Your home appraisal can be boosted with a few simple upgrades.
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Homeowners getting ready to put their house on the market know that this is the time to put their home’s proverbial best foot forward. But the to-do list can be overwhelming, especially if the house is large, old or if regular maintenance has been deferred.
When boiling it down to the elements that make the biggest difference in appraisal value versus investment of time and money, three distinct areas stand out: the kitchen, bathrooms and the first impression also known as curb appeal.
Curb Appeal
In a recent study in the Journal of Real Estate Finance and Economics, researchers determined that properties with excellent curb appeal sold for 7% more than similar properties in the same area with poor curb appeal. If a home’s landscape looks clean, crisp and well maintained, it creates the perception that the rest of the property, too, is well maintained.
A freshly cut, well maintained lawn translates to a good first impression.
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Mike Fitzpatrick, Vice President of U.S. Lawns, makes these suggestions:
“Expand your hardscape. If it’s within your budget, create an additional living space outside by expanding your stone or brick patio. However, be sure to consider if the higher valuation will exceed the added investment.”
Something that costs very little, but makes a big difference, he points out, is to add fresh mulch.
“Mulching around your trees, shrubs and plants helps to retain moisture while also reducing the amount of routine watering you need. This low cost project will create an immediate, noticeable impact on the appearance of your property.”
Other low-cost ways to boost curb appeal include mowing and edging, which looks good while it helps keep your lawn healthy, and pruning, which can be more important than we realize. Aesthetics are an important part of making the right first impression, but keeping your trees, shrubs and bushes properly pruned extends their life while keeping them and healthy.
If nothing else, add a pop of color. Even if it’s only two flower pots flanking the front door, it will help create an inviting entry way.
Bathroom Fixes
Leah Tuttleman, Interior Designer for Re-Bath, says that mid-range to upscale bathroom remodels recoup around 60% return on investment.
For bathrooms, light colors like gray and white are in style.
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“If you’re looking for quick projects to tackle before an appraisal, it’s best to keep upgrades simple and affordable.”
These are the steps she suggests to update and freshen up a bathroom:
“Lighten up! Replace low wattage bulbs with a higher watt LED bulb and use dimmers whenever possible,” Tuttleman says. “Strategic lighting can immediately brighten your entire space, making it feel larger.”
She suggests that you create a monochrome palette.
“Light, neutral colored bathrooms help make the room feel larger and calm. Update your space with a fresh coat of paint for an affordable yet dramatic refresh.”
Another suggestion is to focus on the fixtures. A simple and cost-effective fix for outdated bathrooms is putting a focus on your plumbing and light fixtures.
“Think updated vanity lights, faucets, chandelier, chic door or cabinet handles, etc. Brass and matte black finishes are especially popular right now and can transform your whole bathroom. Just make sure that the fixtures all match.”
Tuttleman’s other suggestions are to add storage in the form of shelving above a toilet or under a sink, to re-caulk the tub, making sure it’s waterproof caulking, and to swap out the vanity countertop.
Kitchen Projects to Tackle Ahead of a Refinance
Lisa Seeger, Design Trend Expert at N-Hance Wood Refinishing, points out that kitchen remodels recoup around 77.6% ROI.
Her suggestions for kitchen remodels include changing the color of the cabinets.
“Sometimes all it takes to revamp the entire kitchen is a simple cabinet color change,” Seeger says. “Some trending looks include all-white cabinets, black cabinetry, jewel-toned, two-toned cabinets, and grey.”
Sometimes, all your kitchen needs is a coat of fresh paint on the cabinets.
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Another affordable alternative to new cabinets is to replace cabinet doors.
“You replace the doors and drawer fronts and refinish the cabinet boxes to match.”
For a bit of drama, consider adding a new backsplash. For something out of the ordinary, find a backsplash made from alternative materials like aluminum, copper or stainless steel. Or, try using tile shapes like triangles and hexagons over the traditional rectangles and squares.
“This will give your kitchen a bold and modern feel with elegant cabinets,” Seeger says.
Other simple ugrades include updated hardware and ceiling treatments that complement the style of your cabinets for a truly unique and cohesive space.
At the costlier end of the spectrum: new countertops.
“They are a significant expense, but with the right material and style, they’re well worth it,” Seeger says. “Right now, quartz is the most popular high-end choice for new counters, with granite a close second. If you want a warmer look, consider installing a high-quality butcherblock counter. If on a budget, replacing just an island counter-top with a lighter color provides enough color to make a difference.”
Pay attention to lighting. The more natural sunlight in your kitchen, or any smaller space, the larger the room will feel. Artificial lighting can make a room feel more enclosed and stale. If this isn’t feasible in your current kitchen space, consider variants of low hanging lighting that will add depth to your kitchen. The simple and easy installation of a dimmer can also help.