August is National Curb Appeal Month, dedicated to helping homeowners focus on ways to add value and design appeal to their home’s exterior.
“Real estate agents tell us that potential home buyers make a ‘street decision’ in less than 12 seconds on whether or not to view a home that’s for sale,” says Niki Decker, senior manager of product and marketing for Fypon, creator of National Curb Appeal Month. “That’s a very short time to make a large impression and it all relies on the curb appeal of the house.
“Different curb appeal elements, such as well-maintained shrubbery, decorative millwork and trim, colorful plants and an appealing front entryway can have a fast, positive impact on home buyers. Even if your home is not for sale, curb appeal is important in setting a welcoming tone for your family and visitors.”
According to the 2014 Cost vs. Value Study conducted by Remodeling magazine, many products added to the home have a high return-on-investment at the time of a home sale. Adding energy-efficient vinyl windows as a mid-range project to a home can have a cost recoup value of 78.7 percent, while the addition of vinyl siding can have 78.2 percent recoup rate.
The same study reports that the replacement of an easy-care fiberglass entry door can have 70.8 percent of the cost recouped, while a new roof on the home has a 67.6 percent cost recoup. A recent study from the National Association of Home Builders reports that the three most wanted outdoor features consumers desire for their home exteriors are lighting, a patio and a front porch.
“Whether you’re adding a new component to the home’s exterior or ‘sprucing up’ existing elements, color plays a major role in creating curb appeal,” says Kate Smith, president of Sensational Color. “Adding color to the home exterior should be done in a ‘top-down’ approach so there’s a unified flow that creates an overall pleasing impression.
Reprinted with permission from RISMedia. ©2014. All rights reserved.
By Courtney Soinski
Before you dive into remodeling sections of your home, think it through and don’t spend your money on the wrong things. Remember to always consider the current state of the real estate housing market.
So, ask yourself, “What room renovations will add the highest return on my investment?” Take our survey to tell us what you think!
According to a study conducted by Remodeling Magazine, here top remodeling projects that will give you the biggest bang for your buck.
1. Basement Remodel
This project involves finishing the lower level of a house to create a 20×30 foot entertaining area with a wet bar and full bathroom. Walls and ceilings should be painted drywall and exterior walls insulated. Keep in mind that his type of remodel will only increase resale value if basement are common in the neighborhood and region.
2. Major Kitchen Remodel
According to the study, this is the best way to increase your home’s value. Upgrade your kitchen to a functional layout with new cabinets with modern finishes on countertops, custom lighting, and energy-efficient stainless steel appliances. To get the most out your spending, the room’s electrical and plumbing systems should be upgraded.
3. Two-Story Addition
Although a rather expensive and lengthy project that often requires the residents to relocate temporarily, two-story additions do a great job of expanding square footage. In fact, just one addition can add up to 3 rooms. The study recommends a first-floor family room and second-floor bedroom with a full bathroom.
4. Master Suite Remodel
When it comes to increasing your home’s resale value, renovations to your master bedroom are worth the money. If you want minor improvements, add plenty of closet space, install double sinks in the bathroom, and create a sitting area. Or, for a larger renovation, add an en suite bath and fireplace. We recommend carpet in the bedroom and ceramic tile in the master bathroom.
How much value does a remodel add to homes in your area? Click here to weigh in!
Source: Remodeling Magazine