Projects To Boost Your Home’s Value (SmartMoney magazine)
- The Front Yard – Curb appeal can make or break a sale and reduce the price you get for your home. Buyers who are house-shopping will drive by if your front yard isn’t appealing and go on to the next one. Say no to splashy stuff like fish-stocked ponds and fountains, which can cost a bundle and scare off buyers. Say yes to a pleasant mixture of green lawn, detailed landscaping, winding pathways and tasteful archways. Opt for the flowers and bushes that work best in your climate. Don’t go overboard on furniture. One well-placed garden bench is about all you’ll need for the front of the house.
- The Entryway – Think of it as the second stage of curb appeal. After buyers walk through your beautifully landscaped front yard, the next thing they encounter is the entryway. Run down laminate flooring won’t get the job done. Ceramic, wood or stone are excellent choices. You don’t have to overhaul floors throughout the home, just the foyer that people first see when they walk in and perhaps one adjoining room. Floors are 25 percent of the surface area of the home, so they’re very important. Make sure an expert installs the flooring to get the maximum benefit. Be sure to keep them clean and polished.
- The High-Tech Home Office – Everyone’s got some need for a home office these days. It doesn’t have to be pricey either. Install CAT-5 wiring for internet and cable hookups. Put in custom desks, cabinetry and additional phone lines. You probably don’t need the plasma-screen monitors or a video-gaming setup. These days 64 percent of potential buyers see a home office as desirable or essential. Be sure to position workstations to minimize glare. Don’t build an addition, which is less likely to increase resale benefits. It’s best to simply transform unused space.
- Media Room – The living room is dying. At least 40 percent of buyers don’t care if their potential home has one. Many people would rather have an electronic play land where the TV, stereo and video game equipment are used. Much of what you put into it you’ll take with you. Don’t blow a lot of money on custom features; focus instead on the stuff that will stay, like good acoustics, lighting and comfort. Be sure to watch your costs. It’s easy to let them spiral out of control if you use top-of-the-line equipment. Don’t go for actual theater-style seating, which is cute, but usually not as comfortable as the good old leather couch.
- All-Granite Kitchen – Granite countertops are gaining popularity fast and are included in most new homes as standard or an upgrade. The good news is that it’s getting cheaper because more firms are offering it. Don’t feel the need to have granite everywhere. Other materials could be used for floors and backsplashes. Be sure the color doesn’t clash with the kitchen’s overall scheme. Don’t forget that different types of granite are on the market and the more-porous stone isn’t ideal for spills and cleanups.
- Oversize Shower – For years the idea of luxury was a jetted tub in the master bathoom. Spend your money on something people actually use; the oversized luxury shower. Go for 4’x6’ or even bigger. The enclosure is thick frameless glass; the tiling is marble, high-end ceramics or slabs of gorgeous stone. You may opt for installing multiple showerheads and sprays. A recent survey found that 77 percent of potential buyers see a separate shower enclosure as a desirable or must-have element of any home. Be sure to put in bench seating if you have the space, which is appealing to older homebuyers. Don’t forget about ventilation, so that moisture doesn’t get trapped and lead to water damage.