Home Appraisal

A home appraisal, your house’s report card, is crucial, especially for those utilizing a VA loan. Appraisers evaluate various factors, including your home’s size, condition, features, and recent sales of comparable properties in your area. If you have plans to buy or sell this winter or spring, here are 6 Home Improvement Projects to help increase your appraisal value:

Home Improvement Projects

  • Curb Appeal Magic: Investing in your home’s exterior can yield a return of 5-10%. A well-landscaped and inviting front yard sets a positive tone for the entire property.
  • Kitchen Makeover: Kitchens are a hot spot for value increase. Depending on the extent of the remodel, you could see returns of 5-15%. Quality appliances, modern features, and a fresh look can make a significant impact.
  • Energy-efficient Upgrades: While the upfront cost may vary, energy-efficient upgrades often provide a return of 1-3% on your home’s value. Plus, they appeal to eco-conscious buyers.
  • Extra Bathroom Bliss: Adding a bathroom can bring returns of 5-20%, depending on the size and quality of the addition. Updated and functional bathrooms are a big selling point for families.
  • Flooring Facelift: The type of flooring matters! Real hardwood flooring can add prestige and may increase the appraisal value more than alternatives. However, high-quality Luxury Vinyl Plank (LVP) can also positively impact value, providing a durable and cost-effective option.
  • Gutters:  Installing gutters can indeed positively influence the appraisal value of your home as appraisers often appreciate homes that are well-equipped to handle water drainage, reducing the risk of potential issues.  While gutters may not have as direct and visible an impact as, say, a kitchen remodel, they are considered part of the overall maintenance and functionality of a home.
  • BONUS because EVERYONE is curious!
  • Pool Paradise: Pools can bring a 5-8% increase in home value, especially in warmer regions. Ensure it aligns with your local market and climate but the main lesson is build a pool because YOU want one!

Maintenance Matters

Above ALL else, let’s remember that maintenance matters: While it’s challenging to quantify, regular maintenance can prevent a decrease in value. Neglecting small repairs can compound into more significant issues, affecting your home’s overall worth.

Disclaimer:  While these are general estimates, actual returns can vary based on factors like location and the local real estate market. 😊

Be sure to understand…

…that in the end, if you’re thinking of buying or selling a house soon, you need to picture the home like a smart investment, a bit like a stock you’re putting money into. When you upgrade with projects like a renovated kitchen, a beautiful backyard pool, or sleek gutters, you’re not just improving the space – you’re aiming to increase the value of your investment.

Takeaways to Consider

The big takeaway from all of this is when it’s time to sell, don’t expect to cash out every dollar you throw into your home. Not everyone values the same features as much as you do so plan your improvements accordingly.  You want to appeal to as many people as possible because you want as many interested buyers as possible! 

So, be realistic with projects. Focus on projects that make your space enjoyable for you. If they also add value for future owners, awesome! Just know the return might not be an exact match for your investment, and that’s fine.

The key is to make your home a place you love, with added bonuses for future owners. If you have more questions or need advice as you navigate this home improvement journey, we’ve got your back! πŸ˜ŠπŸ‘πŸš€

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