s out front that counts. Painting your house is the best, most cost effective improvement an owner can make. Because too many houses in San Diego have stucco exteriors, re-stuccoing also can make a dramatic change. Also, having the walls power washed can make a significant positive change. A much less expensive way to shine the exterior is resurfacing the driveway to eliminate cracks and oil stains that have made the house appear to look deferred. On top of that all, good landscaping should be maintained and the house should never look to be cluttered or have any type of build up. Don’t go crazy on the exterior, just look to the worse house on your street and bring yours above that standard.
- Step inside. Some say a potential buyer decides within five seconds of entering a home whether they want to buy it or not. Step outside your own front door and look with fresh eyes to see if there is anything that you think may need an upgrade. Things like lighting or fresh plants always improve.
- Living rooms. On the inside of the house, the living room is usually the first room people see when they walk into a home so light, neutral colors are preferable. In addition, take the popcorn off the ceiling to modernize the look and better reflect light. This can be a messy process but it’s a big value booster.
- Kitchens. Spending $20,000 or more for a brand new kitchen isn’t necessary. Owners can instead refinish cabinets and put in new countertops to achieve a significant upgrade. Another way to upgrade is to replace an appliance that may not match the rest.
- Bathrooms. Again, no $10,000 remodel is necessary with a new can of paint, some new fixtures (especially replacing any corrosion or stains) and modernizing mirrors. You can distract from a bathroom being all original after it’s painted nicely and the room is decorated and free of clutter.
- Flooring. If carpeting or hardwood floors are in bad condition, there’s really no alternative but to replace or refinish them. However, in some local homes, owners should be aware there could be buried treasure. Sometimes checking under the carpet in older homes can be beautiful hardwood floors and beautiful hardwood floors are great eye-catchers.
- San Diego “feel.” Anything done to connect the inside living area with the outside is a plus. If there is an existing deck or patio off a living room, match colors and furniture styles and keep the outside area clean and simple. If putting a deck outside is too costly, add a small patio. This is mandatory if there is a view.
- Staging. Once the decision has been made to sell, there are some inexpensive, short-term things that can increase value and quicken the process. By bringing in new, rented furniture and having it professionally arranged, can make the house more inviting and increase value.
In conclusion, there are four cost-effective musts for any homeowner looking to increase value: paint inside and out, put in recessed lighting, put in new carpeting or refinish wood floors and when ready to sell, stage it. In today’s market most of the home flippers aren’t changing the property from wall to wall, they’re painting it, putting in new lights and redoing the floors. All of that is enough to get anywhere from $20,000 to $80,000 in value.
