We always want our property to have the greatest value. So when we think of ways to improve our home, we want to choose projects that will add the most value to our property. The following are some of the most popular (and most effective ways) to add to your home’s resale value.
Landscape your backyard
Having a landscaped yard with our home gives it a higher value. But we need to bear in mind the cost of upkeeping a lawn as part of the landscape. With landscaping as important in adding value, it is important to choose a mix of vegetation. A landscape with low upkeep shrubs and perennials will add interest to the landscape. That is beside the value it gives to your home.
A good rule of thumb to follow is to invest ten percent of your home’s value in landscaping. Putting the ROI to a set number is tricky, as results can vary. Realtors advise doing your research on which landscaping will match your architectural style. While the return on your landscaping investment might be hard to quantify, it can mean the difference between a potential buyer just driving past or stopping to take a look.
Trees in your backyard also add value to your home. Unlike other additions which depreciate after installation, trees increase in value with time. The size of the trees you plant will depend on the time you want to keep your property. If you plan to keep your home for many years it would be better to plant younger trees. Plant larger trees if you intend to sell in a few years.
Build Outdoor Areas
With the ongoing pandemic, demand has surged for homes away from crowded city centers, resulting in a renewed interest in the suburbs. Houses that come with outdoor spaces, in particular, are selling faster.
An outdoor area for dining or play areas for children can add value to your home and increase its chances of selling quicker. This can be a covered patio or deck. A backyard terrace is today’s best-selling improvement. Concrete or masonry surfaces should have a coat of cementitious waterproofing. This will prevent water from soaking into the concrete and damaging it. It will also give resistance to mold and mildew, driving down maintenance costs.
Add an outdoor kitchen equipped with grill, refrigerator, and sink. This will lift the image of your backyard to a higher grade. The bigger the size and fancier the brand the better. It would help your home to command a higher value in the market.
A place to relax or a sanctuary in your backyard will also add value to your home. You can have a place to sit and rest in comfort. Enhanced it with a fountain, a hot tub, or a small pond. A relaxing place will make your backyard more attractive to the potential buyer.
Adding A Pool: Is it Worth the Investment?
Your mileage will vary on this one. A swimming pool addition to your backyard can be the ultimate addition, or it can be seen as an additional cost for a potential homeowner. Real estate agents place the value added to a home by a swimming pool at 7% at most, so it can be a risk. It would not be so attractive in winter and in summer you will need to do maintenance (check the chlorine, filters, etc). You will also have to consider fencing for safety. It will be a costly addition that can work for or against you if you want to sell. Ultimately, the decision to add a pool or not would depend on how much use your family has for it.