Dreaming of a new home but feeling priced out? You’re not alone! According to a recent survey by Bankrate, 78% of aspiring homebuyers cite affordability issues as their primary deterrent.¹ 

According to data from the U.S. Census Bureau, home prices have risen around 32% since the pandemic, and elevated mortgage rates have caused monthly payments to balloon.²

 

Despite the challenges, homeownership remains a top goal for many Americans. Fortunately, there are ways to turn your dreams of homeownership into reality! In this guide, we’ll explore five common roadblocks to affordable homeownership and actionable solutions to help you overcome them. Let’s break down those barriers so you can finally get the home of your dreams!

 

ROADBLOCK #1: I Don’t Have Enough Saved For A Down Payment

Many prospective buyers believe they need a 20% down payment to buy a home. But in reality, most conventional loans require just 3-5%. And, for buyers who qualify, there are a number of programs and mortgage options that can make a home purchase more accessible.

Down Payment Assistance Programs (DPAs)
DPAs offer grants, loans, and other financial assistance to help with your down payment and closing costs. Many programs are specifically designed for first-time buyers, but there are also options for repeat homebuyers.^3,4 These programs can significantly reduce the upfront costs of buying a home. We can help you find down payment assistance programs. Contact us to find out if you may qualify!

0% Down Government-Backed Mortgages
If you qualify for certain government-backed mortgages, you may not need to come up with a down payment at all.⁵ While these loans, offered by the Department of Veterans Affairs (VA) and the United States Department of Agriculture (USDA), are not available to all buyers, they offer numerous benefits, including competitive rates and no down payment requirement. 

• VA loans are available to U.S. military members, including veterans and surviving spouses.⁶ They do not require a down payment, though the buyer must pay a fee at closing. 
• USDA loans are available to moderate to low-income buyers in certain rural areas.⁷ They do not require a down payment. 

Family Gifts
Did you know that 25% of first-time buyers in 2024 reported receiving down payment gifts or loans from family members or friends?⁸ In fact, a growing number of Baby Boomers are choosing to gift all or a portion of their heirs’ inheritance before they pass away.⁹ Some financial advisors even recommend this as part of their client’s estate plan. Just be sure to follow the proper procedures to document these types of gifts, if you’re fortunate enough to receive them.¹⁰ 

Existing Home Equity
Due to record-high real estate gains over the past few years, if you already own a home, you may have more equity than you realize.¹¹ This equity (or difference between your home’s current value and what you owe on your mortgage) could go toward a down payment on a new property. Wondering how much equity you have in your current home? Reach out for a free home value assessment.

 

ROADBLOCK #2: I Can’t Afford the Monthly Payment

Worried about those monthly mortgage payments? High interest rates and rising costs can make mortgage payments feel daunting. But there are strategies to reduce your monthly burden.

Explore Alternative Mortgage Terms
The traditional 30-year fixed-rate mortgage isn’t the only kind of loan out there. Options like adjustable-rate mortgages (ARMs) or hybrid mortgages can offer lower initial rates.^{12, 13} Some buyers opt for these if they plan to sell the home before the initial rate term ends or refinance down the road. A lower mortgage rate can significantly lower your monthly payment. However, it’s important to understand the risks involved so you can weigh the pros and cons before deciding.

Consider Discount Points
Buying discount points—a process also known as a permanent rate buy-down—is another great way to limit your monthly costs.¹⁴ Essentially, this strategy involves prepaying a fee to lower your interest rate across the life of your loan. If a seller is especially motivated, they may be willing to pay for discount points for the buyer to close the deal on a home. In some cases, we can help you negotiate these types of seller concessions.

Ask About Seller Financing or an Assumable Mortgage
Here are two less common options you might not have considered:¹⁵

• Seller Financing – The seller acts as the bank, offering you potentially better terms than a traditional mortgage.
• Assumable Mortgage – You take over the seller’s existing mortgage with a lower interest rate than what’s currently offered by lenders.

Note that these options may or may not be possible for you depending on the seller, the home, and the type of mortgage, but they are worth exploring—and we can help.

Co-Buy with Family or Friends
A growing number of homebuyers are returning to multigenerational living or are even buying a home with friends.¹⁶ This arrangement enables you to cut costs significantly while sharing both the time and financial responsibilities of homeownership. We can help you search for homes that are well suited for your group.

Purchase a Home with Income Potential
You can generate extra income to offset your mortgage payments by purchasing a duplex, renting out a room or an accessory dwelling unit (like a garage apartment), or even listing your property on Airbnb. We work with investors and can help you find a property to meet your goals.

 

ROADBLOCK #3: I Can’t Qualify for a Mortgage

Qualifying for a mortgage can be a stressful process, especially if you have previously faced financial challenges. But you might be pleasantly surprised—there’s a lot you can do to improve your chances of success. 

Boost Your Credit Score
Your credit score is foundational when it comes to getting a mortgage.¹⁷ A higher score typically means a lower interest rate and more options. Take steps to improve your credit by paying bills on time, reducing debt, and checking your credit report for errors. Even a small improvement in your score can make a big difference. Pro tip: Avoid opening or closing credit cards or taking out other loans (like car or personal loans) if you plan to start home shopping in the near future. 

Lower Your Debt-to-Income Ratio
Lenders want to see that you can comfortably handle your debts. They assess this by calculating your debt-to-income ratio: your total monthly loan payments (including mortgage, car loans, student loans, and credit cards) divided by your gross monthly salary.¹⁸ Paying down other types of debt, like your car loan, will leave more space in your budget for a monthly mortgage payment. 

Apply for an FHA Loan
FHA loans are designed for buyers with less access to savings, as well as those with lower credit scores.¹⁹ Down payments on FHA mortgages can be as low as 3.5% with a credit score of 580 or above, or 10% with a credit score of 500 or above. Generally, the buyer’s debt-to-income ratio must be below 43%, with no more than 31% of income going to mortgage payments. These loans do come with some additional requirements, such as mortgage insurance (including an upfront premium of 1.75% at closing), a pre-purchase inspection, and borrowing limits that vary based on geographic area. 

