If you are selling your home in San Diego, there are a few fixes that can significantly increase the value of your home. Buying a home for your family is a serious long-term investment. However, ROI due to market fluctuations can be quite unpredictable. Considering the cost of renovations during your time as the homeowner, there is hardly any guarantee on a return unless you spend your money on wise upgrades.
The National Association of Realtors (NAR) recommends that you should save at least 1% of your house’s current value every year to spend it on upkeep and maintenance projects. Home appraisers will take into account every minute detail of your home and will decrease its value if they find driveway cracks, dysfunctional appliances, or damaged roof tiles that you have neglected to fix for so long.
On the other hand, if you spend too much on high-quality floors or custom projects that push up expenses more than what your house is worth, then you will be incredibly sorry. Properly increasing the value of your home requires a mix of tender loving care as well as smart and informed renovating decisions. Not every project you find on home decor websites or magazines is worth the trouble, no matter how chic and sophisticated they may look in the pictures. So, what can you do to boost the value of your house? Learn what improvements provide the most value.
Inspect Your House with an Expert
One of the more cautious ways to boost your home’s resale value is to get professional help. We’re talking about consulting with an interior designer or a realtor. Some realtors may do it for free out of courtesy for their clients, but there’s a certain fee that interior designers attach on their end. But don’t worry, because even a color palette suggestion for your walls will be highly beneficial to the overall look and feel of your house, thereby increasing its resale value.
Similarly, you should also inspect your house together with pest control professionals to ensure the house is free from any bothersome vermin or pests that could pose a risk to anyone’s health like termites or cockroaches. Bear in mind that it’s not always about how your house looks from the inside and out that adds value to it, but also knowing that it’s free of pests. You should also inspect hidden issues like an outdated electrical system or a deteriorating roof before they become even bigger problems by the time you’re ready to sell the house. Although they may be small problems, they will certainly affect the overall resale value of your house if it’s not properly taken care of.
Remodel Your Kitchen and Bathroom
If you ask any real estate agent, they’ll tell you that kitchens and bathrooms yield some of the best returns on your investment. According to HomeAdvisor’s chief economist, Brad Hunter, millennial homeowners are now twice as likely as the boomer generation to tackle bathroom and kitchen remodels. The reports suggest that millennials have already compromised on the condition and size of their first houses. Many buy older houses that require repairs just so they can afford homeownership. When all that is taken into consideration – along with the fact that bathrooms and kitchens are high-traffic and high-use rooms – the interest for these types of projects is extremely high. It is also said that appraisers especially look for updates in these areas before any other place in the house because of their appeal for interested buyers.
Out of these two, Aaron Bowman, a Connecticut realtor, says that kitchens are the ones with the biggest ROI. So to get in on those returns, you should start by replacing some of the outdated appliances with new ones, preferably those that match, if possible. You have the option to either replace or reface old cabinets to breathe new life into your aged flooring with some newer vinyl or tile options. Even simple updates such as new appliances or a backsplash can bring incredible value to your home’s market value.
For instance, if you only bought a house with Formica countertops and standard cabinets in your kitchen, then you can swap it out for granite or quartz and get a great return on your investment. Leneiva Head, a Tennessee real estate broker and founder of Welcome Home Realty, suggests replacing the floors and overhead lights for monorail lighting and adding gourmet-style cabinets. For bathrooms, Bowman says there’s no need to completely renovate it. There’s a way for you to tackle less expensive elements like fixtures, toilets, and vanities to achieve an updated look and feel without having to break the bank for it.
Add Energy-Efficient Windows
Windows that waste energy need to be replaced since there are plenty of buyers these days who are looking for more energy-efficient houses. If you’re looking for a good eco-friendly window replacement option, then you should consider buying windows that are Energy Star certified as they can save you a significant amount of money in cooling and heating costs. HGTV says that between 60 to 90% of your costs can be regained when you invest in energy-efficient windows in San Diego. You’ll even receive a 10% green energy tax credit for this upgrade as long as you’re installing windows that meet Energy Star requirements (check with your accountant if it’s still available for your install). You can also qualify for extra credits from your state or perhaps your utility company.
You can learn more about the kind of offers and rebates that are available in your area when you visit the Energy Star Rebate Finder. You’ll come across a database that will provide you with information specifically for your state. To get relevant search results, be sure to check “windows.” According to Energy Star, the average cost of window replacement for an average-sized house costs between $7500-$10,000, or maybe even more. If these new windows are Energy Star certified, they can save you over a couple of hundred dollars per year. Combined with a tax credit, you can regain that investment over time.
