Whether you are planning on selling your home this summer or just looking to add value to your home long-term, these fairly simple home updates may be the answer. Some of these don’t have an exact number of ROI but in our Utah real estate experience, they have contributed to the home selling faster and for a higher price.
Plant a tree
If you are thinking that you may sell your home within the next five to ten years, plant a shade tree (or several) now. According to this article from HGTV, nationwide studies have found that mature trees can increase a home’s value by 7-19% and buyers are looking for large trees and yard privacy when searching for the perfect home.
Some neighborhoods in Utah have strict regulations on the types of trees that can be planted in yards and some areas of Utah work better than others for certain types of outdoor plants (think Sugar House vs Saint George). We recommend speaking with your HOA (if you have one) about what trees can be planted and working with a local arborist to determine which shade trees will flourish in your yard.
Explore a new paint color
Citing “The Profit of Color,” a study conducted by the Color Marketing Group, an international association for color design professionals, color is the reason up to 85% of shoppers purchase a product. The right color can be comforting and calming in a bedroom while the perfect color in another room can highlight a room’s amazing features. We recommend reviewing sites like Pinterest (our favorite for home trends) or hiring an interior design consultant (we can recommend a few in Utah) for an hour to see what wall colors and designs might take your home to another level.
Update the kitchen
The kitchen is the most important room in a household and often the focal point for functional living. When it feels outdated or has beat up cabinets, it can impact the ability to sell the home for the best price possible. The 2017 Cost vs Value report from Remodeling states that a major kitchen remodel can recoup nearly 50% of the costs it took to remodel but even smaller updates like replacing the cabinets, adding a backsplash, or getting new hardware can make a big impact and show a return on your investment.
Replace worn carpets
Stained or worn down carpets can be quite unappealing to a Utah home buyer but we do not recommend adding all-new carpet throughout the home. Carpet can be expensive to install and new carpet is not a selling point that adds to the value. Instead, consider only replacing the worn-down carpeted or stained rooms/areas. Or think about the option of tile or laminate floors. Our many years in the Utah housing industry have shown us that homes with wood or laminate floors often are sold at a higher value than fully carpeted homes.
Hire an Inspector
Whether you are planning on selling now or at some point in the future, hiring a certified home inspector to perform annual checkups, can contribute to your home’s value. Having annual inspections helps you maintain the home and catch (and resolve) any issues before they become too large (ie: expensive). Having this record of inspections also shows serious home buyers that you’ve maintained the home to the highest standard over the years.
If you are looking to sell right away, hire an inspector to help determine any issues the home may have. You can then consider making those fixes or reducing the price of the home accordingly.
Making these simple updates can add value to your home now and in the future. If you’d like recommendations for interior design consultants, home inspectors, contractors or arborists, contact us to help connect you with the best Utah real estate professionals.