So many times sellers ask what they can do to improve their homes resale value. Remodeling Magazine in their 2020 Cost vs Value Report for the South Atlantic States, gave the following areas to improve single family residences to drive up home sale prices:
(Listed in Percentage Order of Highest Return on Investment)
Garage Door Replacement –88.7%
Siding Replacment (fiber/cement)- 80.5%
Siding Replacement (vinyl) – 76%
Window Replacement – 73.2%
Bathroom Remodel – 66.7%
Roofing Replacement – 68.2%
Entry Door Replacement – 67%
Major Kitchen Remodel – 58.7%
(For More Information: remodeling.hw.net/cost-vs-value/2020/south-atlantic/)
It seems that items on the outside or “first impression” items like roofs, siding, windows and entrances rank very high on the list. While kitchen and baths, always deemed to be the very highest interior improvements a home owner can make, are right below that.
We might add that neutral colors in selection of siding, roofs and interior rooms seem to always cause a higher ratio of buyers to be interested in purchasing homes. For instance, having a bright red or orange colored roof might not achieve a sale as fast as a light brown, grey or tan colored one. Not all homeowners want to stand out; many home buyers want a home that more standard than unique.
In our experience, for kitchen and baths–white or lighter colors which provide a blank palette for the next owner are optimum choices. And while wall paper and bright hues are wonderful to live with once you move in–when you go to sell your home, many Realtors might suggest keeping the color and pattern scheme to a sedate and neutral range of colors and prints.
Let’s point out that all of the above mentioned improvements involve sight, or the visual sense. But also important are: smells, and sound.
A home should be devoid of animal odors or over powering fragrances. For home owners with pets, It doesn’t mean you have to get rid of your pet, but it does mean to ask your Realtor what they think about the air quality in the home. Sometimes simple tricks like changing out shower curtains, laundering comforters and rugs, and hiring a professional cleaning service for the listing term, can eliminate any cause for odor concerns. Together with your Realtor, you can come up with a marketing game plan. The best smell most times is simple fresh air, and after that, very light citrus or greens. Of course homeowners often ask if they should bake–and a good smell like cookies or breads are inviting as well. While a buyer may not comment on the smells in a home–it absolutely factors into their decision making process. Money invested in neutralizing odors is money that always comes back to the home seller.
Noises–well, if a home is closer to a road, or near a train or loud neighbors, insulated windows can save the day! And this why with replacement windows, in our view, is one the best changes you can make to a home–not only to keep utility costs down, and improve usage, but also to create a quiet oasis and serene setting where the only noises inside are the light hums of appliances or air conditioning system.