Renovations can often be thought of as things we might do to make
our own living space or land more comfortable or livable. However, renovations also make our property's resale
value higher. While there are some personal touch things you might like to do to
your property, there are a few universal renovations that have spiked home
value and stood the test of time to get you the biggest return on your
investment. Especially in this market, any project or renovation to contribute
to the elevated prices will give your property an advantage over others.
Painting
A fresh coat of paint can go a long way. Painting the exterior and
interior can give a space a new and updated look that is attractive to buyers.
This is a minor renovation that will pay off when it comes time to sell.
Landscaping & Curb Appeal
Simple yet, incredibly important. Landscaping can completely change the overall look and feel of the curb appeal of your home. The first impression of your property is often the most important thing when considering value and selling, and some simple landscaping changes can elevate the overall view of your home. More simple projects like adding a front plant bed to your home can increase the value exponentially. Even bigger investment projects like planting a larger tree can immediately add dollars to your selling price. Take a look around the outside of your property and think about things you would personally pay more for had they been there when you bought it.
Curb appeal doesn’t simply just apply to homes. Improving
your land’s appearance is an excellent way to increase its value. This includes
removing any junk on the property, clearing inconvenient overgrowth brush and
weeds, adding fencing, planting or cutting down trees etc.
Front Entry
Keeping with the outside theme for a moment, your front entry is
the first point of contact with your home that guests and buyers will make,
which means if you renovate, that investment will be worth it. Depending on the
current state of the front entry, this can mean a little bit of thoughtful
landscaping and painting the door, maybe a door replacement, or anything that
makes the front entry experience feel luxurious.
Flooring
Adding new flooring is a great way to increase your home’s value.
New floors give your home an updated and modern look that buyers love. When it
comes to the type of flooring, hardwood is what most homebuyers look for. In
fact, according to the National Association of Realtors, over 50% of homebuyers
will pay more for hardwood flooring.
Adding Livable Square Feet
Adding livable square feet to your property, no matter the size,
can add value instantly. In fact, adding square feet to your property can be
one of the only ways to guarantee a return on your money. It’s one of the only
statistics about your home and land that can't be negotiated is the fact that
there is a price per square foot. If you can build with a budget in mind so as
not to exceed what your price per square foot would be, you will be able to see
an immediate return on the price value of your home.
Deck Addition
Especially on houses with property, adding a deck or all-season porch can be very lucrative for the value of your home and property. Providing any kind of outdoor area to enjoy the land is a really smart renovation for both potential buyers and simply the enjoyment of your property.
Work
With AltaTerra Realty & Auction
With decades of experience, our team at AltaTerra Realty and Auction, LLC has been helping people buy and sell real estate throughout Texas, Oklahoma, and Arkansas.
Collectively, we operate as an agent of the American Dream,
helping people realize an ambition as old as America itself… love of the land
and property ownership. We are real people making real deals that make a
difference.
If you're looking
to sell your land, AltaTerra Realty & Auction LLC can help. Contact
us today to learn more!