Consider Getting a Co-Signer
Having a co-signer with a stronger credit history or more income can strengthen your application, but make sure you (and they) understand the risks and responsibilities involved.

 

ROADBLOCK #4: I Can’t Find a Home in My Price Range

Feeling frustrated by the lack of affordable homes on the market? Unfortunately, this is a common problem.²⁰ But with a little flexibility and guidance, it’s possible to find a great property to fit most budgets.

Expand Your Home Search
You may need to search outside your target area. In many markets, home prices vary drastically within the span of miles.²¹ Being open to exploring alternative neighborhoods or those farther from town can open up surprising possibilities. As local market experts, we can help you discover hidden gems and up-and-coming neighborhoods. Reach out for a complimentary consultation.

Revisit Your Must-Haves
Take a close look at your “must-have” list. Are there any features you can compromise on to expand your options and find a more affordable property? For example, do you really need two bathrooms, or could you settle for a single bathroom with space to add a second one in the future? These types of compromises can sometimes shave tens of thousands off your purchase price. We’re happy to offer our thoughts on the features that you’re likely to find within your budget.

Consider Fixer-Uppers
Looking to cut purchase costs? Don’t shy away from homes that need a little TLC.²² Fixer-uppers usually come with a lower price tag, and you can personalize the renovations to your taste. Just be sure to factor in the cost of repairs and renovations when determining your budget—and to be realistic about your own home repair skills! If you’re interested in exploring fixer-upper opportunities, we can help you identify properties with potential and connect you with reliable contractors.

 

ROADBLOCK #5: I’m Overwhelmed by the Process

Buying a home can feel like navigating a maze. Between searching for properties, securing financing, negotiating contracts, and handling paperwork, the process can quickly become overwhelming. But you don’t have to do it alone! We can simplify every step, helping you stay organized, informed, and confident in your decisions.

Find the Right Home Faster
The sheer number of listings on the market can be daunting, and homes that meet your criteria may not always be easy to find. Our team can:

• Save you time by narrowing down homes that fit your budget, needs, and lifestyle.
• Get you access to off-market and pre-listing properties that aren’t widely advertised.
• Provide insights on local market trends to help you make a competitive offer.

Navigate Financing & Paperwork With Ease
Real estate transactions involve complex contracts, legal documents, and lender requirements. One misstep could delay your purchase—or even cost you your dream home. We will:

• Help you find down payment assistance or grants that you may not be aware of.
• Explain mortgage options and connect you with reputable lenders.
• Ensure all purchase documents are accurate and deadlines are met.

Score the Best Deal
Many buyers worry about overpaying for a home or getting stuck with costly repairs, but we know how to:

• Use expert negotiation tactics to secure the best possible price.
• Identify hidden costs so you aren’t caught off guard at closing.
• Negotiate repairs or seller concessions to save you money.

Streamline Inspections & Closing
The home inspection and closing process can bring last-minute surprises. We avoid these by:

• Helping you interpret inspection reports and advising on necessary repairs.
• Coordinating with lenders, appraisers, and title companies to keep everything on track.
• Preparing you for closing day so you know exactly what to expect.

Benefit From Ongoing Support
Our relationship doesn’t end once you get the keys. We always go the extra mile to:

• Recommend trusted contractors for renovations and repairs.
• Help you make strategic upgrades through complimentary real estate consultations.
• Provide market updates in case you want to refinance or sell later.

The bottom line? You don’t have to navigate this process alone. When you work with us, you’ll have a trusted partner to handle the complexities, answer your questions, and ensure everything goes smoothly from start to finish.

 

LET’S TURN ROADBLOCKS INTO STEPPING STONES TOWARD YOUR DREAM HOME

Buying a home may come with challenges, but none of them are impossible to overcome. With the right strategies, resources, and expert guidance, you can navigate these obstacles with ease.

Whether you’re worried about saving for a down payment, qualifying for a mortgage, or finding the right home in your price range, there are solutions available to help you move forward. The key is to stay informed, explore all your options, and work with professionals who can guide you every step of the way.

Our team is here to help you find the right home, secure the best financing, and negotiate the best deal—without the stress and uncertainty of doing it all yourself. Let’s turn your homeownership dreams into reality. Contact us today to get started!

 

The above references an opinion and is for informational purposes only.  It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

 

SOURCES: 

1. Bankrate –
   https://www.bankrate.com/mortgages/home-affordability-report/#unaffordability 
2. Nerdwallet –
   https://www.nerdwallet.com/article/mortgages/2025-home-buyer-report 
3. Bankrate –
   https://www.bankrate.com/mortgages/first-time-homebuyer-grants/#types
4. Down Payment Resource –
   https://downpaymentresource.com/ 
5. Bankrate –
   https://www.bankrate.com/mortgages/types-of-mortgages/#government-backed 
6. Bankrate –
   https://www.bankrate.com/mortgages/understanding-va-loans/ 
7. Bankrate –
   https://www.bankrate.com/mortgages/what-is-a-usda-loan/ 
8. National Association of Realtors –
   https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers 
9. Business Insider –
   https://www.businessinsider.com/boomers-not-waiting-pass-inheritance-wealth-transfer-millennials-need-it-2024-7
10. Experian –
    https://www.experian.com/blogs/ask-experian/down-payment-gift-rules/
11. Bankrate –
    https://www.bankrate.com/home-equity/homeowner-equity-data-and-statistics/ 
12. Nerdwallet –
    https://www.nerdwallet.com/article/mortgages/adjustable-rate-mortgage-arm 
13. Lending Tree –
    https://www.lendingtree.com/home/mortgage/what-is-a-hybrid-mortgage/ 
14. Investopedia –
    https://www.investopedia.com/terms/d/discountpoints.asp 
15. Lending Tree –
    https://www.lendingtree.com/home/mortgage/what-to-know-about-owner-financing/
16. National Association of Realtors –
    https://www.nar.realtor/blogs/economists-outlook/home-for-the-holidays-the-rise-of-multi-generational-home-buying 
17. Consumer Financial Protection Bureau –
    https://www.consumerfinance.gov/consumer-tools/credit-reports-and-scores/ 
18. Nerdwallet –
    https://www.nerdwallet.com/article/mortgages/debt-income-ratio-mortgage 
19. Bankrate –
    https://www.bankrate.com/mortgages/what-is-an-fha-loan/#requirements 
20. Bankrate –
    https://www.bankrate.com/real-estate/low-inventory-housing-shortage/
21. Realtor –
    https://www.realtor.com/advice/buy/priced-out-of-dream-neighborhood-cheaper-alternative/  
22. This Old House –
    https://www.thisoldhouse.com/buying/21017198/buying-a-fixer-upper-house

Tax season. Just the words can send shivers down your spine. But if you’re a homeowner, there’s a silver lining: potential savings! 

