When it comes to buying and selling real estate, the value of your home goes a long way in determining your success. Keeping your home well-maintained and updated increases the value and ensures the structure and property are not damaged. Neglecting repairs and regular maintenance has the potential to cause damage to the property’s structure, which will decrease the value and increase the cost of repairs later. Performing routine maintenance and repairs will raise the overall property value and lower the costs of future repairs. It will also improve the aesthetic appeal and help prevent potentially dangerous situations. Regular maintenance is not the only thing that provides value to your home; things like curb appeal, renovations, and simple upgrades make a huge difference.
If you own Frontenac real estate, you’ll want to consider how your home stands up among others like it. The Benes Group has gathered information on why maintaining your home is essential and how to increase your home’s value.
Keep the interior maintained
There are several ways to maintain and update the interior of your home, whether you’re looking for something minor or more significant. These include upgrading fixtures and appliances, replacing windows, and flooring, minor upgrades to kitchens and bathrooms, and complete renovations.
Mid-range bathroom and kitchen updates will offer a great return on investment without costing too much upfront. These rooms are significant to homes and can date the house, causing it to lose value. If you’re not ready to do a complete overhaul, updating certain aspects, like countertops, tiles, and backsplash, will go a long way in making the home appear updated and appealing. If you intend to sell the home, make sure to go with neutral colors that will appeal to a broader audience.
Another excellent way to update your home and increase its value is to add livable space. That doesn’t necessarily mean adding to the existing structure but could simply involve completing a basement or attic room. Anything that creates usable square footage will make your home more appealing and profitable. One of the most important things you can do is with the exterior, and that’s curb appeal.
Don’t neglect the curb appeal
Your home's curb appeal is critical, especially when it’s time to sell. A home with less-than-desirable landscaping, chipped paint, or broken sidewalks and driveways will turn off potential buyers and cost money. Keeping to your lawn and garden maintenance schedule will not only increase the value of your property but make it easier to keep up. But what is curb appeal?
Curb appeal is defined by how attractive your home and property are on the outside. This includes everything from trees and shrubs to patios and walkways and the house's exterior. When selling your home, a welcoming exterior makes all the difference because it draws a buyer’s interest. The more appealing and welcoming your home is, the more likely you’ll get a higher offer quicker. Freshly paved walkways and patios, power-washed driveways, strategically placed gazebos, potted plants, and colors all help to create a visually appealing curb appeal for potential buyers.
If your curb appeal is less than stellar, there are several ways to update it, so it’s easier to maintain and more appealing to everyone. Start with basic landscaping cleanup, including mowing the lawn and trimming hedges, fresh mulch, and flowers. Have the gutters cleaned, loose branches removed from the area, and any leaves disposed of before moving on.
If you have beautiful landscaping, you can add a new garden design or water feature to create depth and an interesting element. If your home needs a fresh coat of paint, hire a company to ensure everything is fresh and clean. The same can be said for your patios and driveways. If necessary, have any loose cement or stones repaired and clean everything thoroughly.
Ensure curb appeal is carried from the front yard to the backyard so everything ties together neatly. If you have a deck that needs updating, try fresh paint or stain, or upgrade entirely using composite decking. That track of grass going from your back deck to the front walkway that’s seen better days? Upgrade it by paving it with stones to create a new and fresh appearance. Several minor details can be added and addressed throughout the home’s exterior to keep it updated and well-maintained.
The exterior of your home is more than the added value, though. It showcases a sense of pride in your home that one cannot put a price on. Whether you’re tackling these tasks on your own, investing time and energy into the projects, or hiring a company, it shows an investment that holds more value than profit. It will also create a warm and welcoming ambiance that everyone benefits from, especially you. Every time you come home and pull into the driveway, you’ll enjoy the results of that hard work. If you’re staying in your home for years to come, this overhaul will help keep maintenance at a minimum. If you choose to sell, it will quickly catch the eye of potential buyers and increase the home’s overall value.
How much should you spend on maintenance?
This will vary on a house-by-house basis and even year-by-year. Many routine tasks like cleaning gutters and replacing the furnace can increase the cost for that year, but not the following. If your home needs a significant upgrade, like a new roof, that could be upwards of $8,000 for that year. On average, according to a survey by the United States Census Bureau, the average cost of upkeep is around $4,400. Most credit institutions agree that you should spend roughly 1% to 3% of the initial home price, so set aside money each year for recurring maintenance.
Looking to sell in Frontenac?
A well-maintained and updated home will benefit you in the long run and appeal more to you as the owner. The true value doesn’t simply lie in the profits but in the pride that’s felt. If you’re ready to look at homes for sale in Frontenac, contact The Benes Group.
