Between 2017 and 2018, Florida saw over 100,000 new housing units built as it continues to rapidly grow. In our area of central Florida, the metro areas of Tampa and Orlando are both in the top 10 fastest growing cities in the state, according to the Tampa Bay Business Journal. With that growth, it's easy to see why we have a competitive housing market. To differentiate your house, there are projects you can do that can help increase your home value and make it appealing to potential buyers.
If you're in areas such as Plant City, Winter Haven, Lakeland, Wesley Chapel, or Zephyrhills, here are some remodeling projects you can do that can help add to your home's value.
Upgrade to Energy-Efficient Appliances, Toilets, Windows, & Insulation
Many buyers in today's market are looking for ways to reduce their carbon footprint and their utility bills. With energy-efficient appliances, that's one easy way to do both. Consider purchasing appliances marked with the Energy Star logo. Low-flow toilets also can reduce the amount of water your household uses on a daily basis.
Energy-efficient windows and insulation are other upgrades to think about, especially here where it gets very warm and humid during the summers. A home with good insulation and windows can retain cooler air much easier than a house with older windows and insulation. According to the National Association of Realtors (NAR), new vinyl windows can return as much as 90% of your investment.
Replacing Your Roof Could Provide an ROI of Over 100%
A new roof can be a huge differentiator when you're trying to sell a home. In fact, you can end up getting back about 105% of that cost, according to the NAR. A roof replacement provides a great return on investment (ROI). If a potential buyer sees that your home has a new roof vs. one that is 10-15 years old, they could end up choosing your house over any others.
Kitchen & Bathroom Remodels Are a Great Investment
For minor kitchen remodels that cost around $20,000, a homeowner can expect to recoup about 81% of the cost associated with the project. This could involve appliance upgrades, cabinet door replacements, new handles on doors, and more.
A mid-range bathroom remodel can bring about a 70% ROI, which can include updated flooring, new fixtures, and other modernized touches to give the bathroom a more updated feel. Buyers are less likely to purchase a home with an outdated kitchen or bathroom.
Replace Your Flooring with New Wood Floors or Refinish Existing Floors
In this area, oftentimes people prefer to buy homes with cooler flooring options such as wood or tile. New wood flooring can yield a 91% ROI while refinishing existing wood floors brings a 100% ROI. Wood floors are a popular choice as they are easier to clean and maintain than carpet and don't retain heat, so a room with wood flooring is usually a bit cooler than carpeted floors.
Another way to increase home value is to paint rooms in neutral colors, such as gray or beige.
Open Floor Plans Are Desirable for Central Florida Homes
If you're going to do a remodel, then it's advised to think about opening up your floor plan throughout the living room, kitchen, and dining room. An open floor plan in a central Florida home makes the area seem larger and brings in more natural light. Buyers also often prefer an open design that gives them more freedom to choose how they will be laying out their home.
Are you looking to upgrade or remodel your central Florida home?
If your central Florida home is in need of an upgrade or remodel, True Builders can help. We provide remodeling services to homes across the area, including Plant City, Lakeland, Winter Haven, and more. Give us a call today at (863) 647-1800 to get more information or to set up an initial consultation!
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