Whether you want to add value to your house for investment purposes or in order to sell at a higher price, you’d be surprised at the ways you can do it without breaking the bank. Sure, a new roof and full kitchen and bathroom upgrades will do the trick, but there are less expensive things you can do with similar results. So let’s take a look at 4 surprising things that add value to your house in Los Angeles.
1. Judicious Landscaping
You’re probably already aware that landscaping will add value to your house in Los Angeles, but to avoid throwing money away here, you’ll need to do what counts most. According to Tony Clarke, MD, of the Rawson Property Group, “Established gardens with thoughtful landscaping elements are a huge value-add to homes, as are neat and attractive walkways, pretty off-street parking areas and convenient garden storage spots.” Although you can’t really determine the exact ROI for landscaping improvements, they often result in 100% up to 1,000% returns.
Clarke further advises investing about 10% of your property’s value in landscaping, as well as consulting with your agent to determine what will work best with your home. (Find out more about agents by calling 562-881-9811.) The thing to keep in mind is that landscaping improvements that appear to be high maintenance can actually have the opposite of the intended effect by lowering the sale price.
2. Emphasizing Mature Trees
One surprising feature that can add value to your house in Los Angeles is the presence of mature trees. Such trees have a host of sought-after benefits – providing shade to cut down on summertime utility bills, attracting bird life, and even cleaning the air we breathe. Of course, if you don’t have mature trees now, it will be several years until you do. But if you do have them, be sure to emphasize that fact in your marketing efforts when you are trying to sell.
3. Playing Up Walkability
Walkability is a feature that has been growing in popularity. Increasingly, buyers want homes within walking distance of restaurants, shops, parks, and so on. “People don’t want to have to hop in their car every time they want to grab a beer with friends or pick up a loaf of bread anymore,” Clarke said. “The more self-sufficient your neighborhood, the more people are willing to pay to live in it.” You can’t change your home’s location, but if it does have walkability, that’s something you should play up in the marketing because it will add value to your house in Los Angeles.
4. Unexpected Upgrades
In addition, there are some fairly simple, budget-friendly upgrades you can make to add value to your house. The things you can do to add value without going broke include:
Certainly, installing new appliance will cost you some, but it’s far cheaper than, say, a major kitchen remodel – and almost just as noticeable and appealing to buyers. So consider upgrading your kitchen range and refrigerator, as well as the washer and dryer, especially if they are markedly out of date. Kitchens and bathrooms are the most important rooms for buyers, so whatever you can do to make these rooms sparkle and look modern will likely add value.
PUTTING IN NEW FENCING
There’s almost nothing that can detract from curb appeal and the aesthetics of the outside of your house as much old, sagging fencing that is in bad repair. First impressions are critical, and the fencing is a key element in that all-important first impression. Professionally installed wooden fencing will run you about $1,000 to $2,000. But if you are at all handy with tools, this is an upgrade you can perform yourself. In fact, just replacing worn, faded, and broken pickets may do the trick to add value.
ADDING STORAGE SPACE
Top realtors agree that plenty of storage space is an important feature for all buyers, “so adding additional storage wherever possible is always a plus. The absolute best option is to create one the industry’s hottest trends nowadays – the mudroom – and offer buyers a storage-filled place to put their shoes, umbrellas, hats, jackets, keys, and other essentials when they come in the house each day.” But adding additional storage doesn’t have to be that big a project. You can also add extra shelves to cabinets and/or install closet systems.
RETURNING TO THE ORIGINAL
If yours is a vintage property, an even less expensive way to add value to your house in Los Angeles is simply to return it to its original state. You could, for example, tear out the carpet to expose those hardwood floors or remove sheetrock to expose brick walls. Doing this adds value by giving your house that coveted, more elegant look and feel.
An Unsurprising Thing to Do
So these are 4 surprising things that add value to your house in Los Angeles, but there are many, many more. The trick is doing only what will ensure a solid return on the investment at sale time.