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If you’re looking to increase the value of your home, either to sell it soon or to simply start building its value for a later date, you may wonder which types of upgrades will add the most value, indoors or outdoors? The short answer is that it depends, according to experts, but here are some tips to think about for either option:
The pandemic changed all of our lives in many ways, and that may play a role in the importance of outdoor home upgrades, says Gary Grewal, financial planner and author of Financial Fives. “With so many working from home and the pandemic pushing people outdoors, many people have grown accustomed to dining, exercising, working and entertaining outdoors. Backyards are becoming the new centers of attention for homeowners.”
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First impressions definitely matter when prospective buyers or appraisers are coming to look at your home. “Curb appeal goes a long way and should in no way be ignored when looking to upgrade your home for resale,” says Betsy Moyer, co-founder, creative director and lead designer of Retreat Design.
Focus on Small Upgrades
However, the upgrades that will add value to your home can be very specific to the local market, says Michele Harrington, chief operating officer of First Team Real Estate. “If you’re ready to sell in the immediate future, any large-scale upgrades, inside or out, won’t be a good idea because chances are you won’t get 100 percent or more ROI.”
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Small-scale outdoor upgrades can bring the biggest value, she says. This includes a new front door, a new garage door, and fresh landscaping.
Moyer agrees that simple outdoor upgrades are the best place to start. “Like cleaning and clearing out overgrown brush to change the appeal of your home. Other simple outdoor upgrades that make a huge difference include giving your home a new inviting face for potential buyers’ first impressions. Don’t forget to paint your front door a welcoming hue…we recommend a sunny yellow, classic red, or watery blue,” Moyer adds. If you want to take it up a notch, you can consider adding a porch swing, outdoor seating or enclosed porch.
Marty Basher, design and home improvement expert with Modular Closets, echoes that minor outdoors improvements are a great place to start because …….