Don’t Forget About Curb Appeal With Landscaping
First impressions are everything and one of the biggest pitfalls to that is a messy lawn. That’s why it’s pivotal for you to ensure your front and backyard are clean and tidy. While you do that, you should also consider adding a couple of landscaping touches to increase your house’s appeal, such as colorful plants and green shrubs – hence, increasing its worth. According to the Trusted Services Group home renovation experts, a landscaped garden improves a house’s overall aesthetic significantly, especially when it’s done by legitimate and renowned professionals that provide quality services.
In case you prefer to do it yourself, we suggest opting for low-maintenance landscaping that makes use of plants that are native around your area. This is because there is an excellent chance that these plants require less maintenance and water. You can even take advantage of a fully grown tree which not only brings more curb appeal to your house but can also considerably cut down on cooling costs. If you need more convincing, a study from Michigan State University’s department of horticulture reveals that landscaping can bring between 5% to 11% resale value to a home. Other reports reveal that it can help a home sell approximately six weeks faster.
Remake Or Add a Deck
Adding a deck is another way to increase your house’s curb appeal. More and more people are looking for outdoor living spaces, especially if they’re staying home for vacation. Making your deck and your backyard more aesthetically-pleasing will attract potential buyers when it’s time to sell. HGTV says homeowners can regain 65% to 90% of their investment after adding a deck. There are varying differences in the prices of decks depending on the size and how many extra features you’d like to add such as multiple stairs, built-in flower pots, and built-in seating. You can get decks anywhere between $1,200 and $10,000 or even more. But again, it depends on the materials that are used and the design behind it.
If you prefer to cut down the costs, typically by half the amount, then you can also undertake the deck project on your own. Though this isn’t something that we strongly recommend as constructing decks is not as easy as you’d like it to be if you’re trying to save up. You need to take into account certain tools like a band saw, which can be a pretty hefty investment, especially if you’re not going to use it for a long time, or ever again.
If you wish to hire a contractor, you can browse around before you come to a decision. Just be sure you get about three quotes, along with specifics, from the contractors that you’re interviewing. You may also go through references before you finally agree to hire a contractor. You should also be on the lookout for home improvement repair scams. To be on the safe side, it’s best to check out sites like Angie’s List and HomeAdvisor.
Add Square Footage or Modify the Floor Plan
Nowadays, more people prefer houses with an open design rather than a closed one. If your house falls into the latter category, then Head suggests that removing a wall or two is the only way you can boost its value in under a year. She says that a couple bought an older house that came with a wall between the living room and the kitchen. The couple had the wall removed, had the hardwood floors sanded and included a kitchen island, creating the kind of open look that people like these days.
If that’s not your thing, you can just add square footage through a second family room, four-season room, or a bathroom. Houses with more spaces result in higher values, which is something that buyers typically notice. Certified financial planner, Meghan Chomut, with expertise in supporting property owners and families, says that including another decent-sized bedroom can expand your buyer list once you’re looking to sell. That’s because more people almost always prefer properties that come with more bedrooms than their family needs over those that come with less.
Add Energy-Efficient Insulation
Another way your house can push down those heavy cooling and heating costs is through insulation. If your house doesn’t have even the most basic insulation, it’s not going to look good in the reports of home inspectors who are working with prospective buyers. Households that are not energy-efficient usually cost more to live in and maintain. If you make the right decisions, converting your house to a cost-saving alternative will not only be an inexpensive endeavor but will also have it look more attractive in the eyes of potential buyers.
Simply making a couple of changes could save up to $2,500 or more every year. For instance, adding extra insulation to your attic can cost you $200 or less, which could save hundreds on your utility bill every year as a result. You can save more on energy costs and make it look more attractive to potential buyers if you seal the cracks around your house. It is possible to locate the leaks around your house, especially during winter, when you feel a cold spot or a draft. To detect temperature differences around your house, you can purchase a thermal leak detector for $40 or less. Then you can add insulation or caulk anywhere you need it.
And there you have it! These seven tips are just what you need to get rid of any unsightly problems or anything else that may turn off potential buyers from purchasing your San Diego house. It may be quite a chore but in the end you’ll feel more relieved knowing you got the best resale value for your house. If you have some tips that you would like to share with us, feel free to let us know below.
.jpg)