Charles Stallions Real Estate Services Inc.

Making Sense of Home Improvements: What Adds Value?

07331b72-605e-4d88-8c7b-f495ad377330.jpg

Before diving into renovation projects, it’s important to understand which upgrades are likely to boost your home’s value and which ones may not yield a significant return on investment. While certain improvements can enhance your home’s appeal and attract potential buyers, others may fall short of expectations.

It’s prudent to explore examples of home improvements that have the potential to increase your home’s value, as well as situations where renovations may not have a substantial impact on its worth. By gaining insights into these factors, homeowners can make informed decisions and maximize their return on investment when upgrading their properties.

Home improvements that may increase the value of the home:

Hardwood floors … Refinishing or updating to wood floors have good appeal and have a high return on the cost.

Kitchen Remodel – Updating the kitchen with modern appliances, countertops, and fixtures can increase the home’s value by improving functionality and aesthetics.

Bathroom Update – Renovating bathrooms with new fixtures, tiles, and amenities can enhance the home’s appeal, especially if it increases the number of bathrooms or improves their condition.

Curb Appeal – Enhancing curb appeal through landscaping, exterior painting, or updating the front door can make a positive first impression and increase the home’s perceived value.

Energy-Efficient Upgrades – Adding energy-efficient features such as insulation, or windows can attract environmentally conscious buyers and reduce utility costs, thereby increasing the home’s value.

Open Floor Plan – Removing walls to create an open floor plan can improve the flow of the home and make it feel more spacious, which may appeal to modern homebuyers and increase value.

Home improvements that may not affect value significantly:

Over-Personalized Upgrades – Home improvements that are highly customized to the homeowner’s taste, such as extravagant or niche features, may not appeal to a broad range of buyers and may not recoup their cost.

Low-Quality Workmanship – Poor-quality renovations or DIY projects that are not executed professionally may detract from the home’s value rather than adding to it.

Excessive Upgrades – Spending too much on renovations relative to the home’s overall value for the neighborhood may not yield a commensurate increase in value.

Unpermitted Additions – Home improvements made without the necessary permits or that violate building codes may lead to complications during the selling process and may not add value to the home.

Overcapitalization – Investing in upgrades that exceed the anticipated resale value of the home for the neighborhood may result in diminishing returns and may not justify the expense.

While there are many powerful investment aspects of homeownership, not all the money spent on it will necessarily increase the value. If the cost of some renovations won’t be able to be recaptured in the sales price, homeowners should recognize that in advance of making them. If they decide to move forward, they must realize that it was done for personal convenience or enjoyment.

On the other hand, some improvements can satisfy convenience, enjoyment and return part or all the cost. The latest Remodeling Impact Report done by the National Association of REALTORS� and the National Association of Remodeling Industry can provide more insight into cost recovery.

Your real estate professional can provide guidance of a more specific nature.

Speak To An Agent

    We're Here To Help

    Charles helped me find an incredible deal on a property by Woodham Middle School.  He dealt fairly and professionally during the transaction representing both sides.  It was a very smooth transaction.

    ak727

    I contacted Charles to help find a rental for a relative.  Charles knows Pensacola. I closed loans for Charles years ago and he was always professional and reliable.  My relative found a place on their own.  I will contact Charles again when searching for property.

    conhen2013

    Although I am not into a new home yet, Charles Stallions has been honest and has followed through. He tells it like it is and doesn’t waste my time. I feel hopeful that with his help I will find the right home

    Dean and Betty Bourne
    I’d like to take this opportunity to tell you all about the exceptional service and experience my wife and I had when selling our house.  I have know Charles for over six years and when it came time to sell my house I naturally went to him for assistance.  We met and discussed the value and what work needed to be done to get our best price.  That being completed we listed the house.  Within one week we had 3 showings (before it hit the MLS).  We got 2 offers from those showing and I made approximately $10,000 more than I expected.  Charles is a competent, trustworthy realtor, but more importantly he is a native of Pensacola and has an extensive network of other real estate agents, banks and closing agent, and trades people and service providers necessary to complete the sale or purchase of your property.  I highly recommend Charles Stallions Real Estate Services for you real estate needs.
    Delos E.Boardman

    I would like to express my appreciation for the 12 years of managing my rental property there in Pensacola as effectively and efficiently as all of you did. It was always a pleasure to hear from Michelle even when I knew it was about to cost me for a repair for whatever. You always delivered the news of an upcoming expense in the most pleasant way and made me feel better about what I was about to spend. Rianna also helped me sort out those expenses at tax time which made filing them accurately much easier.

    Charles, thanks for taking care of business all those years, keeping the property rented, and ultimately getting the place sold. I believe the only single occasion where there was any sort of issue actually was caused by the Post Office delivering a check over three weeks after it was sent.

    All things considered I feel my choice to use your services was a very good one.

    Thanks again for your professionalism and I wish you the best success in the future.

    Rich Henson