By Gary Frueholz, Engel & Voelkers Real Estate
There are cost-effective ways to enhance and update your home. Typically, I encounter these issues when helping prepare a client’s home for sale. But these improvements can be performed anytime to increase the livability and enjoyment of your home.
Realtors love analyzing the return on investment from remodeling projects when a seller prepares to list their home for sale. These studies do not give consistent results on the return experienced from remodeling projects. My experience on this subject leads me to three basic areas that do consistently yield a positive cash return. These areas are painting, flooring, and landscaping. This is not to say that any project in these areas will produce measurable gains or enjoyment, but a thoughtful approach can generally bring satisfying results.
Painting the exterior of a home can often cost between $7,500 and $10,000. Various realtor studies demonstrated that the increase in value appeared to be roughly one-and-a half to twice the cost of painting. Painting interior rooms is one of the fastest ways to give your home a makeover. Whether you are selling or just remodeling your home, this project is quite visual and reminds you constantly of the improvement to your home. New interior paint has another subtle effect; it produces a fresh, clean aroma in the home. The improvement not only plays to your visual sense, but also to your sense of smell.
Many of the homes in Alhambra have hardwood flooring. These hardwood floors are often covered with carpet and owners forget or are never aware of the potential for beautiful hardwood flooring available to them. The National Association of Realtors reported from a study conducted in 2022 that refinishing a hardwood floor increases the sale price of a home by nearly twice the cost of the project. Also, the study concluded that 54 percent of home buyers are willing to pay more for a home with finished hardwood floors.
One of the most basic and obvious ways to add value to your home to prepare for a sale is to water and mow the lawn and trim the bushes. Front lawns have a powerful impact on “curb appeal” and are one of the first impressions a buyer forms on a home. Always try to have your lawn as nice as other lawns on the street. Not addressing the appearance of your landscaping is like leaving money on the table. A well-kept front yard leads to more relaxation for owners and can be a playground for children.
Installing an automatic irrigation system is an efficient and time-saving way to accomplish lawn care. Setting watering times for later in the evening is an effective way to avoid rapid daytime evaporation and also lower water bills. Planting trees can significantly increase value too, but trees take time to grow and are not a short-term fix. Also, make sure to avoid planting trees adjacent to sewer lines.
Another one of a buyer’s first impressions of a home is the walkway to the front door. It becomes a lead-in line to the property and directs the eye to the front entrance. Walkways set the ambiance for a home. Planting flowers and installing lighting along the walkway are ways to add value and character to your home. Also, painting and refinishing a front door continues this theme of improving first impressions of a home.
Kitchen renovations are not as clear cut as painting, flooring, and landscaping for increasing the value of a home for sale. Kitchens have become a signature room for owners, so improvements made to a kitchen may not appeal to new owners who have a different vision for their homes. Changing fixtures such as faucets and cabinet doors, along with replacing lighting and some appliances are ways to improve a kitchen’s appearance and functionality without doing a complete remodel.
Complete bathroom remodels can be expensive, but installing a pre-made bathroom vanity or shower is a less expensive approach to increasing bathroom desirability. People desire a clean bathroom, so homes for sale need to address bathroom appeal.
These economic projects can bring a fresh look and feel to a home. Whether a homeowner is selling or wanting to improve their home’s livability, there are cost effective ways to accomplish this objective.
Gary Frueholz is a realtor with Engel & Volkers Real Estate, a past member of the Alhambra Planning Commission, a Certified Senior Real Estate Specialist, Certified International Property Specialist, and can be reached at 626-318-9436. See his stories at www.garysstories.com.
