Adored Home Features with High ROI
While my expertise is in selling homes, not designing them, my clients often seek my advice when they are thinking about remodeling. After all, I am in a lot of homes, I see new trends as they come out, have years of clients telling me what they love or loathe in their current homes, and am told families' favorite must-have features daily. My advice to clients varies based on whether they are living in the home and plan to stay for a while or if they are an investor or hope to sell soon. Here are some adored home features that also have a high return on investment.
PAINT & WALLPAPER
This is the least expensive way to alter a home’s appearance. Lighter colors make a room feel larger. High gloss paints pick up and reflect natural light making rooms appear brighter. Bolder colors often convey significant mood changes while wallpaper, whether used as an accident or to adorn the entire room can make a variety of statements based on the pattern. Colors with cream, yellow, or pink undertones make a room feel warmer while stark whites, grays, and colors with blue undertones give a cooler feel.
STAYING: If you plan on living in your home for a while, make it yours! Show off your personality and enjoy your area, you can always paint it again years down the road when you are ready to sell. I have seen paint transform a room. One of the most memorable cases was a plain white dining room where the walls and ceiling were painted black with crisp white crown molding and wainscoting. It was a bold choice that I wouldn’t have made, but it resulted in the space look like it belonged in a $5M mansion. I saw the use of rock wallpaper and lighting combined to create a waterfall effect on an accent wall. However, the most fun example I can think of was paint and giant decals used to create an immersive under-the-sea theme in the basement that doubled as the children’s playroom.
SELLING: I’m going to be honest, unless a home had dirty walls or a very strong, off-putting color, back in 2020-2021 sellers didn’t need to paint. However, the market is different now and a fresh coat of paint can make the difference in a few thousand dollars more when it comes to a bidding war. If you are painting to rent or sell a property stick to light, neutral colors.
UPDATE YOUR HARDWARE
I once went to a broker’s open house of a large $3M home in a desired area. It had a beautifully updated kitchen, a stunning living room with large picturesque windows, and a backyard with an inground pool and hot tub that was highlighted by custom landscaping. However, as I toured the rest of the home, I drastically questioned the list price, since all of the door handles and cabinetry (outside of the kitchen) were white plastic and looked like they belonged on a kid’s bedroom set from the 80’s.
STAYING: While not an extremely large expense, depending on the size of your home and the cost of your taste, changing out hardware can add up. Hardware can include door handles and hinges, as well as handles on cabinets in the kitchen, bathrooms, and closets. If you like the hardware that’s there keep it, and save the expense. However, if you feel it looks dated, or parts are covered with paint making it look sloppy, replacing it, changes the look and feel of the entire room.
SELLING: Buyers tend to overestimate or underestimate a home’s value based on cosmetic items such as hardware. Hardware that is dated or not well kept subconsciously causes them to overestimate the cost of updates needed to the home. I have often seen clients look at a house with great bones and say the house needs 3x-5xs the amount in work (and that is calculating for a gut renovations of the kitchen and bathrooms) simply bc it has old hardware or the floors need to be refinished. Similarly, I have seen clients swoon over a gold cabinet handles ignoring the fact that the cabinets are misaligned and the kitchen itself has a noticeable slope. You don’t have to buy top-of-the-line hardware, but if it detracts from the house, replace it before listing. It will be well worth the cost.
REFINISH HARDWOOD FLOORS/LAY LAMENT
If you have hardwood floors that are in decent shape but could use some TLC, refinishing them will make the home look newer and better maintained. In many cases, hardwood or the look of hardwood (lament) makes the home look more expensive and is preferred by homeowners not only because it is currently in style, but it’s also easier to clean.
However, I will note some people prefer carpet. In multifamily homes, carpet is used for sound reduction. I have clients who prefer carpet in their bedrooms or any room that is over the garage because it keeps their feet from getting cold. Other times carpet is used it quick flips to hide uneven flooring that would be more obvious with lament.
STAYING: While not as easy as painting, or changing out hardware, refinishing hardwood or laying lamnet can be a DIY project if cost is an issue. It depends on your taste and the structure of your home. If you have beautiful floors that just need a little help, it seems silly not to put in the work or hire somebody to show them off. However, if you don’t have hardwood floors and dislike lament or simply just prefer carpet, it’s your house, you get to do whatever makes you happy.
SELLING: Most buyers prefer hardwood floors. Some will even decide to pass on a renovated home with lament floors. If you have carpet, especially if it’s older or not in the best condition, I typically suggest refinishing the floors or laying lament.
LANDSCAPPING
Landscaping is like a remodel. Basic landscaping makes a home visually appealing and can really alter the vibe of a home. Adding a few bushes or flowers spruces up the yard. However just like the stone you choose for your counter top can drastically alter the price of your remodel, adding large bushes, trees, landscape lighting, and/or pavers can quickly increase your bill. Most of the time landscaping more than pays for itself, but be mindful breathtaking yards are hard to do on a budget.
STAYING: Most towns have ordines stating that you need to maintain the exterior of your home. It is your responsibility to make sure the property is not a safety concern or eyesore. Laws vary by municipality, but they can include general items such as keeping grass below a certain height, ensuring shrubbery doesn’t protrude onto the sidewalk, and even dictate how much of your property must be covered by vegetation. Beyond that, it is your home, enjoy your outdoor space as you see fit. If you can afford it (or even better have the time and green thumb) by all means turn your yard into your own private oasis.
SELLING: You don’t have to go crazy, but make sure the yard is clean. Get rid of trash, clean up underbrush, trim any hanging branches, and cut the grass. If there are bare sections throw down grass see or sod a few weeks before putting it on the market.
Kitchens & Bathrooms
Kitchens and bathrooms are typically the two rooms that date a home the most and have the biggest finical impact on a property’s sale price. To have a contractor renovate an average $500k- $600k kitchen (replacing items, not redesigning the layout) it costs between $25k - $30k and full baths are about $15k each. Obviously if you pick top of the line materials the price will go up and if you are handy and can do it yourself you will save a ton of money.
STAYING: If you want a renovation and you can afford it, go for it, it’s as simple as that. If you need to stretch your budget there are a lot of DIY cosmetic solutions that can make the room more visually appealing while you svae up for your ideal design.
SELLING: Prior to Covid the only time I would recommend people redo their kitchens or baths is if they were doing a flip. Now, I tell them to get a quote and we run the numbers, basic renovations are actually paying off with the inventory shortage leading to extreme bidding wars.
Before you redo a kitchen or bathroom, make sure you have addressed all the other items on your list. If you haven’t painted, refinished your falls, updated your hardware and fixtures, and ensured your landscapping is appealing, redoing the kitchen and/or bathrooms is a waste of money. Buyers will look at the items and mention how they love the renovated rooms but comment how the house “needs a lot of work”.