Upgrades in Homes for Sale in San Antonio
Determining the increased value to a home when doing an upgrade or update is difficult for even a professional installer to assess given the variables of any neighborhood, comparable homes, and whether the cabinets and appliances will also be updated.
I've been told that professional installers have determined that on average, granite counter tops gives an approximate 70% return on investment. Additionally, granite is the countertop that most people are interested in when they see an updated kitchen.
(100% quarried natural igneous rock, green in nature because it has lead the market for so long that it is rarely replaced due to style change or wearing out, low maintenance requiring only annual sealing which can be done by a professional or very easily by the homeowner.)
(100% quarried natural metamorphic rock, durable with proper care and suitable for kitchen islands and bathroom areas, less durable than granite, requires annual sealing.)
(Engineered Stone, 100% non-porous, manufactured of 93% quartz and 7% resin binders and pigments, available in many 100's of colors, twice as strong as granite, lowest maintenance countertop on the market, usually has the best warranties in the market, less natural character than granite.)
(Referred to as solid surface, non-porous, resistant to impact and staining, more affordable than granite, marble, and quartz, more durable than laminate.)
(Multiple layers of resin soaked kraft paper, topped by a patterned sheet of melamine. Resists grease and stains, clean with soap and water, accounts for 75% of the market, most affordable solution on the market.)
* Please note that price ranges are estimates and are subject to change at any time. Information about counter tops was provided by Natural Stone Design (www.naturalstonedesign.org).
* Please note that price ranges are estimates and are subject to change at any time. Information about flooring materials was provided by RW Dust (Dusty) at Interior Surfaces (www.interiorsurfaces.net). Interior Surfaces provides 6 months no interest financing and is a whole seller. When you contact him please let him know that Randy Elgin sent you.
Upgrades or Improvements In General
According to http://financialplan.about.com, a popular home improvement is to finish a basement, but what if you live in Texas and don't have a basement? There is always the loft that you can turn into a home theater. According to this website creating a theater room or finishing a basement is often one of the lowest returning home improvements where youíll only receive about 50% of what you put into the cost of the project when it comes time to sell. As I've stated before to too many sellers in San Antonio, if youíre thinking about finishing out your garage, putting in a pool or creating a Home Theater Room, do it because you want the added space and/or amenities. Please donít expect it to boost the value of your home.
As a rule of thumb, two of the best improvements you can do are remodeling kitchens and baths. And this should make sense because they see the most activity. High quality appliances, spacious bathrooms, and quality workmanship means a lot in attract buyers. Typically you can expect to receive about 75-90% of the cost of updating one of these rooms.
The list I got from the about.com website of good home improvements to make included:
Adding or remodeling a bathroom
Adding a bedroom
Adding a garage
When it comes to the exterior of a home, buyers are looking for low maintenance, great landscaping, and retreats from the hectic everyday world.
Maintenance - Natural stone and brick are the common items that home owners want because typically it doesn't take much to maintain them and they retain their value. Stucco, cement fiber board, vinyl siding and wood (plywood or pressed board) all require some kind of annual maintenance with varying degrees of cost.
Landscaping - Another rule of thumb that I've come across as a home owner is that purchasing a new home without landscaping will cost you about 5-10% of the value of the home. So what constitutes good landscaping and what brings the highest offer for a home for sale in San Antonio. My recommendation is to go low maintenance and drought tolerant plants.
Here is a question I get from time-to-time: I paid a lot for X, Y, and Z so I should get more money than my neighbor! Right?
Porches / Patios - A covered patio in a track housing development for a brand new home will cost the buyer somewhere between $3500-8000. Now if everyone who purchased the same size home with the same number of bedrooms and baths added the covered patio there would be no difference in price except condition of the home and when you had to sell it. However, if you are competing against a home that didn't have the covered patio then you have a chance of recovering between 40-70% of the original cost.
Sprinkler Systems - My question to you is have you ever paid a professional to come out to your home, locate a lead and fix it? If not, you would be startled at the cost and realize that it probably makes more sense to just dig a new line and start over since the labor cost alone would probably be 2 or 3 times the materials cost. Sprinkler systems can save money, time and keep your lawn in good shape provided you spent the time, money and energy maintaining the system and it works when it is time to sell. Curious to know true costs? Drive a neighborhood in the summer and ask the owner what they do. My neighbor doesn't have a sprinkler system and he has the greenest lawn on the block.
Swimming Pools - My question to you is have you ever seen an above ground pool at a $500,000 house? When asked if a pool adds value or not, usually the answer is if the pool is above ground remove it. In my opinion the value of a pool begins once it is installed and ends once you decide to sell the home. Regardless that the pool is custom or not, most estimates for dollar value is around 50% and I've seen cases where the home with a pool sold for the same $/SF as similar houses in a neighborhood without pools.
Upgrades - Not So Much Maybe - You Chose
There are a number of things that home owners have put into their homes that they thoroughly enjoyed for many years, yet don't necessarily increase the value of the home they are trying to sell. What is worse is when they aren't maintained. Below are just a few reasons I found on demesne.info about why a buyer may pass up the home all together.
Got questions? Please contact me. I'll make time for you.