By Rick Gibson
Have you considered or already made some home improvements? For some of us, this was always part of our plan. We bought a house that was in need of repair and planned to put some money towards the right kitchen, garden or whatever it is that was important to us. Suddenly, we realize we live at Home Depot and are not sure how we got there. For others, the idea of home improvements comes up only as a way to increase the value of the property.
Whatever your reason for making improvements, some improvements return value on investment better than others. An example for us here in Florida is a fireplace. Most of us agree that having a fireplace adds great ambience, but the cost of adding one rarely pays off when you resell. So, this type of an improvement should be made only for the “pleasure” of the feature while you own it, and that can be crucial for many.
Generally, a pool is a good investment if you enjoy it while living in or owning the property. In my opinion, a tasteful pool in a good area will pay for itself by about 75% on resale over 3 years.
Studies have shown that nearly 90% of property buyers make a decision about a property from the moment they first see it from the street. So, no surprise, one of the highest returns on investment (ROI) in home improvement is paint.
Tastefully painted homes that stand out (in a good way) will create an impact that influences the subsequent viewing of the inside of the home or property.
Avoid colors that are too strong, too personalized or too common. Home Depot and Lowes have great color “family” color cards to help you see what colors go well together to make some good decisions.
Landscaping is next. My recommendation for anyone who does not enjoy landscaping is to hire some who does, or avoid the challenge. Plants are living things so need specialized attention to their needs. Ideally, you will find someone or a company that will be able to study your property, make recommendations on how to maximize its features with specific plants and will be there to maintain it for a reasonable sum. Your landscape and yard maintenance person will become a “relationship,” so it is best to “date” them first and see how that goes before getting too involved.
Inside the home or property is a large and complex topic involving psychology, common sense and even the art of feng shui. The short version is to focus on the “first step” across the threshold of your property, whether it is your home or an investment. The first step, once past the “curb appeal allure,” should be the “wow” step.
Watch people when they walk into a new property for the first time. We all look down (to avoid tripping) and then, of course, look up. The “look up” should be met with floors that are not offensive or too ornate but rather “lead” our eyes to other focal points in the property. This is one of the reasons for use of diagonal tile. The lines of diagonal tile “lead” our eyes to other parts of the home. So, for example, in a waterfront, pool home, the triangular tile pattern should lead us straight to a view of a pool and water behind it.
The experience of entering a home should be a comfortable, flowing experience of “options”. The ideal entrance will be one where we pause for a moment, are a bit overwhelmed, and decide between “options”… going one direction (to a kitchen, for example) or another (to the backyard and pool, for example). That moment of indecision is priceless and what, in my opinion, what distinguishes a “wow” home from others.
I have only touched on a few thoughts to try and help people see improvements as complex, but not “too” complex for you to enjoy and take action. Making improvements that add to your quality of life are about as rewarding as it gets.
Rick Gibson is a Realtor®, Re/Max Preferred; Certified Distressed Property Expert (CDPE); Investment Agent Specialist (CIAS); and Managing Member, Gibson Group Property Management, LLC.
