The Top 5 Upgrades That Boost a Home’s Equity
Just buying a new home in Crystal Valley is likely to pay off 10 years from now as home values continue to rise in the Denver metro and surrounding areas – without a lot of effort from a homeowner. It’s not unheard of to learn that one year after a purchase, your home’s value has appreciated and you have equity you didn’t have to sweat for! But there are also a few tried and true upgrades that tend add to a home’s value after you’ve lived in it for a decade or more – like these top five.
#1 – Minor Bathroom Remodel
According to HGTV, once you’ve owned your home for a few years, trends and styles that were au courant become dated and oh-so-2020. One upgrade to consider down-the-road is a minor bathroom remodel which can recoup a homeowner 102 percent of the cost. Today’s price tags for a new tub, tile surround, floor, toilet, sink, vanity and fixtures could run about $10,500 but would earn $10,700 at resale. Depending on the rate of inflation, those costs might fluctuate but not the underlying premise of a sound upgrade.
#2 – Adding a Deck
Your home in Crystal Valley likely came with a deck, but as a rule adding one later adds nearly as much as a deck costs — about 83 percent. To install a sealed and pressure-treated deck in today’s housing market might cost $11,000, says The Balance. But the value that deck adds to a home is likely around $9,000. Not only do homeowners have a chance to use and enjoy a redwood or composite deck seven or eight months of the year, but they can rest assured the dollars were well spent!
#3 – Upgrades in the Kitchen
Today’s kitchens are outfitted with the latest energy-efficient appliances, trendy countertops and cabinetry. But by 2030, what will design styles dictate? Will farmhouse style sinks be on trend? Will reclaimed wood cabinetry be the standard? Some designers will tell you that the kitchen sells the house. Whether that’s the gospel truth or just an opinion, Zillow says a kitchen remodel recoups anywhere from 80 percent (Zillow) to 90 percent (HGTV) of the cost. And we’re talking about a minor redo for about $22,000 – keeping it simple – rather than a major overhaul.
#4 – Landscape to Inflate
Landscaping inflates the value of your home dollar for dollar. You will likely see 100 percent of the money you spend on attractive landscaping added to your home’s value. Whether bushes, trees, flower gardens or ground cover, planting and maintaining landscaping around your home increases not just your curb appeal but what your home is worth, say the experts at HGTV.
#5 – The Home Office Necessity
If the bonus room is now a play area or a guest room for friends and family, consider one day making it an office. The rise in telecommuting options for employees has made the home office more of a necessity than a luxury, says Home Advisor. Creating that dedicated workspace for the work-from-home employee or entrepreneur adds value and a different layer of functionality to an already amazing floor plan.
HGTV details 10 more home updates that could pay off in the future, including exterior upgrades and ideas for bedrooms, living rooms and bonus rooms.
Lots to Love in Crystal Valley
With four of Colorado top home builders plying their craft in the master-planned community of Crystal Valley, there are lots of homes to fall in love with in this outdoorsy neighborhood. The new homes here from Richmond American Homes, Kauffman Homes, Century Communities and D.R. Horton are set in natural surroundings with easy access to nearby amenities. Find a new home that’s a perfect fit, in either a ranch or two-story model, priced from the $300s.