You’ve probably heard that you can deduct the interest you pay on your mortgage — but did you know there are many other ways homeowners can reduce their tax burden?

Before you start your return, read this post for common home-related tax deductions, eligibility requirements, and tips on how to maximize your savings.

Home-Related Tax Savings: The Basics

Before we get into the details, it’s important to define some important terms to set the stage. 

Tax Deductions vs. Tax Credits

Most tax savings opportunities for homeowners come in the form of tax deductions. Deductions work by reducing your taxable income — essentially, the government allows you to subtract certain expenses from your total income before calculating how much you owe in taxes. This means a lower taxable income and, ultimately, a lower tax bill. For example, if you earn $50,000 and claim tax deductions worth $5,000, you will only pay taxes on $45,000. 

Tax credits, on the other hand, directly reduce your tax bill, rather than your taxable income. That means that if you owe $10,000 in taxes and claim a tax credit worth $2,000, your tax bill will be reduced to $8,000. 

Pro Tip: Meticulous record-keeping is crucial. Keep detailed records of all potentially eligible expenses. This will make tax time much smoother and ensure you don’t miss out on any deductions. 

Itemized Deductions vs. Standard Deduction

To understand what deductions apply to your situation, it’s important to know the difference between itemized deductions and the standard deduction. The standard deduction is a fixed dollar amount that you can subtract from your adjusted gross income (AGI) regardless of your actual expenses. Itemized deductions, on the other hand, are specific expenses that you can deduct, such as mortgage interest, property taxes, and charitable contributions.

You’ll need to choose whether to itemize or take the standard deduction. Generally, you should itemize if your total itemized deductions exceed the standard deduction. Most home-related deductions are only applicable if you choose to itemize.

2025 Standard Deduction Amounts

• Single and Married Filing Separately: $15,000
• Head of Household: $22,500
• Married Filing Jointly: $30,000¹

Source: IRS

Key Home-Related Tax Deductions and Credits

If you do choose to itemize your taxes, common tax deductions and credits available to homeowners include: 

Mortgage Interest Deduction

No one likes to pay mortgage interest, but the good news is that you can deduct interest used to buy or build your primary residence or a second home. However, there are certain limitations that you need to be aware of.²

Mortgage size: If you file your taxes single or married filing jointly, you can deduct interest paid on the first $750,000 of mortgage debt³ for your primary residence or second home. If you are married but choose to file separately, that limit drops to the first $375,000 (for each partner). 

Requirements: 

• The mortgage interest deduction only applies if your home is collateral for the loan (which is standard).
• To qualify as a primary home, your property must have sleeping, cooking, and toilet facilities.
• If you are deducting mortgage interest on a second home, you don’t need to use the home during the year; however, if you rent it out, you must spend at least 14 days or more than 10% of the days you rented it out (whichever is longer). 

So, how do you calculate how much mortgage interest you’ve paid?

The amount of interest you pay each year will vary, even if your interest rate is fixed — that’s because mortgage amortization³ means that you pay more interest earlier in the mortgage’s term, and more principal closer to the end. Each year, your lender will send you (and the IRS) a copy of Form 1098, which shows how much you paid in interest.⁴ 

For example, let’s say you are a married homeowner filing jointly with a mortgage for $400,000. If your Form 1098 shows that you paid $25,000 in mortgage interest in 2025, you could deduct the full $25,000 from your 2025 household income.

Real Estate Taxes (Property Taxes)

You can deduct state and local real estate taxes (property taxes) you pay on your primary residence or second home. However, it’s crucial to understand what qualifies. Only property taxes imposed for “general public welfare” are deductible⁵—if your town imposes a special assessment for a project that directly improves your property value, like a sewer line, that is not deductible. Furthermore, fees for local services, such as trash collection or sewer maintenance, are not deductible, even though your town may list them on the same bill as your property taxes.

There’s also a limit: the 2017 Tax Cuts and Jobs Act imposed a $10,000 cap on the total amount of state and local taxes (SALT)⁶ you can deduct. This includes state and local income tax (or sales tax) as well as property taxes. 

Finally, be aware that the amount you deduct must match the amount actually paid to the tax authority.⁷ This might differ from what you put into escrow if you pay property taxes through your mortgage lender. Typically, the amount your lender paid to your tax authority is listed on Form 1098.

Home Equity Loan Interest

You can deduct the interest paid on home equity loans or home equity lines of credit, but with a significant caveat. Since 2017, that interest is only deductible if the loan proceeds are used to buy, build, or substantially improve³ your primary residence or second home, and the loan is secured by the home.

If you use the home equity loan for other purposes, such as a vacation, debt consolidation, or purchasing a car, the interest is generally not deductible.  If you use part of the loan or line of credit for eligible purchases, and part for non-eligible purchases, only interest incurred on the portion used for eligible spending is deductible.

Loan interest is also not deductible if the funds are used for home improvement projects or repairs that do not “substantially improve” your home. Smaller projects, like repainting or new cabinets, likely do not qualify. However, projects like building an addition, a full kitchen remodel, or installing a new roof should qualify as substantial improvements.⁸ 

It’s also important to note that home equity loan and HELOC interest rate deductions are subject to the same upper limits³ as mortgages (and are added together with your mortgage for calculation purposes). For example, if you have a $500,000 mortgage and a $300,000 home equity line of credit—which together exceed the $750,000 limit for a married couple—you would only be able to deduct interest paid on the first $750,000 of those combined loans. 

