As we enter the new year, real estate agents predict buyers should expect another round of high prices as the demand for homes continues to soar.
While trends still lean to favor a sellers-market, top real estate agents encourage those interested in selling to consider home improvements to add value to their property.
Agents are encouraging sellers to factor in curb appeal when putting your home on the market, making your neighbors happy and your neighborhood more desirable. Curb appeal can be worth the expense, and surveys show buyers are willing to pay 7% more for your property when adding these improvements.
Keep reading for tips on how to get started and the advantages of making your house more aesthetically appealing!
Increase the value of your home with these high ROI projects
Considering return on investment is crucial when renovating your home. According to HomeLight’s Top Agent Insights for New Year 2022, the curb appeal projects such as basic yard care, fresh mulch, landscaping, exterior paint jobs, and garage door installation have a positive ROI, which is not always promised in home improvement projects.
Basic yard care and applying fresh mulch will yield the highest ROI, collectively adding approximately $4,500 in resale value. A landscaping upgrade adds nearly $6,235 in resale value, painting your property adds about $7,571 in resale value, and installing a new garage door adds $2,797.
These projects are doable and don’t have to cost a fortune. It’s recommended that sellers invest an average of about $3,467 in curb appeal before listing their home, yielding around $11,718 in resale value for a 238% ROI.
COVID-19 brought front porches back into style
Since the pandemic began, front porches have been making a comeback as they’ve become increasingly desirable. After stay-at-home orders and nationwide lockdowns, homeowners are more interested in outdoor living spaces.
Top real estate agents have estimated that the dollar amount a front porch adds to a home has increased by 61% since March of 2020, from $3,526 to $5,686. The comfortable and social advantages that front porches offer appeals to many buyers.
Just imagine waiting for your home to sell and enjoying a chat with your neighbors or a cozy morning sipping coffee in your chair!
Think simply on a tight budget
When selling, it’s easy to be overwhelmed with numbers and overlook the simple benefit that something like curb appeal improvements can provide. While it’s important to address all the factors buyers consider when searching for a new home, agents urge sellers to keep in mind the simplest improvements.
Don’t let your budget rule these projects out completely. See which projects fit within your budget. Give your exterior a fresh coat of paint, or upgrade your landscaping. A few flowers and fresh mulch can be worth the investment, and your time.