Hey Vern,
I work in IT remotely here in Schuylkill and my annual bonus this year is just over $15k. My wife and I have been thinking about how we want to spend it.
Reflecting on the past two years, we think it’s time for a change. We love our current home- it’s the first home we bought together, where we’ve raised our three kids- but we know we need to upgrade to a house with more room. We agreed we’d like to think about selling.
There are improvements that need to be made to the house, and I want to put this money towards them.
What improvement has the biggest return? How do I increase home value? This is a new territory for our family and your advice is appreciated.
Thanks,
Cody from Tamaqua PA
Home Improvements With the Best Return
Cody, congratulations on the bonus and the decision to make a home move. Placing your home on the market is a big decision. I’m glad to hear you’re thinking ahead about how to get the most from your investment.
Often, homeowners start with interior changes. They renovate the master bathroom or finish the basement. But whenever I’m asked this I recommend focusing on your exterior first to boost your curb appeal and take care of the “big” things the next homeowner doesn’t want to think about.
Let’s take a minute to talk about the importance of curb appeal.
Coined in 1975, the term originally referred to the way buyers chose which homes to tour. But that was before the internet. Now, 89% of people research a home on Zillow before scheduling a showing.
Even so, the first picture of your home listed on Zillow? The street view.
If you’ve got the bright red “for sale” sign in your front lawn, passersby are taking note of your home. An updated exterior is a great way to get noticed.
And it’s not the only reason curb appeal matters. Did you know great curb appeal can increase perceived home value by up to 11%?
Your curb appeal is your home’s first impression. It’s also one of the most important steps in the selling process. People are visual and an exterior improvement is the best way to connect with potential buyers.
Not sure where to start? Here are three things homebuyers love when shopping for a new home.
#1. Your Biggest Asset: A New Roof
Did you know a new roof can have a return on investment as high as 68%?
It’s true! A new roof is a big project, but well worth it. It’s one of the first things I suggest to homeowners looking to sell.
The huge ROI isn’t the only reason to replace your roof before selling. Here are some other benefits:
- A new roof will get you a higher appraisal
- Homes with new roofs spend less time on the market
- Many home insurance companies offer a discount on homes with new roofs
The next question:
What Kind of Roof Should You Install?
Often when asked about roof materials, I recommend a metal roof. They’re resilient, durable, and very popular. But metal roofs are a better fit for your “forever” home than one you’re looking to sell next season.
With your goals I recommend asphalt shingles. They’re the most popular material in America, have a quick installation, budget friendly price, and stylish look. The average cost ($22k) is outside of your $15k bonus budget but when you factor in the 68% ROI, you’ll make an estimated $15,247 back when selling.
Recently, we published an article about asphalt shingle roofs on a budget. 3-tab shingles might be just what you’re looking for. If you’d like to learn more about 3-tab shingles, and other affordable roof options, you can read about it here.
When looking for a ‘budget’ option, it usually means compromising quality. But when you work with us, that’s never the case.
We proudly work with GAF to provide the highest quality materials for your new roof installation. GAF roofs are built with durability at the forefront, and will protect your family for the next five years, and continue to protect after you’ve sold your home.
All of GAF’s roofs come with a lifetime warranty- which carries over when you sell. With this improvement, you’re boosting curb appeal and creating an asset for future homeowners.
#2. Shine a Light on Your Listing
Did you know often realtors will suggest painting your ceiling a shade lighter than the walls?
It’s true- and it’s done to make the ceiling height seem higher than it is.
Your wife might already be talking about how to ‘set the stage’ for potential buyers. And your realtor will work with you to create a space that connects with families walking through.
I’ll let you in on another realtor trick: Brighter spaces- and natural light- makes every space feel bigger. Our eyes perceive light colors differently than dark. Light colors are more reflective and make a space feel larger than it actually is. Dark colors absorb light and make a space feel small.
Natural light is one of your biggest assets when selling. Here’s an example of the difference natural light makes on a space. Look at this living room before the home improvement began:
And after:
It doesn’t even look like the same home!
Other than some decor and a new paint job, the biggest change to the space is the windows. Instead of the small and awkward window, these homeowners opted to open the entire space up with a new bay window.
And aesthetics isn’t the only point in favor of this improvement. Here are some practical reasons in favor of considering new windows before you sell your home:
- Energy Efficient Windows can save up to $785 a year on energy bills.
- Natural light helps fight off winter blues
- Windows offers one of the highest return on investments (estimated 85%!)
Choosing the Perfect Windows
One of my favorite things about a new window installation is the customization. Our supplier, Simonton, offers a large range of windows, each built with durability and quality at the forefront.
A great example of Simonton’s skill and creativity is the garden window insert:
Garden window inserts let in natural light, and create the perfect space for an in-home garden. They’re a beautiful design, and offer a creative twist on a standard window.
Picture windows are another great style to consider:
This style of window is also referred to as fixed windows. They don’t open and shut like standard windows. Because of this, they’re best installed in the living room or kitchen. The large windows are perfect for letting in light and increasing space on a budget.
With so many styles to choose from, it can seem overwhelming. But when you work with our team, we help you find the right design and sizing for your space.
#3. Spruce Up Your Siding
The adage “first impressions last” is more than an old saying- it’s science. Did you know your brain makes a decision within the first ten seconds of viewing something?
So if your home’s siding is:
- Layered in algae
- Chipped
- Discolored
A potential buyer only needs a passing glance to strike it off their list.
Your siding takes up the biggest visual area of your home. If it’s not in good shape, you’re missing out on showings and hurting your chances of selling at your full value.
Check out this home before and after adding new siding:
The old siding dates the house. However, the new improvement offers a fresh look (and you can’t go wrong with 2021’s color of the year- earthy green.)
When to Refresh… and When to Replace
Does your siding look dated and discolored? The good news is it might just need a quick refresh. Let’s take a quick moment to talk about safe DIY siding fixes.
If your siding is growing algae, don’t panic!
Instead, grab a bucket of warm water, bleach, and a brush. You’re ready to start scrubbing. It’s really that easy.
Noticed tougher stains? Never try to power wash your siding. It’s incredibly easy to damage siding this way. Instead, call a professional for the job.
Noticed your paint is discolored or chipped? Often homeowners will try and repaint the siding by themselves. Here’s why you should say no to this DIY project:
- Painting siding can null your warranty
- If not careful, you can hurt the way your siding functions
- If it looks worn, it probably is.
Maybe your siding just needs a good clean. But if it’s 20+ years, replacing it might be the best home improvement for your annual bonus.
Replacing your vinyl siding has a 68.3% return on investment. Standard siding replacement costs an average of $14-16k, keeping you right in budget.
A Home That Sells
Moving out of your starter home is a big shift and it’s good that you’re thinking ahead. It sounds like you’re blessed with a strong support system in your wife and family. You know you aren’t embarking on this new chapter of your life alone.
If you’re ready to start on an exterior home improvement- we’re here for you. From start to finish, we offer the support you need.
If you’d like to talk more, give me a call at 570-345-0436.
Until next time,
Vern Martin
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