Home Improvement Expenses

You can’t usually deduct home improvement expenses directly.⁹ However, the money you spend on capital improvements (improvements that increase your home’s value) can help reduce your tax bill later. These expenses are added to your home’s “cost basis,”¹⁰ which reduces your capital gains tax when you eventually sell the house. Think of it this way: by keeping records of your home improvements, you’re essentially increasing the “price” you’re considered to have paid for your home, thus lowering your profit when you sell. 

It’s important to note that not all projects qualify as capital improvement. Basic repairs and updates likely won’t qualify, while major additions and landscaping likely will (the considerations are the same as those used to determine whether home equity loan interest is deductible).

Beyond capital improvement, there are a few specific categories of home improvement that are deductible, including work on home offices (which is subject to specific limitations) and certain modifications for medical/accessibility reasons.¹¹ 

Energy-Efficient and Clean Energy Tax Credits

Certain energy-efficient home improvements can qualify you for valuable tax credits. Unlike deductions, which reduce your taxable income, tax credits directly reduce your tax bill, making them even more beneficial. 

For qualifying energy efficiency expenses in the 2024 tax year¹², homeowners can claim up to 30% of qualified expenses on their federal tax return, with a maximum credit of $3,200.¹³ However, some qualifying expenses, like new exterior doors and windows, come with their own maximum credit limits, so it’s essential to check the specific rules. 

Another option is the Residential Clean Energy Tax Credit, which offers a 30% credit for the cost of installing renewable energy systems, such as solar panels, on your primary residence or a second home that you use part-time and don’t rent out.¹³ Many states also offer their own tax deductions, rebates, or credits related to energy efficiency and clean energy, so be sure to investigate what’s available in your state.

Selling Your Home and Taxes

When you sell your home, the difference between the selling price and what you originally paid for it (plus any major improvements) is called your capital gain.  Think of it as your profit from the sale.  Let’s walk through a simple example:

Imagine you bought your home for $200,000. Over the years, you invested in some significant upgrades, like a kitchen remodel ($30,000), a new roof ($15,000), and landscaping ($5,000). These are called “capital improvements,” and they increase your home’s “cost basis”—essentially, what the IRS considers you to have invested in the property. In this case, your adjusted cost basis would be $250,000 ($200,000 original price + $50,000 improvements).

Now, let’s say you sell your home for $350,000. Your capital gain would be $100,000 ($350,000 selling price – $250,000 adjusted cost basis).

Capital Gains Exclusion

The good news is that the IRS allows you to exclude a significant portion of your capital gain from taxation!¹⁴  If you’re single, you can exclude up to $250,000, and if you’re married filing jointly, you can exclude up to $500,000.  To qualify for this exclusion, you need to have owned and used the home as your primary residence for at least two out of the five years before the sale.  This is a key factor to consider when deciding how long you plan to live in a home.

Essentially, this exclusion means that, in many cases, homeowners won’t owe any capital gains tax when they sell their primary residence.  It’s a valuable tax benefit that can significantly impact your finances.  Keep good records of your purchase price and any capital improvements you make to ensure you can accurately calculate your capital gain and take full advantage of the exclusion when you sell.

Record-Keeping Tips for Homeowners

Organized records are essential for taking advantage of tax deductions and credits. Keep all relevant documents, such as mortgage statements, property tax bills, and receipts for home improvements, readily accessible.¹⁵ It’s wise to keep both physical and digital copies (scan and save everything!). Store physical copies securely, perhaps in a safe deposit box. Keep all home-related records for as long as you own the home, plus at least three years after you file your tax returns for the year of the sale.

Conclusion

Homeownership offers numerous opportunities to save on taxes. From mortgage interest and property taxes to energy-efficient upgrades and capital gains exclusions, understanding these deductions and credits can significantly reduce your tax burden. Remember, this information is for general guidance only. Consulting with a qualified tax professional is invaluable for personalized advice.

Have questions about real estate or need a referral to a trusted tax advisor? Contact us today!

 

Note: This information is accurate as of February 2025 and is intended for general guidance only. Tax regulations are subject to change.

 

Sources:

1. IRS –
   https://www.irs.gov/newsroom/irs-releases-tax-inflation-adjustments-for-tax-year-2025
2. Nerdwallet –
   https://www.nerdwallet.com/article/taxes/mortgage-interest-rate-deduction
3. IRS –
   https://www.irs.gov/forms-pubs/about-publication-936
4. IRS –
   https://www.irs.gov/forms-pubs/about-form-1098
5. IRS –
   https://www.irs.gov/faqs/itemized-deductions-standard-deduction/real-estate-taxes-mortgage-interest-points-other-property-expenses/real-estate-taxes-mortgage-interest-points-other-property-expenses-5#:~:text=The%20total%20deduction%20allowed%20for,taxes%20or%20sales%20taxes)%20is
6. IRS –
   https://www.irs.gov/taxtopics/tc503#:~:text=Overall%20limit,your%20other%20itemized%20deductions%20also.
7. TurboTax –
   https://turbotax.intuit.com/tax-tips/home-ownership/claiming-property-taxes-on-your-tax-return/L6cSL1QoB
8. Bankrate –
   https://www.bankrate.com/home-equity/home-equity-loan-tax-changes/#how-to-claim
9. USNews –
   https://realestate.usnews.com/real-estate/articles/are-home-improvements-tax-deductible
10. IRS –
    https://www.irs.gov/publications/p523
11. NOLO –
    https://www.nolo.com/legal-encyclopedia/what-home-improvements-tax-deductible.html
12. USNews –
    https://money.usnews.com/money/personal-finance/articles/how-consumers-can-save-with-the-new-climate-tax-breaks
13. IRS –
    https://www.irs.gov/credits-deductions/energy-efficient-home-improvement-credit
14. Bankrate –
    https://www.bankrate.com/real-estate/capital-gains-tax-on-real-estate/#avoiding-during-home-sale
15. NOLO –
    https://www.nolo.com/legal-encyclopedia/tax-reasons-keep-good-records-home-improvements.html

Ask any homeowner about what they would like to change about their home, and most will say, “How much time do you have?

