Posted by Sharon Fennell Kennedy: Monday, February 26, 2024: St. Petersburg, FL: Pinellas CountyThe City of St. Petersburg has a landmarking program called the Local Register of Historic Places. It
Upgrades that add value when selling your home
Dated: February 12 2024
Posted by Sharon Fennell Kennedy: Monday, February 12, 2024: St. Petersburg, FL: Pinellas County
According to real estate experts, the value of a home can increase or decrease depending on any number of factors, including those homeowners cannot control such as the local housing market. There are, however, ways you can safeguard your home’s value with these tips from Bankrate.com (https://www.bankrate.com/mortgages/ways-to-increase-your-homes-value/)
Clean and declutter.
To help boost the value of your home, begin by decreasing the amount of stuff that’s inside it. Cleaning and decluttering are relatively inexpensive tasks, even in bigger homes. Professionally cleaning a four-bedroom home averages between $200 and $225, according to HomeAdvisor. Of course, you could save money by doing the work yourself. Start by going through cabinets and closets and making donation piles. Then clean out drawers and other storage areas, making sure you’re not keeping anything you don’t need or want.
Add usable square footage.
Homes are valued and priced by the livable square feet they contain, and the more livable square feet, the better. Adding a bathroom, a great room or another needed space to a home can increase function and add value. A separate in-law suite can also be a smart idea. The cost of an addition varies, but typically ranges from about $22,200 to $81,800, according to HomeAdvisor, with an average cost of $50,305.
Make your home more energy efficient.
Projects that lower utility bills can increase the value of your home. Installing a smart thermostat, for example, helps improve efficiency and save money. It can cost between $175 to $1,000 to make this quick upgrade, according to HomeAdvisor, or an average of about $350. Other ways to improve your home’s efficiency and value include replacing old, leaky windows, installing energy-efficient home appliances and adding insulation to your home.
Spruce it up with fresh paint.
A fresh coat of paint can make even dated exteriors and interiors look fresh and new. The cost of an interior painting project ranges between roughly $970 and $3,000, with a national average of $1,988, according to HomeAdvisor. Your exact painting budget will depend on room size. HomeAdvisor pegs painting a bathroom — usually the smallest room in the house — somewhere between $150 and $300, while a 330-square-foot living room might cost as much as $2,000.An exterior paint job, on the other hand, will cost much more, with prices ranging from $1,810 to $4,505 (the national average is just over $3,000). If you just want to repaint a door or a single room, doing it yourself could cost you between $200 and $300.
Work on your curb appeal.
From power washing your driveway to mowing the lawn, improving curb appeal can make a big difference in your home’s value.
Upgrade your exterior doors.
In the vein of curb appeal, replacing an old front door can work wonders. And don’t forget the garage doors.
Give your kitchen an updated look.
Many buyers zero in on the kitchen as the central feature of a home, so if yours is outdated, it can ultimately affect how much you garner from a sale. Likewise, if you can’t utilize your kitchen fully due to layout, space, or other concerns, you won’t be maximizing the space. If updating your entire kitchen is too big of an undertaking, a minor remodel could still have an impact on your home’s value — think coordinating appliances and installing modern hardware on your cabinets. Talk with a real estate agent about what makes the most sense and what will command the most dollars from prospective buyers.
Stage your home.
If you’re planning to list your home for sale, consider skipping cosmetic home improvements and go with a home staging service instead. Staging costs about $1,800 on average, according to HomeAdvisor, but the cost varies based on your needs and home. Staging services range widely, from decluttering and depersonalization (for example, removing family photos or specific decor) to bringing in rented furnishings and repainting. Simply put, the more work involved to stage it, the more expensive the production will be. A real estate agent can help you determine which staging services would make the most impact on your home’s value.
Bottom Line: Your home is likely to be your largest asset. Finding ways to keep its value or add value increases your net worth and opt for the projects that have the best potential to attract qualified buyers.
Related Reading: What Do Home Buyers Want? | realtor.com® The Rise of the Home Office: How Remote Work Affects Home Buyers Home Office Life: Making a Space to Work at Home, by Lisa Kanarek
About the author: Sharon Fennell Kennedy is a real estate blogger for The Mesimer Team – REMAX/Metro in St. Petersburg, FL and grant writer specializing in non-profits. She enjoys antiquing and repurposing flea market finds, yoga, walking and reading. You can connect with Sharon on www.Estelia.com or www.sharon-kennedy.com
St. Petersburg Communities
Photo Courtesy of Historic Kenwood Neighborhood | Captured during Historic Ken… | Flickr St. Petersburg, FL: Pinellas County
Greater Pinellas Point
Historic Old Northeast
Historic Roser Park
Isla del Sol
If you’re interested in any of these of communities or live in one and are thinking of selling, talk to The Mesimer Team.
Estelia is the epitome of hard work, high energy and integrity. She is a native of Colombia (SA), where she attended The Center for Engineering and Architecture in Cali and obtained a degree in Archit....