In many parts of the country, spring fever starts to set in during February – and Southern Maryland is no exception. It’s no wives’ tale, either, says Sanford Auerbach, M.D., director of the Sleep Disorders Center at Boston University, told Web MD. That urge to spend time outdoors and the increase in energy you feel can be chalked up to chemical and hormonal changes that happen within us when the sun begins to reappear.
If 2017 is the year you plan to sell your Southern Maryland home, channel that spring fever energy into transforming the exterior of your home. We can help you do just that, with these suggestions from Remodeling Magazine’s 2017 Cost vs. Value report.
Cost vs. Value
You might be surprised to learn that although bathroom and kitchen renovations offer the best return on your remodeling dollars, there are several exterior projects that bring similar returns – but cost less?
For example, replacing the garage door will cost about $1,700, according to Remodeling’s report. The return on your investment when you sell, though, is almost 77 percent. The ROI on a kitchen upgrade? About 65 percent.
Of course, if your kitchen is in such bad shape that buyers will be turned off, by all means, make updating the kitchen a priority! But, all else being equal, you’ll spend less and get higher returns with several exterior projects.
Ah, alfresco dining
Spring and summer are the perfect seasons for dining and cocktailing outdoors on patios and decks. If you’re selling in either season, your Southern Maryland home will be far more attractive if the stage is set for enjoying the outdoors.
Consider adding a deck if your home doesn’t have one. According to Remodeling Magazine’s study, the cost of a composite deck varies, but the nationwide average is $17,000 – with a ROI of just a bit more than 65 percent. You can save money and get a higher return, however, by installing a wood deck. At an average cost of $10,707, the ROI is 71.5 percent.
Southern Maryland homebuyers love decks for a number of reasons. The additional “point of egress from the home to the yard” tends to add value, says DB Design Builders in Maryland. Mostly, though, decks are an entertaining space, which have been in high demand over the last decade.
Curb appeal projects
It’s a well-known fact: If the exterior of your home doesn’t beckon to buyers, they won’t bother to check out the interior. Use some of that spring fever energy to good use by amping up the appeal of your home’s exterior.
Consider replacing your siding. This will give buyers peace of mind, and the improvement to your home’s curb appeal is immeasurable. Nationwide, new siding costs about $14,500. When you close, though, you stand to recoup about 76 percent of your investment.
What exterior improvement has the highest return on investment? Replacing the front door with one made of steel. At an average cost of $1,400, the ROI is nearly 91 percent.
For the budget minded
If you don’t have $10,000 to spend on a new deck, there are some exterior home improvement projects you can do that not only cost less, but offer a healthy ROI. Remodeling’s study doesn’t mention the value of landscaping.
There are many studies of everything from how much value a single tree can add to your home (see the National Arbor Day Foundation’s National Tree Benefit Calculator) to the ROI of a complete landscape makeover. Landscaping that is merely “good” may add up to 28 percent to the overall value of your home, John Harris, landscape economist tells houselogic.com. Transform your landscaping to “excellent,” however, and you’re looking at an additional 6 to 7 percent on top of that.
The landscaping offers your home’s first impression, so it only makes sense that making it more appealing to potential buyers should be job one.
The report from Remodeling Magazine is broken down into mid-range and high-range projects, so your mileage on the numbers mentioned here may vary. The addition of a composite deck on a high-end home, for example, might be a waste of money. With a cost of nearly $40,000, you will see a paltry 56.4 percent return on the money invested.
And while decks are popular, backyard patios may be a waste of your money. The mid-range cost, nationwide, for a 20×20 flagstone patio is $51,985, and the ROI is less than 55 percent.
As the seasons change, use your pent-up energy after a long winter on the exterior of your home. You won’t regret it when it is time to sell!
Waldorf MD Homes for Sale and Real Estate Services in Southern Maryland. You now have a search engine to help you with your Southern Maryland home search! And I’m ready to provide you with a custom home valuation if you’re considering selling your home. Let’s connect to discuss how I can help you. Contact Kimberly Bean at 301-440-1309
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