Home improvements (cue Tim Allen) or home remodeling projects can stem from a variety of motivations, like preparing your home to put on the market, adding space for a growing family, addressing outdated features or aesthetics, or fixing structural/functional issues with the home. 

However, when it comes to home remodeling projects, too many people assume their project will proportionally increase the value of their home. Few actually consider the complete scope of return on investment (ROI), taking into account not only potential impact on resale value but also the total costs of time, labor, and materials. Some renovations may provide more “quality of life” ROI by improving comfort and aesthetics without significantly impacting resale value, while others can deliver notable financial returns.

Whether you’re looking to upgrade your living space, increase the equity of your home, or trying to make some quick changes to improve your resale price, here are four remodeling projects with the highest ROI and some tips on how to get them done.

Top 4 Home Remodeling Projects with the Highest ROI

Before diving into specific projects, it’s important to understand how the data supporting these ROI estimates was gathered. This article references findings from the 2024 Cost vs. Value Report conducted by Zonda Media, a reputable research firm in the real estate and construction industries. The report’s ROI figures are based on national averages for both the cost of materials and labor, which means that regional differences may lead to variations in actual returns.

1. Garage Door Replacement

• Job Cost: $4,513
• Resale Value: $8,751
• ROI: 193.9%

Replacing an old garage door is one of the simplest ways to dramatically boost your home’s curb appeal—and it happens to deliver the highest ROI of any remodeling project. The impact is largely due to the prominent visual space a garage door occupies on a home’s exterior. A sleek, modern garage door can make your entire facade look fresher and more attractive to buyers.

Garage doors with the highest ROI include insulated steel doors with modern paneling, custom carriage-style doors, and those featuring windows or decorative hardware. These options not only enhance the home’s exterior aesthetics but also improve functionality and energy efficiency.

2. Steel Entry Door Replacement

• Job Cost: $2,355
• Resale Value: $4,430
• ROI: 188.1%

Upgrading to a steel entry door is a simple yet impactful change that can drastically improve both the look and energy efficiency of your home. Steel doors cost less than wood ones, giving you a cost effective way to make a big impact on the curb appeal of a home, without sacrificing performance, life span, or durability.

Why It Works:

• Cost-Effective Curb Appeal: Steel doors are less expensive than wood but provide a similar aesthetic boost. This makes them a budget-friendly way to enhance a home’s exterior.
• Energy Efficiency: Many steel doors come with insulating cores, which can help keep your home comfortable year-round and lower energy bills.
• Increased Security: Steel doors are harder to break into, providing an added layer of safety that appeals to security-conscious buyers.

3. Manufactured Stone Veneer

• Job Cost: $11,287
• Resale Value: $17,291
• ROI: 153.2%

Manufactured stone veneer (MSV) is a high-ROI project because it delivers a striking visual upgrade at a relatively moderate cost. MSV is an artificial cladding material designed to mimic the look of natural stone, making it a cost-effective way to add texture and sophistication to your home’s exterior.

Why It Works:

• Strong Visual Impact: Stone veneers add depth and elegance, creating an upscale appearance that can significantly boost curb appeal.
• Durability and Low Maintenance: Unlike natural stone, MSV is lightweight, easier to install, and resistant to wear and tear.
• Perceived Value: Even though it’s a faux material, MSV adds an air of luxury and craftsmanship that can make your home more appealing to buyers.

Pro Tip: Use manufactured stone veneer to accentuate specific areas, such as around the entryway or along the lower portion of the facade, for maximum visual impact without overspending.

4. Minor Kitchen Remodel (Midrange)

• Job Cost: $27,492
• Resale Value: $26,406
• ROI: 96.1%

According to Homelight’s “Top Agent Insights End of Year 2024 Report”, “88% of agents say that upgraded kitchens and appliances are one of the best selling points for homes”–a significant increase from the previous year. https://homelightblog.wpengine.com/wp-content/uploads/2024/12/homelight-top-agent-insights-end-of-year-2024-report.pdf

The trick to ROI with a kitchen remodel is the budget, and how you decide to balance what to upgrade, the quality of materials, and how much to work within the existing layout. For example, you can make a big impact with less expense if you keep your current cabinet boxes but upgrade the doors and hardware. However, if you strike that balance, you can recoup much of your investment. If you’re looking to sell, an updated kitchen will appeal to buyers, which can also help your home stand out and sell faster. 

Why It Works:

• High Buyer Interest: Kitchens are a focal point for most buyers, so even modest improvements can make a significant impact.
• Affordable Upgrades: By focusing on midrange materials—such as quartz countertops, midrange appliances, and refaced cabinets—you can keep costs manageable while still delivering a fresh look.
• By keeping the existing layout and avoiding costly structural changes, you can modernize your kitchen while keeping costs down.

Key Takeaways for Homeowners

7 out of the 10 best ROI projects all have to do with improvements to the exterior of your home, which makes one thing very clear: Boosting the curb appeal of your home in a cost-effective manner will give you the best ROI if you’re thinking about selling this year. 

If you look at the current housing market, you can start to see why that is. In the post-pandemic frenzy, buyers had to accept whatever they could find. However, housing inventory has increased over the last couple of years, giving buyers more options. Additionally, due to high-interest rates and affordability issues, the current market favors older, move-up home buyers who are sitting on equity, and these buyers can afford to be pickier about the home they buy. 

You can see these trends play out in the “Top Agent Insights End of Year 2024 Report” conducted by HomeLight:

Given these trends, it’s no wonder that the remodeling projects with the best ROI are those that make the home stand out from other homes in the area and leave a strong impression with potential buyers.

