Upgrades to Add Value to Your DFW Home
By Arden Ward | 11.30.17 | 3:15 pm
Taking on a home improvement project soon? You may want to rethink investing in a new fence and consider a new roof instead. We have identified the home upgrades that will add value to Dallas-Fort Worth homes, as well as the ones that won’t.
There’s a huge difference between what is basic home maintenance and what is a value-adding upgrade. Many Dallas homeowners may not know the difference, and often put money into home projects that they think will yield a big return when they sell, but that’s often not the case.
According to our research, these upgrades will add value to local homes:
- Installing granite, marble, or quartz countertops in place of less durable Formica or tile.
- Replacing a standard composite shingle roof with a tile, slate, or metal roof.
- Replacing a standard plaster pool finish with Pebble-tec or redoing the pool with gunite.
- Replacing standard appliances with high-end stainless steel appliance brands like Viking, Wolf, and SubZero.
- Adding smart home technology.
- Professional landscaping with a smart, low-maintenance irrigation system.
- Building custom built-ins in key rooms, like the kitchen, master bathroom, and living room.
How much value are we talking? According to industry experts, homes with high-end pool finishes typically yield 20 percent more than homes without. And upgrading to stainless steel appliances (even basic models) can increase ROI by as much as 42 percent.
You may also be surprised to learn that the “basic home maintenance” will not raise the value of your home. Upgrades including replacing the HVAC system, re-piping the plumbing system, replacing an old fence, and replacing the carpet don’t increase value as much as you might think.
Keep in mind that the return will vary by neighborhood and price point.
A neighbor’s property may sell for a great price after renovations and upgrades, and you can typically expect the same. If homes in your neighborhood don’t usually have upgrades, such as granite countertops or high-end appliances, your return on such items might yield lower results, as you’re going above and beyond what the neighborhood calls for.”