Spring in South Florida looks a lot like summer. The idea of ‘spring cleaning’ and ‘getting ready for summer’ are all squeezed into the one or two weeks a year when the weather can be considered ‘spring-like’ and then the temperatures ratchet up to the summery heat South Florida is famous for. It doesn’t stop homeowners from turning their attention to projects that need to be done around the house – similar to homeowners everywhere, South Floridians begin to make improvements on their homes once the weather starts to warm up.
If spring fever has you in its grip and you’re making a list of home improvements to make this year, let’s consider a few of the more profitable upgrades that you can accomplish.
- Swimming Pool. A beautifully landscaped lawn, with a well-constructed pool as the focus can be the selling point of your home. Even if the house is in less than stellar condition, if the pool is in great shape chances are good your house will sell easily. Especially in South Florida, where swimming is practically a year round activity, a pool can mean the difference between buying your house and the one next door with no pool.
- Bonus Space. A home office has always been an attractive addition to a home. With an increasing number of homeschoolers and more people working from home than ever before, a larger bonus room that can serve multiple purposes is a smart use of space and money. Adding a work ready space adds value to the home, and attracts buyers who want to be able to plug in a laptop and get to work.
- Relaxation Locations. With the fast pace of society, people are looking to their homes to provide sanctuary and respite. Adding feature items such as a sauna room, relaxation gardens or soothing water features can be a selling point for the buyer who wants to have stress free zones at home.
As you consider your improvement projects, keep in mind that putting large amounts of money into upgrading features does not necessarily translate into a higher selling price. According to some studies, you may recoup only 50 – 75% of the costs of the upgrade in a sale. The location of your home will determine what features are most desirable in the real estate market. Consider consulting with a real estate professional before beginning any large project if you are planning on putting your house on the market in the next few years. If you are going to be in your home for several years and will get use out of your upgrade, the intrinsic value of having a home that is meeting your needs may outweigh any future return on investment you make.
No matter what upgrades you are planning, be sure to use licensed and insured professionals and acquire the necessary permits. A little preplanning and budgeting now may save you thousands in fines and property value loss later due to faulty or incorrectly done work. Whether you’re upgrading to sell or simply want to add a new feature to your house, if you start working on them now, you’ll be able to enjoy them this summer!