Conversely, the projects with the lowest ROI involve major remodels or upscale materials. Anytime you alter the footprint of a home—such as by moving walls or adding square footage—you’ll incur higher costs and lower returns. Unless you’re a general contractor or a skilled DIYer, these high-end renovations typically aren’t worth it from a purely financial perspective. The one caveat is if you’re in a market where high-end appliances and materials are the rule not the exception. 

How to Get Started on a Remodeling Project

Starting a remodeling project can feel overwhelming. Here’s how to set yourself up for success:

1. Outline Your Project Goals: Before you dive into the nitty-gritty of remodeling, take a step back and clarify what you hope to achieve.

Are you remodeling to improve aesthetics? To improve functionality or comfort for your family? To prepare your home for the market or boost your resale value? Is it an essential repair? After you decide on why you’re doing it, you can take a step back and decide what is worth the cost to you.

2. Get inspired: Take time to gather ideas and give shape to your vision. Whether you’re updating a single room or tackling a whole-house remodel, these resources can inspire you:

• Houzz – A go-to platform for home remodeling ideas, complete with photos, product links, and even local contractor recommendations.
• Pinterest – Create mood boards for different rooms by pinning your favorite designs and layouts. You can also add ‘-pinterest’ to Google searches to find more targeted boards and collections of remodeling ideas on Pinterest. 
• This Old House – Packed with articles, videos, and guides on home renovation projects, from DIY fixes to large-scale remodels.
• YouTube Channels: Follow popular home renovation YouTubers who share real-life projects, product reviews, and practical tips.
• Visit Local Showrooms: You can visit the showrooms or warehouses from local manufactures for ideas on fixtures, cabinetry, and counter tops. 
• Open Houses – Stop by open houses in your area to get a feel for what’s popular and what other homeowners have done. 
• Local Remodeling / Contractor Websites: Many will post galleries and before/after images of their renovations, and these galleries can be a goldmine for practical remodeling ideas!

3. Prioritize your wants vs. needs: Once you’ve gathered ideas, it’s time to separate the essentials from the extras.

• Must-Haves: These are the non-negotiable items—structural fixes, code-compliance upgrades, or critical repairs.
• Nice-to-Haves: These are aesthetic choices or features that you’d like to include if your budget allows.A prioritized list will help you make tough decisions if costs start to climb or timelines get tight.

4. Create a scope and timeline: Clearly defining what’s included (and excluded) in your remodel is critical for staying on schedule and within budget.

• What’s Included: Are you only updating finishes and fixtures, or are you changing the layout and moving walls?
• Project Phases: If you’re remodeling multiple areas, consider breaking the project into phases to manage timelines more effectively.
• Expected Timelines: Be realistic about how long the project will take, especially if you’re working around major life events or seasonal weather.

5. Set a realistic budget: Start by researching the typical costs for your specific type of remodeling project in your area. Resources like Remodeling Magazine’s Cost vs. Value Report, HomeAdvisor, and NAHB provide national and regional averages for popular renovations like kitchens, bathrooms, and additions.

6. Include a Contingency Fund: Even with thorough planning, unexpected costs seem to always arise. Many experts recommend setting aside 15% – 30% of your total budget for contingencies.

7. Research contractors & Get Multiple Quotes: If you’re hiring contractors, request at least three detailed quotes to compare prices and scope of work. Make sure to clarify what’s included in each quote to avoid misunderstandings. And use your checklist below for some tips on hiring a contractor! 

Checklist for Hiring a Contractor

Finding the right contractor is crucial for a successful remodeling project. Here’s a quick checklist to help you hire the right professional:

• Get recommendations from friends, family, neighbors, and your real estate agent.  Word of mouth is one of the most reliable ways to find a trusted contractor. Ask people you trust about their experiences and if they would hire the contractor again. After you have a recommendation, you can also search for reviews online. 
• Check credentials, licensing, and insurance. Verify that the contractor is licensed to work in your state. Most states have an online database for checking contractor licenses. You can also look for contractors certified by reputable organizations, such as the National Association of the Remodeling Industry (NARI). 
• Review past projects and ask for client references. Ask to see a portfolio of previous projects similar to yours. Pay attention to the quality of work and whether their style aligns with your vision.
• Request detailed bids from multiple contractors. Ask for written estimates that break down costs into categories such as labor, materials, permits, and any additional fees. Compare bids carefully to ensure all contractors are quoting on the same scope of work.
• Ensure the contract includes a clear scope of work, timeline, and payment terms.
• Check references – A reputable contractor should have no issue providing references. Contact past clients and ask about their experience.
• Avoid red flags
  • Unusually Low Bids: If a bid is significantly lower than others, it could indicate corner-cutting or hidden costs.
  • Pressure to Pay Upfront: A small deposit is normal, but never pay the full amount before work begins.
  • Lack of Written Contract: Never agree to verbal agreements only.
  • Poor Communication: If a contractor is difficult to reach or dismissive during the bidding process, this may continue during the project.

Conclusion

Whether you’re updating your home to sell or simply want to enjoy a more modern space, focusing on high-ROI projects is a smart strategy. From replacing your garage door to enhancing your home’s exterior with stone veneer, these upgrades can boost both your home’s value and appeal.

Curious about what features are popular in your neighborhood? Thinking of moving and wondering what remodeling projects, if any, you should do before listing? Want recommendations on contractors? I’m happy to help!

Experts Predict Home Values to Increase 1.5% to 3.6% in 2025.

Top housing experts and economists give a glimpse of what mortgage rates, home values and the national real estate market will do in 2025.

Key Takeaways

• Mortgages are forecasted to remain higher for longer; but there are things you can do to lower your rate.
• Home values are predicted to increase incrementally on a national level; and there are projects you can do to increase your home’s value.
• The national market will slightly favor sellers in negotiations; however, real estate is driven by local dynamics and may favor either buyers or sellers.

Note: real estate is a dynamic market and forecasts made in this article will change as the year unfolds.

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Mortgage Rates Will Average 6.4% in 2025

In 2023, the average 30-year mortgage peaked at 7.79% following the pandemic. Rates came down from that peak in 2024. What will mortgage rates do in the next year?

