Triangle Area Real Estate News & Information

Which home improvements are the most valuable investments to make? There is a seemingly endless list of potential renovations that any home could use, but only a small set of them really make sense in most cases. As I say about any major decision about your home, it all starts with thinking clearly about your long-term plans for the home. How long you plan to stay in your home can affect which renovations are the most beneficial. Thinking ahead can help you to budget and plan more effectively. In many cases, spreading renovation projects out over a couple of years can make the process more manageable. If your home needs attention in multiple areas, it’s important to think about the order in which you will complete the projects.

The two main considerations are return on investment and quality of life. There are a number of things you can do with a home that may improve your personal living experience, but will also lower the market value of your home. It’s not an either/or proposition, but it is often a trade-off. One general thing to think about when considering any major upgrade: if you plan to live in your home for a few years or more, don’t wait until you’re ready to sell the home to install features that you might enjoy! Here are a few areas of your home to consider if you are evaluating how best to spend your home improvement dollars.

Roof & Foundation

Roof problems can be some of the most expensive to repair, especially when left untended for a long time. If you have not had a professional inspect your roof in recent years, this is an important place to start. If the roof (or part of the roof) needs replacement, you might as well find that out sooner rather than later. When you sell your home, a leaking roof is an instant deal-breaker for a lot of buyers. If there are any telltale signs such as cracks in walls or doors that do not close properly (especially in older homes), it requires specialized expertise to determine the cause and what can be done to address it. Many times, these and other signs appear as a result of easily fixable conditions.

The grading around your house is especially important; there should be at least a 5% grade slanting away from the house. Finally, make sure that your gutters are cleaned and that any damaged sections are replaced. Proper drainage is critical for preventing foundation issues. If you see any water pooling or excess moisture in the crawl space, addressing these issues should be a top priority. (See also: Should You Close the Vents in Your Crawl Space?) These types of repairs generally do not generate a return on investment but if there are problems with either that aren't addressed they will have a serious negative impact on the sale of a property. 

Energy Efficiency

There may be a number of improvements that can significantly reduce your heating, air conditioning and water bills. These have the added bonus of putting money back in your pocket each month, and they boost resale value. It may be time to replace your HVAC unit with a newer and more efficient one, or you might first need to have better insulation installed. Many times, energy loss results from leaky windows or drafty doors. Be wary of overspending on efficiency improvements; some can be pricey and yield minimal savings.

Curb Appeal

Generally speaking, upgrades that improve the look of a home from the street will help your home sell faster and often offer better returns than anything you can do inside the house. Replacing old cracked siding and cleaning up the foliage around the property can make a world of difference when it comes to making a good impression. Also, if you have any large or overgrown trees in your yard, consider having them removed or cut back—these can cause significant damage to rooftops if they fall during a storm. Dead trees should always be removed completely. An add-on like a front porch, steel fence or back deck can be a plus and can add to the sale price of your home. If you’re on a limited budget the best investment you can make in terms of selling your home is a good professional paint job, inside and out. HGTV regularly complies lists of the best home improvements you can make in terms of return on investment and these are an excellent resource.

Kitchen, Bath and Other Interior Upgrades

Upgraded kitchens and bathrooms consistently yield a good ROI—but this is another area of the home where it is easy to over-improve. New cabinetry is a big plus, especially if the current cabinets are worn and visibly faded. Replacing worn or stained carpet or repainting walls is often necessary before putting a home on the market.

Knowing the right improvements to make to your property at the right time can help you save considerable expense, get more money when you sell your home and improve your quality of life. If you are planning to put your home on the market soon and need help deciding what to fix or improve, send us a message or give us a call. My partner, Andrew Palumbo, and I have extensive construction experience and can help you figure out a practical plan for maximizing your home’s sale value.