Use this first tuesday FARM Letter in your marketing. To request a FARM letter topic, or to see a list of all our FARM letter templates, visit our FARM Letter page.
To make your renovation dollars go farther, here’s what appraisal experts say is worth it — and what isn’t:
- Kitchen remodel | The kitchen is the core of your home’s value. Investing in upgrades to appliances, surfaces, storage, finish and details can give the whole home a new feel. Take the extra step to create an open floor plan for maximum return.
- Bathroom upgrade | Freshen up fixtures, tile and lighting to transform a dingy, dated bathroom and impress potential buyers. The less they feel they’ll have to do themselves, the more your home is worth.
- Wood flooring | Hardwood floors are here to stay, with a timeless, versatile look that can read both luxe and rustic. High-quality laminate achieves similar results for less money.
- Energy efficiency | Green is the color this season — in more ways than one. Upgrading your home to energy-efficient lighting, insulation, windows and appliances appeals to buyers’ senses of civic duty, and to their pocketbooks in terms of long-term savings.
- Ditch the pool | Swimming pools are great fun — with an enormous price tag, and costly maintenance to boot. The best reason to build a pool is your personal enjoyment; don’t bank on it bringing home value returns.
- Forget the fancy office | Showcasing your home’s flexibility is a smart move, but beware the permanent conversion with expensive built-ins. Buyer’s won’t relish the thought of un-renovating that deluxe office or yoga studio.
- Scrap the carpet | Don’t bother with upgrading floors if you plan to lay down carpet. Not only do a dwindling number of buyers want it (remember, hardwood is all the rage), but you’re far less likely to see an appreciation in home value from new carpeting.
- Standalone bathroom addition | An extra bathroom sounds like a great selling point, but beware. Adding a single bathroom is enormously expensive (you save when it’s part of a larger addition), which you’re unlikely to recoup from increased value.
Everyone’s home is different. Are you wondering how your improvements stack up in today’s market? Call me today for a free home value estimate!