It's amazing what a little elbow grease can do to really increase the bottom line on your income property value. From curb appeal to backyard upgrades. There are a few steps that could help you increase your property value, and we're here to let you know what those are.
Let's take a closer look at the main areas you need to focus on in order to increase your property value and really add some pizzazz to your home from the outside.
Want to get an idea of the value of your home? Step outside, walk across the street and ask yourself ''Does my home have curb appeal?'' If you were a homeowner looking to buy, would you be interested in visiting your home? Is it attractive, welcoming and overall appealing at first glance?
How your home looks from the street is your first chance to make a good impression. A home’s exterior is your first contact with a prospective buyer. Try to make it as positive as you can. You should always make sure your existing landscape is well-maintained. Consider planting flowers or repainting the front door. The idea here is to keep everything fresh and spruced up.
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Landscaping is probably the best and easiest, most affordable way to increase your home value in the first year. If you think about it, it makes perfect sense: healthy trees, colorful flowers and a neatly trimmed lawn instantly add visual appeal to any home. That being said, it is important to think of maintenance when planning your landscape revamping. The current trend in landscaping is low-upkeep. When people are house hunting, they’re looking for outdoor spaces that require minimal maintenance. According to Cassy Aoyagi, president of FormLA Landscaping, when people are house hunting and they see complicated landscaping, the first thought that pops in their head is ''that’s beautiful'' and the second is ''that’s way too much work for me''.
According to HomeLight’s second-quarter 2019 survey of real estate agents, 76% of the top real estate agents nationwide agreed that improving curb appeal is the number one step a homeowner can take to boost their home’s marketability. Some experts suggest that good landscaping can add 20% to your home’s value by boosting your curb appeal and adding functional outdoor spaces to enjoy.
Creating a backyard oasis
As for the back of the house, creating a functional outdoor space goes a long way. There are many ways to do so.
As mentioned in our Top 5 Landscaping Trends of 2020 blog, bringing the indoors out is going to be a big trend this year. Therefore, expanding living space is key. Adding a paver patio, with room for seating and adding a few outdoor features in the mix can really increase your bottom line. In fact, according to the National Association of Realtors and the National Association of Landscape Professionals, you can expect a return of 69 percent on a concrete patio investment.
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As previously mentioned, low-maintenance is also a trend and is something you also need to keep in mind when revamping your backyard. Buyers are gravitating more towards fire pits with a seating area than swimming pools that require extensive up-keep. Homeowners who install fire features can expect to see a 67 percent return on investment, according to the NAR and NALP.
Lastly, an outdoor kitchen may be something you want to consider when planning out your backyard remodel. It is a feature that could seal the deal when putting your house on the market. The NAR and NALP claim an outdoor kitchen project could set you back approximately $14,000 but you’ll recover an estimated $10,000. To guarantee the best return on investment, keep the project simple. Cover all the basics of an outdoor kitchen: a grill, storage space and counter top is plenty. If you want the bells and whistles, add in an ice chest and a sink.
Follow these simple steps and your home should sell in no time! Need help making these projects happen? Check out our Techo-Bloc Village to find a qualified contractor in your area.