Real estate in Florida is booming and it’s a buyer’s market—have you considered how much you might be able to sell your home for? You could be surprised by the value that’s appreciated since your initial purchase!
Maybe it’s time to take those profits and invest in a new property you’ve had your eye on.
Before you list your home on the market, though, you should see whether you can squeeze anything more out of the sale. There’s a long list of improvements you could take on that may significantly increase the resale value of your home… but where to start?
Many homeowners fall into the trap of pursuing popular but pricey home renovations, such as new roofing or a deck addition and find that the costly work didn’t pay off when it came to the purchase price after escrow’s closed.
Even if you’re not necessarily looking to sell at present, you might be eager to renovate your home for the new year—but you should do so wisely, with the long-term picture in mind. Spoiler alert: that salt aquarium you’ve been dying to install won’t translate to a higher resell price in the future.
We’ve narrowed down our list of the top renovations to tackle that keep your bottom line in mind. Read through these three options for inspiration then get to work!
- Solar Panels
The upfront cost of solar panel installation can be rather daunting, but don’t let that deter you. This energy-efficient upgrade is one of the highest valued features that could affect your home’s appraisal. And the great news is that this is one of few home improvements that actually pays for itself over time thanks to the reduced utility bill.
There’s no better place for solar panels than here in the Sunshine State, where the annual amount of sunny days we enjoy per year is significantly higher than the national average. In fact, you might even be able to sell the excess energy your home doesn’t use back to the state for greater savings.
Finally, as more and more people concern themselves with going green, you may find this feature attracts a number of eco-conscious homebuyers who want to do their part to reduce their carbon footprint. It could even be the deciding factor between your property and another’s!
- Windows
On that note, it can get hot in sunny Florida with temperatures sometimes reaching over 100 degrees Fahrenheit. Rather than blasting the swamp cooler or running the air conditioning unit around the clock, there are ways to keep homes temperate without running up the utility bill.
Redoing the roof or insulation can be pretty expensive, but energy-efficient windows offer a cost-effective way to increase the value of your home without digging too deeply into your pockets.
These windows are specifically designed to block the heat of the sun during the summer and reduce cooling loads during the winter. As an added bonus, they’re beautiful to look at and boost your curb appeal, too.
- Exterior Facelift
Speaking of curb appeal, it’s incredibly important for driving the purchase price of your home when it comes time to sell. Don’t list your property on the market unless it can pass the drive-by test; if you were a potential buyer, would seeing it from the street entice you enough to step inside?
Unless you hire a professional xeriscaping service, most of these DIY improvements are easily affordable for nearly any budget. Here are some upgrades you might consider:
- Install a new lawn or turf
- Plant trees, shrubs, and flowers
- Create a path from the driveway to the front door to improve the entry experience
- Replace the front door with one that’s brightly colored to make the house pop from afar
- Paint the exterior walls to conceal watermarks and faded sunspots
It doesn’t take require much of a green thumb to install planter boxes beneath windows, so don’t feel like you need to aspire to HGTV skill level. Be careful not to become too ambitious and overdo with features; no one wants a high-maintenance home.
Ultimately, eco-friendly upgrades will see the highest return on investment, so whatever plants you do install, make sure they’re native to Florida and do not require excessive watering.
Complete these top three home improvements before your next appraisal to see just how much you could sell for, then use that information to decide whether now’s the right time for your next investment!
