Spring is officially here and for many that means getting homes spruced up with a little spring cleaning; and for others, it means it's time to get some work done on their homes to get ready sell. This can be a touchy subject as many people believe that making changes to their home before selling is a waste of money or a frivolous thing to do before selling to someone who may not even appreciate their hard work. There have been a few articles we've come across lately explaining which home features have the best resale value and look more desirable for buyers.
Recently, King5 news reported on the top five renovations that have the best return on investment (for the Seattle area). Their findings were based on an annual Cost vs Value report that outlines the average cost of home renovations and then calculates the return on investment these rennovations brought for adding value to their home. The top five were somewhat surprising to us and are, as follows:
- Add manufactured stone veneer: +144.6 percent
- Replace garage door: +141.2 percent
- Composite deck addition: +122 percent
- Minor kitchen remodel: +116.3 percent
- Universal bathroom design: +107.2 percent
The definitions of all these terms are spelled out at the beginning of the report. We think it's worth a read even if you aren't planning to sell; but especially if you're planning any sort of projects in the coming months.
Another recent article we found particularly interesting was on Domino Magazine's website. Domino is a home decor and lifestyle based magazine, and they recently put together a full gallery of features that Zillow has reported as being the most desirable for homes sold between January and December 2017. Some of these twenty features are pretty commonplace, like "professional appliances" in the kitchen, or a "farmhouse sink". Though, many of the items on this list are pretty special. For instance, the list of just 20 items includes:
Other items on the list that might be an easier addition to make, for those looking to boost their "curb appeal", include a steam shower, an entertaining or "prep" sink, wine fridge, and outdoor fireplace. There have also been several studies that show using blue paint colors will help increase your home's value, as well.
Whether you're just planning a spring 'refresh' or a full remodel, we always suggest doing your research and taking home valuation into consideration. However, your home is YOURS and you should do what makes you happy! Feel free to contact us for questions or recommendations on local contractors.