Can you name 6 home upgrades that add VALUE to your home?

Are you thinking about selling your home in the future and want to know what upgrades add value to your home? Maybe you just want to add value for your own benefit. Today, I’ll be writing about what I believe are the top 6 items that add value AND 4 “upgrades” that may actually COST you money, so read through until the end for those.

Now, on to those 6 upgrades that add value to your home. It’s important to note that this list is NOT a comprehensive list, and these items are listed in no particular order.

1. Landscaping. Of course, we all know that the lawn needs to be mowed. But are the hedges or weeds out of control? It’s important to remember that sometimes LESS is MORE. Trim those bushes or remove them all together if they don’t ADD to the look. Pull the weeds, or even just use some weedkiller and add some fresh mulch. Mulching is an easy fix and it’s relatively inexpensive for the improvement it makes, and I believe it’s one of the most important aspects of a home’s landscaping. If removing some of those weeds makes those landscaping beds look bare to you, ask a neighbor or a friend for their perspective. Sometimes just putting in some annual flowers before that mulch can make a HUGE difference! Don’t think for a minute that landscaping has to be expensive or that it isn’t a valuable home upgrade.

2. Consider a kitchen or bath remodel. These can be very expensive home upgrades; however, they can have a huge impact on the quality of life in your home. You could easily spend 20 to 50 thousand dollars here, so be careful as home upgrades like this may not be a good return on your investment. As such, if selling your home is in the near future, it may be wise to skip this home upgrade.

3. Upgrading your home’s fixtures. Maybe you don’t want to dump serious cash into your home, or maybe that just isn’t an option. As such, consider replacing the kitchen and bathroom faucets and lighting. Replace the old globe style lights with one of the many trendy options in any home improvement store. A $50 faucet could make a huge difference in a bathroom. Speaking of that bathroom, consider replacing the toilet, nothing screams 1978 more than an old, beige toilet that sits about 8 inches off of the ground! Ceiling fans are another great home upgrade.  I recently replaced the ceiling fans in the common area of my home, and it made a huge difference, and I spent well under 500 bucks!

4. Consider replacing those old appliances as an upgrade to add value. Newer, matching, energy efficient appliances can save you money in the long run, keep you from losing your food when your refrigerator goes out when you’re on vacation, and they can completely improve the look, especially in an older kitchen. When I’m out with a perspective home buyer, I’ll sometimes hear them speak of passing on a $500,000 home just because of dated appliances, which could potentially be replaced for just a few thousand bucks.

5. Add a fresh coat of paint, especially interior paint. Life just has a way of making a home look worn. Sometimes people don’t use the door handles and grab the door instead. Maybe that light switch is a bit further over on the wall than it should be. Over time, dirt from our hands can dirty up a wall. Sometimes a magic eraser can do the job here, but sometimes the problem is much bigger. If there is a smoker in the home, the ceilings and walls may be yellowish and, if you’ve been in the home for a while, YOU may not even notice it, but be assured that those that don’t live in your home DO notice it.

Maybe that front door is worn from your puppy’s attempts to let you know that he has to go outside or simply from years of walking in an out of it. Of course, the exterior paint can also be an issue, but sometimes just pressure washing your home can be a value upgrade all by itself. Painting can be a relatively inexpensive home upgrade that adds value and it’s perhaps my first “go-to” when sellers ask me for tips on upgrading their home to add value.

6. The basement. Now, before we get to the “upgrades” that may COST you money, let’s address the 6^th home upgrade that can add value to your home, the basement. I know that there aren’t many basements here in Florida, but they DO exist. Finishing a basement can be a huge upgrade to add to a home’s value. Perhaps add drywall or flooring or even another bath or kitchenette. If you don’t have children, or an In-Law that could use that space, it doesn’t mean that a potential buyer doesn’t. In recent years In-Law, or accessory dwellings have become a huge value upgrade. But before you go adding a kitchen or bathroom, make sure that you check to see if your local municipality will allow that.

Home upgrades that may detract from a home’s value

1. Garage conversions. Converting that basement into useable space may be a great option; however, converting the garage into usable space is usually what I see as a poor choice for a home upgrade. Home buyers typically want those garages, and the shape of a two-car garage often doesn’t lend itself to blending with the flow of rest of the home’s livable floor space. Appraisers don’t always give value to a converted garage and buyers are often concerned about whether the conversion was done with a permit. These buyers may see the conversion as a repair that they’ll have to contend with, which usually doesn’t bode well for the seller.

2. Swimming pools can have a great impact on the quality of the owner’s life. However, putting in a pool just for the sake of an upgrade can also have a great impact on emptying your wallet as it is bad investment IF you’re doing it for the sake of improving the home’s value for sale. The cost of installing a swimming pool usually WELL exceeds the return on that investment when selling. So, while a swimming pool may be an upgrade that adds value, I believe it is often a bad investment.

3. Luxury upgrades. Another upgrade that does NOT add value is luxury upgrades. Unless you’re selling a multi-million-dollar mansion, adding upgrades like building out the bathroom to add a soaker tub, or something crazy like gold inlaid faucets will COST you money. Yes, given the right buyer, these upgrades COULD be the difference maker, but not for most buyers here in Central Florida.

4. Unfinished projects. So… you started upgrading the kitchen flooring some time ago and you finished MOST of it, it’s just that little piece that flows into the laundry room. It’s functional and not that a big of a deal, right? WRONG! It IS a big deal. Spend the time and/or money and get it finished. What if the perspective homebuyer isn’t handy like you are? That little piece of 3 square feet of unfinished tile could cost you thousands of dollars. If you started a project, it’s usually wise to finish it. Some buyers will view your home as a “fixer upper” and may punish you with their offer, so this is certainly a fix to make if you want to add value to your home.

As I noted before, this is not a comprehensive list. It’s just a few of the biggies that I tend to see regularly in my line of work. If you have others or have questions about YOUR home, or if you have any real estate related needs, please reach out to me directly. 

Published on November 03. 2022 / Tags: Home Improvement, Tips to selling your home / no comments.