Are you looking to make improvements to your home but don’t quite know where to begin? Home updates can make a profound difference in the appearance and value of your home if done right. However, if you choose the wrong updates, you do not only waste your money, you make your home harder to sell, warns Lonnie Bush.

Given the array of renovations, you can do to a house, choosing the right one can be challenging. For easy choice, we have whittled the long list of possible home updates to just a few. Read through our list of most valuable home updates to find the ones that appeal to you the most.

1. Repaint your home’s exterior and interior

Repainting your home is the most basic home upgrade you can do, yet it is one of the most impactful improvements you can make. Wall paint creates the general ambiance of the home. It determines how bright rooms are and how spacious they feel. But you do have to choose the right colors for the interior and exterior spaces. The best colors will help your home sell faster and for more money.

2. Improve your landscaping

Landscaping is one home update that increases in value with time. Unlike other updates, you won’t need to periodically redo your landscaping because it has gone out of style. Mature trees and established gardens make a home more valuable. However, you have to be careful not to plant trees with invasive roots which will endanger your home. The landscaping should also be diverse and low-maintenance. When you combine good landscaping with trendy exterior paint colors, you give your home the chance to make the perfect first impression.

3. Replace your garage door

The garage door is another essential element of your home’s curb appeal. Replacing a garage door improves the home’s overall façade because garage doors are highly visible. Beyond that, this is more of a functional update than an aesthetic improvement. A garage door will cost around $3,700 to replace. But when you sell the home, you will recoup as much as 95% of that cost. This upgrade pays for itself and makes it easier to sell the house. It is a practical update, and buyers will be happy about it.

4. Add a new deck

A deck is a versatile space you can adapt to various uses. Adding one expands the square footage of the house and improves the appearance of your outdoor areas. A deck creates a zone that lets you transition seamlessly from the inside of your home to the outside. You can add outdoor furniture and a canopy to make it comfortable on hot summer days. Building your deck with wood instead of composite will bring you better returns. When updating a wood deck, expect to spend around $14,360. You will recoup up to 72% of that cost when you sell.

5. Install a steel door in your entryway

The front entryway to your home should be attention-grabbing. This area gives visitors their first taste of what to expect inside the house. Since the front door is the centerpiece of your entryway, the area’s design should highlight and complement the front door. Replacing your front door with a steel version will cost roughly $2,000. But when you sell the home, you will get back 70% of your costs. For your front doors, choose bold colors that match the home’s exterior.

6. Update the kitchen

Kitchen updates have a direct impact on the resale value of a home. That is because this is the room with the most influence on buyer’s decisions. Kitchens are valuable because they serve as a social hub of the home and a showpiece for the rest of the house. There are numerous possible updates to do in the kitchen. These include; upgrading appliances, replacing sinks, countertops & faucets, installing new cabinets or a kitchen island. Most times, it is not possible or even advisable to do a complete overhaul of the kitchen. The cost of updating the kitchen depends on the updates you do, but the ROI from most updates is around 77%.

7. Modify the bathroom

The bathroom is another room that greatly influences buyers’ desire to buy a home. It also affects how much they offer for it. The number of bathrooms in the house and the presence of a tub are valuable considerations for buyers. However, even if a home has only one bathroom and no bathtubs, buyers want a combination of features that make the space inviting and relaxing. Just like the kitchen, it is hard to estimate how much a bathroom upgrade will cost; it depends on the specific features you choose. But you should expect to recover 57%-64% of your costs when you sell.

8. Add stone veneer

Replacing the vinyl siding on the street-facing side of your home with a manufactured stone veneer will make it even more appealing. Unlike vinyl, this material will not crack, split or warp, and it will also not dent or fade like aluminum. Manufactured stone veneer will retain its appearance because it is resistant to fire, rot, and insect attack. This upgrade costs around $9,400 and will add around 96% of that amount to your home.

Renting out your house as a vacation property isn’t for everyone, especially if you’re not comfortable with the idea of turning your home over to people who’ll use it as a convenience while they’re having a good time on vacation. To be sure, it can take a little getting used to, but if you live near an area that has a lot to offer people looking for a fun get-away, you can generate a healthy secondary income without a lot of hard work. However, be aware that you’ll be competing with area hotels and B&Bs when it comes to comfort. Here are a few essential points to consider if you’re serious about prepping your home as a vacation rental.

For exterior and interior painting, pressure washing, staining, and home improvement projects, reach out to the pros at Patrick’s Painting. To set up an in-home consultation, call 703.253.9268.

