If you’re ready to list your Central Florida home for sale, you might wonder if you need to renovate first. And if so, which projects will bring you the greatest return on investment (ROI)? When selling a home and deciding which home improvements you want to invest in, keep in mind that there’s a big difference between what buyers like and what they’re willing to pay more for.
3 Home Improvements For Increasing Your Home’s Value
You might have heard that buyers love updated kitchens and spa bathrooms. But experts say you should focus on other areas of the home when making pre-listing improvements and surprisingly they’re not as dramatic or expensive as you may think!
The 35th edition of Remodeling Magazine’s Cost vs. Value report shows that exterior home improvement projects provide the greatest ROI to homeowners in Volusia County. In fact, out of the 22 most popular renovation projects in the report, 11 of the top 12 are exterior replacement ones.
- Garage Door Replacement
Believe it or not, replacing a garage door can return 94% of its value. It can also increase your home’s value by thousands of dollars, offering greater curb appeal, lower energy bills, and less maintenance for years to come. It can also help you sell your home faster and for more money.
- Manufactured Stone Veneer
Stone is renowned for imparting a classic, classy vibe. Adding stone veneer to the entryway dramatically enhances your home’s curb appeal and recoups nearly all of its costs (about 91%). This type of makeover is relatively simple and a lot less expensive than many homeowners think. Lighter than natural stone, stone veneer comes in a variety of colors to complement your existing siding and is a great choice for transforming your home’s character and making it more marketable.
- Entry Door Replacement
Besides improving your home’s curb appeal, a new front door can be a sound investment for increasing energy efficiency and security. How much a new entry door increases your home’s value depends on its cost, features, and how attractive potential buyers find it. Experts say that a well-designed and properly installed new front door can add thousands of dollars to a home’s perceived value.
Other Upgrades That Increase Home Value
Do all these exterior improvements mean you shouldn’t upgrade your kitchen or baths when selling a home? Not necessarily. Replacing outdated fixtures, counters, and appliances with newer versions can boost your asking price and give you a 72% return.
Other high-ROI improvements you might want to consider include:
- Adding a home office. With more people than ever working from home, converting an existing space into a work area can add significant resale value.
- Open up the floor plan. Open layouts are still a big selling feature and knocking out the right wall or two can create the more spacious look many home buyers are looking for.
- Install a new fence. An attractive fence creates architectural interest, adds privacy, and improves security.
- Touch up or redo the exterior paint. You could add upwards of $7,000 with a new exterior coat of paint. But even touching up flaking or chipped areas can project a better first impression to home buyers.
- Add a patio or deck. Buyers are often willing to spend more on a home with outdoor living space in areas like Central Florida that experience warm deck-friendly weather year-round. Already have a patio or deck in place? Consider adding a fire pit or outdoor fireplace to create a cozy spot for family and friends to gather.
As you look around your home and consider which updates are worth making, think about whether a particular project will help buyers see your property as somewhere they want to live. And, if you’re still unsure which improvements are best for your home, the agents at Bee Realty can help you choose the ones that could help you sell your home more quickly and for the best possible price!