Who doesn’t love a picture-perfect home? But what goes behind ensuring that a house looks perfect? It certainly requires time, effort, and money. But if you want your house to look like the house of your dreams or want to enhance its value for increased rental revenue or a better selling price, investing in home improvement projects is key.
Let’s further understand this by taking the example of selling or renting out your property in Orlando:
Why Invest in Home Improvement Projects in Orlando?
Many homeowners believe that home improvement projects require a huge budget. While that might be the case for major home renovations, it’s not the case for every small improvement project you take up. When selling your property, the return on investment from these projects often surpasses the initial costs, especially in a thriving market like Orlando.
Orlando is renowned as a ‘seller’s market,’ where house demand outstrips the supply. In this environment, the sale-to-price ratio stands at an impressive 99.17%, indicating that almost all of the Orlando real estate market houses are sold at the asking price. So, if you’re considering selling your home in Orlando, your investment in home improvements can yield substantial financial rewards. But approaching Orlando property managers is key to striking a lucrative deal with buyers and renters. They offer all the services you could ask for, from leasing to real estate investing, selling, buying, and everything in between.
Now, how and where to start on home improvement? Here are all the ways you can invest in home improvement projects that can raise your property’s value:
1. Give Your Interiors/Exteriors a Fresh Coat of Paint
Both interior and exterior paint jobs can elevate the look of your house. Interior paint jobs can yield a 107% ROI, and exterior painting can yield a 55% ROI. That’s why many homeowners paint their houses a few months before selling them.
However, living in Orlando, you’d know that there is unbearable heat in the summer months. While you can paint your interior at any time of the year, exterior paints get exposed to the air and humidity outside, which causes them to dry unevenly, causing bubbles in places. If you paint your exteriors in the winter, the cold temperature might keep the paint from properly curing.
So, even if you plan on selling your property by the end of the year, the summer-winter transitionary period is best for getting a coat of exterior paint. It’s the time when the temperatures range between 60 – 85oF.
2. Replace or Repaint your Main Entrance
Your main entryway is important to elevate the curb appeal of your house. An unkempt main entrance door can set an underwhelming tone for what lies beyond. So, even if you have a stylish kitchen and living room space, it won’t look as appealing as it should if your entryway doesn’t look clean and inviting.
You can replace your main entrance with a steel or fiberglass door. Adding lighting fixtures to either side can also add to the appeal and achieve a symmetrical look that appeals to the unconscious mind.
If you don’t have enough budget to replace and revamp the main entryway, you can always repaint it to make it look new.
3. Go for a Bathroom Remodel
In Florida, bathroom remodeling can yield around 69% ROI on an investment of $22,760. However, these statistics are just an approximation. You need to consider a lot of factors when you are investing in a bathroom remodel.
If your house is old, the bathroom might need a lot of work and won’t give you a high return. On the other hand, homes with good plumbing and bathroom design can yield a much higher ROI.
If you have a good chance of getting a high yield for your bathroom remodel but don’t have enough budget, you can even go for DIY remodeling options like penny tiling and new lighting to enhance the look of the space.
4. Replace the Siding
According to the Cost vs. Value report, new siding can increase the value of your house by as much as $12,500. That comes up to a 67% return on investment. However, this doesn’t mean you should replace the siding even if the existing one hasn’t depreciated. Aluminum siding’s durability is around 30 years before needing replacement. On the other hand, vinyl siding lasts several decades (20-40 years) before they need replacement.
In this case, you can pressure-wash the siding to remove the dirt and grime buildup. After this project, you will see that your siding looks as good as new.
5. Add a Deck
A wooden deck adds a homely feel to the home. And when you add lights and plants to your wooden deck, it enhances the look of your property even more. Although hiring a carpenter or a professional to do the job will be quicker, it will also be heavy on your pocket.
You can easily add a deck to your place if you’re skilled or have done a few small carpentry projects over the years. However, the time it takes to finish this project depends on your skill and experience with carpentry tools.
6. Revamp your Garage
Homes in Orlando don’t have a basement because the groundwater is near the surface. But many people use their garage as a place to store old things. Many others transform their garage so it isn’t just a place for parking cars. If your garage is unclean and unkempt, interested buyers won’t consider the garage as a livable space.
You don’t need to transform the place completely. Freshen the space with paint and add bright lights to enhance the look. Home offices can increase the value of your property by 20%.
Realtors consistently stress the significance of home improvement projects in boosting property value. However, not all expensive projects can yield a good return. You need to consider the condition of your house and the space before making significant investments. Sometimes you only need some pressure washing to make your house look as good as new. In other cases, just a door replacement can enhance curb appeal.
So, assess your needs and consider your budget before you pick on the projects you need to take up months before you put your house up for sale or rental.