Starting Your Rental Business

Your first rental property is a business – and you’ve got to treat it that way. First, you need to create a legal business entity such as an LLC that will “own” your asset (the rental property). With your business entity established, you can officially apply for your business bank account. This account will help you – and your accountant – separate your business and personal finances. Lastly, you’ll need some investment funding in that business account for purchasing your first property! Your dream is closer than you might think.

A Deep Cleaning

If you intend to compete with full-time hospitality businesses, you’ll have to maintain a high level of cleanliness and convenience. Some renters hire professional cleaning services while others prefer to handle it themselves — though it’s important to make room in your budget for this. Whichever you choose, make sure the job is done as thoroughly as possible because discriminating guests who are spending their hard-earned money on you will certainly notice if any corners have been cut. Be vigilant: As the owner, it can be easy to overlook little details that a guest would not miss. All carpeting should be shampooed and free of stains and stale odors. Make sure there’s no grime or mold showing in the bathroom, and take the time and effort to clean under appliances in the kitchen. The fridge should also be well-scrubbed with no lingering smells.

Of course, keeping your vacation rental properly maintained might prove troublesome if you live a good distance away from it. If taking care of the property between guests is simply too much of a logistical hassle, or you simply want to hire someone to take care of this process for you, look into working closely with a vacation rental company. Bringing in a rental company can take the stress out of maintaining your home, as the company will make sure the home is ready for each guest before arrival. Some rental companies will even equip the property with digital locks and use fraud-prevention strategies during the booking process, so you can rest assured that your home is well taken care of.

Appealing Upgrades

You’ll want your vacation rental to be in an appealing location, but there’s more to attracting visitors than being in a desirable locale. The house itself should also appeal to guests, which means you may need to make some upgrades. Gas fireplaces are popular features for guests who enjoy relaxing in comfort, as are jet tubs, which can be added easily and inexpensively by upgrading an existing standard bathtub. Hiring Patrick’s Painting to add a fresh coat of paint on your home’s interior or exterior can also add to its appeal. You should also consider leaving a few good books and board games in the home for guests to enjoy.

Home Security

Your guests should always expect to feel safe and secure. A rental home with plenty of security features will help put them at ease, so include motion-activated security cameras that can be accessed by smartphone, a valuable feature if you need to keep an eye on things from a distant location. A video doorbell not only lets you monitor comings and goings but gives you the opportunity to communicate with would-be intruders and keeps your investment secure. A home security system with external monitoring is regarded as the best means for ensuring protection.

Convenience

Depending on the number of guests you’re expecting, it may be necessary to move pieces of furniture and other items out of the way. If you lack on-site storage, consider using an affordable rental space temporarily. Remember, you’re trying to give each guest a memorable experience that leaves them considering you for a return trip. That means making them feel at home and well provided for so they don’t waste time running around picking up necessary items.

Your rental home should have a fully equipped first aid kit with numbers for nearby physicians and hospitals clearly posted. Safety should always be your primary concern, so be sure you’ve provided a functional fire extinguisher, fire detectors (with fresh batteries), and potholders in the kitchen. You never know what your guests’ staple beverages might be, so keep a coffee maker and teapot on hand so they can brew whatever they please.

Provide To-Do List Recommendations

You know your area well; your guests can use that knowledge to make the most of their time. Brainstorm a list of top attractions, activities, and restaurants that are a bit different and offer a diverse range of ideas. One guest may plan on spending plenty of time enjoying the sun and surf, so provide a list of the best beaches. Another guest might like to do lots of shopping while on vacation, so make sure they know where the best shopping can be found.

Maximizing your vacation rental home’s marketability depends on paying close attention to details. Your guests should feel cozy and safe staying in a house that offers aesthetic appeal as well as simple conveniences. It should be the kind of place you would want to vacation in.

Curtis Fisher

tradesbright.org

Millennials are currently the largest group of homebuyers in the U.S. and will continue to revolutionize the housing market for years to come. As more millennials pursue homeownership, it is important to revitalize your home in order to attract multiple offers from this surging demographic. Luckily, there are plenty of affordable upgrades and simple ways to spruce up your home to appeal to millennial homebuyers and sell your home quickly.