The Federal Reserve is predicted to lower the federal funds rate 6 to 8 times in 2025; but mortgage rates are not set by the Federal Reserve and may not drop significantly (National Association of REALTORS®).

Fannie Mae predicts mortgage rates to average 6.4% in 2025. Mortgage Bankers Association also predicts mortgage rates to average 6.4%, but with slightly higher rates compared to Fannie’s forecast.

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When Will Mortgage Rates Drop Back to 3%?

Historically, rates have never been as low as the pandemic era interest rates. 30-Year mortgage rates averaged between 4% and 6% during & after the housing crisis and Great Recession. A return to a 3% range is very unlikely.

 

Tips to get a better mortgage rate…

While we can’t affect the average 30 year mortgage rate, you can improve your credit and get the best possible rate. Here’s an example of recent mortgage rates by credit score:

 

If you’re thinking of making a move, the earlier you talk to a mortgage finance professional, the more time you have to work on improving your credit to get a better rate.

Need a recommendation to a trusted lender? Send me a message.

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Home Values Will Increase by 1.5% to 3.6%

Since 2020, the average sales price of a home has gone up by $97,000 or 29.7% (Federal Reserve of St. Louis). Which indicates homeownership to be a great investment. But, what will home values do in the next year?

On a national level, home price growth is predicted to slow down from 2024. However, home prices are predicted to increase in 2025. Fannie Mae predicts home prices to increase on average by 3.6%. MBA is predicting an average increase of 1.5%.

 

Home values are influenced by local market dynamics. If you want to understand what home values are forecasted to do locally, consider talking to a real estate professional.

Want to increase your home’s value? Consider these remodeling projects for the highest return on investment.

Will Home Values Crash in 2025?

For home values to drop significantly, a major influx of homes for sale would have to hit the market. Freddie Mac estimates the U.S. housing stock is 3.7 million units below what’s needed to meet demand. It will take time to build up inventory to meet demand. Which is why a major drop in home values and prices is unlikely.

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Will 2025 Be a Home Buyers or Sellers Market?

Who will have the advantage in the 2025 housing market, buyers or sellers? One measure of the market is Months Supply and it shows who has the advantage.

Months Supply is calculated by dividing the total number of homes for sale by the average number of homes sold each month. For example if there are 500 homes for sale in a particular area and an average of 100 homes are selling each month, the Months Supply is 5 months.

Here’s a chart of month’s supply going back to November of 2023:

 

6 Months Supply is considered a balanced market. Over 6 months supply is considered a buyers’ market. Below 6 months supply is a sellers’ market. At 4 months supply on a national level, the market slightly favors sellers.

Inventory is rising nationally, however, which could shift the market to favor buyers in the next year. With that said, all real estate is local and local markets will differ in favoring buyers versus sellers.

If you want to know if your area favors buyers or sellers, send me a message.

What This Means for Homeowners

If you own a home, you will likely see a slight increase in your home’s value. If you want to increase your home’s value and enjoy the upgrades, consider making some home improvements. If you want advice on which features or projects are best suited for increasing your home’s value, consult with a professional.

Tips for Potential Home Buyers

If you’re thinking of purchasing a home, the sooner you start planning the better. Knowing your price range, optimizing your credit, and working towards your downpayment are steps you can take now. Even if you’re in the market to buy in the next 12 to 24 months, talking with a real estate professional early in the process will set you up for success.

Tips for Potential Home Sellers

Sellers need to prioritize their objectives. Is getting top dollar for your home the highest priority, is it moving within a specific timeframe? Do you have to sell a home prior to purchasing your next one? These objectives must be prioritized so that an effective plan and marketing strategy can be put into place. Thinking of making a move? Talk to a real estate professional!

The holidays are a time for joy, family, and celebration, but they also bring added responsibilities. Between decorating, hosting, and just keeping up with your daily routines, your home can quickly start to feel more like a neverending to-do list rather than your haven. 

That’s where smart home technology comes in. It can help you streamline holiday tasks to focus on what matters most—spending time with loved ones and enjoying the season’s magic. 

And there are more upsides to upgrading your home tech: doing so can also enhance the overall value and appeal of your property. Current research indicates that 77% of today’s home buyers are interested in smart homes, which results in an up to 5% increase in a property’s resale value! In general, estimates indicate that sellers who invest in smart home technologies realize a 50% return.¹

So whether you’re thinking about selling in the near future or just want to enjoy your home to the fullest this season, adding smart gadgets is an investment that pays off. Read on for some of the best smart home solutions to simplify your holidays (and just maybe make your home more marketable down the road, too).

 

ENTERTAINING MADE EASY

Spending time with friends and family is the highlight of the holiday season—but entertaining can be a lot of work. These tools can help turn any gathering into a celebration to remember without all of the fuss. 

    1. Make Cooking Easier with Digital Recipe Access

Holiday cooking often means late nights and multiple trips to the store. Instead of juggling old recipe cards, let smart-home displays keep you organized with easy menu planning and grocery lists.

High-end: Google Nest Hub Max
This smart display offers an easy-to-use recipe mode with step-by-step guidance from the Google Assistant. It’s like having a sous chef right on your countertop.

Mid-range: LG – 27″ Smart webOS TV with Countertop Design
This smart TV can be perched on your kitchen counter or mounted on the wall to watch cooking shows, pull up your favorite recipes, or cast content from your mobile device.

Budget pick: Amazon Echo Show 8
With a Food Network integration and recipe assistance, this countertop model offers plenty of features in a less-expensive package.

    2. Set the Mood with Smart Lighting

The right ambiance can elevate any gathering. Control colors, brightness, and temperatures remotely with these smart lighting options.

High-end: Philips Hue Play HDMI Sync Box
Watching a holiday movie? Sync your smart lightbulbs to adapt their colors to what’s on the screen for the ultimate festive movie experience. 

Mid-range: Lutron Caseta Wireless Bridge
Use this small internet-controlled device to set up automations for your smart bulbs, so you can dim all your lights at once with a swipe on your smartphone. 

