Not all home upgrades are created equal. In fact, some enhancements will likely lose your seller (and you) money. Kitchen and bathroom upgrades have been held up as the Holy Grail of return on home investment for decades. But a major kitchen redo can end up costing the seller an extra $7,000. The key here is to keep costs down, and target projects that actually will increase value. Here are five home upgrades that have the biggest ROI.
1.Paint It, Black
Is a home love at first sight? If the first thing a buyer sees is a dated or unattractive front door, it might not be. But a Zillow report says that homes with doors painted black can sell for up to $6,000 more than others. Dress up the front door with potted plants, a wreath, and a new welcome mat. You can also improve a buyer’s first impression by updating the doorknob and knocker. Change out the porch light fixtures for something new and sleek. This is a relatively inexpensive makeover with a significant return on investment.
2. A Green Yard
A good-looking lawn means an even better property value. A Texas Tech University study says a manicured lawn can add 10 to 12 percent in value. That means mowing, edging, weeding, and treating any lawn disease that might be leaving patches of dead grass or other unsightly problems. Weeding and mulching the flower beds can also dress up the curb appeal. Think about planting colorful flowers that don’t need a lot of maintenance. Snapdragons, petunias, marigolds, and begonias do well in most climate zones across the United States.
3. New Garage Door
A new garage door is one of those home upgrades that really does have a significant return on investment. In fact, it makes such a big impact on a sale that your sellers might wonder why they didn’t do it sooner. A new garage door averages nearly a 100% ROI. Not only does it improve the look of the house, but it can also boost the home’s security and energy efficiency.
4. Make Room Outdoors
A built-in pool may look appealing, but it’s actually a poor return on the investment. Some can cost more than $20,000 to install while only adding a few thousand to the asking price. Creating an outdoor kitchen can cost anywhere from $500 to $10,000 and on up. But it’s one of those trendy home upgrades that appeals to American homebuyers. No longer are buyers satisfied with a barbecue grill on the patio. Think about adding a mini fridge, a smoker, or even a pizza oven. You can buy a prefabricated outdoor kitchen and install it, or have one custom designed. Either way, it shows potential buyers that there’s room for living both inside and outside the house.
5. Beige is Where the Money is
Whether it’s your grandma’s old wallpaper or the neighbor’s
bright purple living room, we’ve all been in a house with ugly walls.Paint color really
makes a difference. Light taupe living rooms increase the selling
price, on average, by more than $2,700. Neutral colors are more appealing to
buyers, and deep or vivid colors like red, brown, and yellow can actually
decrease the home’s values. Replacing old or dated outlet and light switch
plates is another inexpensive detail that complements the new paint. This will
also pay off on the closing day.
Every seller wants some kind of edge in the real estate
marketplace. Some makeovers boost curb appeal and draw potential buyers in to
look, others will convince a decision-maker to offer more money. The right home
upgrade can give your seller the maximum return on investment, and a little
more money in their pocket for their new home.
Katie Marie is a home and garden
writer, avid yogi, and outdoor explorer. She spends most of her time practicing
meditation and wellness using organic elements within nature.
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