1. Updating Your Kitchen and Bathroom

The majority of younger buyers looking to see if they can afford to purchase their first home. They most likely won’t have the money or time to redo a kitchen and bathroom. Millennial homebuyers will be looking for an updated kitchen. A kitchen that includes new countertops, fresh cabinets, and hardwood floors. Updating your cabinets and countertops is a great way to spruce up your kitchen, or even give it a whole new look. Additionally, hardwood floors are becoming increasing popular among homebuyers and can improve the look of your kitchen dramatically. Younger buyers are also looking for a bathroom with new tiling and modern fixtures. By hiring a team of professionals, and putting some money toward a kitchen and bathroom remodel, you can attract more millennial homebuyers to your property. Not only that, but you’ll probably recoup a lot of your costs in the selling price of your home.

2. Creating an Open Floor Plan

Millennials are attracted to large, open spaces. Larger spaces that can be used to entertain guests or as multi-functional rooms are favorable with millennials. Essentially, they don’t want to feel like their family or friends have to be sectioned off in different parts of the home. If you are already planning on remodeling your kitchen, you may consider tearing down a wall or two to create a more open look.

3. Choosing Low-Maintenance Materials

Millennial homebuyers are interested in low-maintenance homes. They are not looking for a fixer-upper the way Gen Zers and other past generations were. Millennial homebuyers don’t want to spend their time on significant repairs, home-maintenance or even cleaning their homes. They prefer things that will last and are easy to maintain. Consider choosing low maintenance materials. These materials include quartz countertops, full-sheet materials like back painted glass, and quartz backsplashes to eliminate grout lines for easy cleaning. As well as installing vinyl, sealed concrete or hardwood floors in your kitchen and bathroom to provide the new homeowners with durable, easy to clean surfaces.

4. Adding Smart Home Technology

Adding technology to the home will excite millennial buyers into purchasing your home. Many millennial homebuyers are interested in looking at homes that can manage all their home devices from one place. A smart home ecosystem has many benefits. Including, remote control functions, increased home security, and increased energy efficiency. These functions will allow homeowners to conveniently control their home from anywhere as well as reduce their energy bills.

5. Installing Energy Efficient Appliances

Millennials care about the environment and will even pay extra to protect it. Younger homebuyers want appliances designed to help reduce power consumption, reduce environmental impact, and contribute to a healthier planet. 75 percent of millennial homebuyers want energy Star-rated appliances in their homes. They also want these appliances to save them money and have the latest features and technology to make everyday tasks easier.

6. Adding a Home Office

Creating a space that can double as a home office is intriguing to many millennial homebuyers. Many do commute to work, especially if you work in a big city like New York. But there is also an increasing number of millennials working from home at least a couple days a week. Creating this space allows these millennial homebuyers to have a designated area where they will be able to work from home easily and comfortably.

7. Painting your Home

If you need to freshen up your paint, and want to appeal to millennial homebuyers, opt for neutral colors on walls, trim, and baseboards. Colors such as light grey, cream, and other soft neutrals are preferred. If you have children and their rooms are all shades of bright green, blue, and pink consider painting those to match the rest of your home. Having this neutral base will make your home easy to stage and design. It also will bring a more simple, sophisticated look that millennial homebuyers find alluring.

8. Purchasing a Home Warranty

You may also want to consider purchasing a home warranty for your buyer. Many home warranty companies offer “listing coverage” that you can easily turn into a year-long plan for a homebuyer to repair or replace worn down systems and appliances. Many millennial homebuyers find it enticing to have a company do the groundwork of calling a contractor and scheduling repairs for them.

9. Highlighting Proximity and Walkability to Market Your Home

A “walkable community” means a home is near public transportation, grocery stores, restaurants, local businesses, and public services. Homes receive a Walk Score based on how many errands can be accomplished on foot. Millennial homebuyers are very interested in homes that have a great location. 56 percent of millennials and 46 percent of baby boomers prefer walkable communities with a range of housing amidst local businesses and public services. If your home is considered walkable, you’ll want to market it that way. By doing so you will attract more buyer interest, and you’ll potentially be able to price your home higher.

As time moves forward, millennials are beginning to make up a bigger population of homebuyers than ever before. As the playing field of buyers changes, it isn’t a bad idea to update your home to cater to the larger homebuying demographic. Following these tips can help provide you with more bids from potential buyers, and possibly sell your home quickly and for more money.

Lexi Klinkenberg

Lexi is part of the Redfin content marketing team and enjoys writing about real estate and design trends. Her dream home would be a contemporary home with an open floor plan, lots of windows, and a waterfront view.

Original Article: https://www.redfin.com/blog/ways-to-attract-millennial-homebuyers