Budget-friendly: Govee Lightbulbs
Just getting started with smart bulbs? This affordable option allows you to control color and brightness using your Alexa or Google Home device.

    3. Amplify Your Holiday Spirit with Smart Speakers

From carols to party playlists, music sets the tone for the holidays. These smart speakers will get everyone in the mood to sing along.

High-end: Bose Smart Speaker 500
This powerful speaker delivers room-filling sound—and Google Assistant and Alexa are both built-in. 

Mid-range: Amazon Echo Studio
The best device for Amazon loyalists who care about sound, music comes through loud and clear on this speaker. 

Budget-friendly: Google Nest Mini
This diminutive speaker gives you voice-controlled playback at an entry-level price.

 

TRADITIONS WITH A TWIST

Decorating your home and popping on a holiday film gets everyone in the holiday spirit. These tech solutions make things easier and give you more time to enjoy the fun. 

    1. Watch Holiday Favorites in Style

Level up your holiday movie traditions with smart projectors that turn any room in your home—or even your backyard—into a movie theater. 

High-end: Epson Home Cinema LS1100
This 4K projector is a serious investment, but it delivers cinema-quality performance and a laser light source that won’t require replacement bulbs. It’s also easy to set up and adjust. 

Mid-range: Samsung Freestyle 2nd Gen Smart Portable Projector
Use this feature-packed, battery-powered projector nearly anywhere—it’s designed to level and focus your video automatically and to scale to the size of your space. 

Budget-friendly: Vankyo Performance V700W
This 1080p projector offers a bright picture, high-quality audio, and the portability to move it from room to room (plus outside). You can cast from your mobile device or plug in a computer or USB.

    2. Shine Bright with Smart Plugs

Tired of clambering behind furniture to get to a hard-to-reach plug for your decorations? Invest in smart plugs, and you can control all of your electrified holiday decor (plus anything else you might plug in!) easily from your phone. 

High-end: Meross Smart Power Strip
This smart power strip includes four AC outlets plus two USB C and one USB A port. It’s compatible with Apple HomeKit, Amazon Alexa, and Google Home, and each outlet can be operated individually.

Mid-range: Enbrighten Wifi Smart 2-Outlet Plug
This smart plug turns one wall outlet into two smart outlets. Control the plug using an app or with Google or Alexa voice assistants. 

Budget-friendly: Kasa Smart Plug Ultra Mini
These inexpensive plugs are designed to take up minimal wall space yet offer plenty of features. Plus, they’re compatible with Google and Amazon home ecosystems. 

    3. Create a Winter Wonderland with Smart Outdoor Lighting

Whether you want to wow the neighborhood with an eye-catching display or simply add a touch of outdoor holiday charm, setting up lights doesn’t have to be a daunting task. Smart outdoor lighting makes it simple to illuminate your home’s exterior with minimal effort or planning.

High-end: Govee Permanent Outdoor Lights
Install these permanent outdoor lights on your home and celebrate year-round with app-controlled color and effects options for every holiday you can think of. 

Mid-range: Twinkly Icicle Lights
Drape your home in any color you can think of with these easy-to-use, app-controlled icicle-style lights. True to the name, there are plenty of twinkling options to choose from!

Budget-friendly: Brizled Smart Christmas Lights
String up these indoor-outdoor lights wherever you’d like to enjoy customizable colors and effects, or sync the bulbs with music for a truly eye-catching outdoor display. 

 

SIMPLIFIED HOME MANAGEMENT

There’s plenty to manage at the holidays as it is—make things easier for yourself by automating some basic home tasks and functions. Less time spent on tedious chores means more time making memories with your family. 

    1. Keep Your Home Spotless with Robot Vacuums

The holidays can create a lot of mess — stay on top of it with smart vacuums that clean up all of those cookie crumbs and bits of wrapping paper for you. 

High-end: Roomba Combo J9 Plus
Say goodbye to vacuuming and mopping with this high-tech robot, which comes complete with AI obstacle avoidance to keep it from banging into your furniture. 

Mid-range: Roborock Q5 Max+
This powerful robot vacuum is highly customizable—use the app to set up cleaning preferences like a second pass through high-traffic rooms or to block off areas you’d like left alone. Plus, it empties its own bin!

Budget-friendly: Shark Ion
This robot vacuum may not come with all the bells and whistles, but it does a great job keeping dirt and pet hair off the floor. You can control it with Amazon Alexa or the Google Assistant in addition to a dedicated app. 

    2. Manage Deliveries and Greet Guests with Smart Doorbells

The holidays tend to bring a lot more people than usual to your door. Keep track of who’s coming and going, and keep your home safe with smart video doorbells.

High-end: Eufy Dual+ Security Video Doorbell
This large video doorbell offers a much wider field of view than most competitors, plus high resolution and night vision. It’s compatible with both Amazon Alexa and Google Home devices and can be set up wired or wireless. 

Mid-range: Google Nest Doorbell Camera
This sleek doorbell camera is easy to set up and control from a distance and offers fast notifications and the ability to respond by voice or with preset messages. Advanced features include package detection and facial recognition. 

Budget-friendly: Arlo Video Doorbell
This doorbell offers a wide field of view, high-resolution images, and the ability to zoom in, and is compatible with multiple smart-device ecosystems. However, some of its features, like recordings, require a monthly subscription. 

    3. Protect Your Home While You Travel

Unfortunately, the holidays tend to bring higher rates of home break-ins. Whether you’re traveling or staying local, these tech solutions can help keep your home and family safe.

High-end: Ring Alarm Pro
Ring is well-known for video doorbells, but they also offer full home security systems, complete with professional monitoring (for a monthly fee). With high-performing devices and a built-in router to ensure working wifi, this system lets you keep an eye on things no matter where you are. 

Mid-range: Abode Smart Security Kit
This kit is designed to work with all of the major smart home ecosystems, allowing you to connect as many devices as you’d like for a seamless experience. It includes a hub device, a door/window sensor, and a motion sensor, and you can easily add on from there to customize a system to your needs. 

Budget-friendly: August WiFi Smart Lock
Lots of visitors coming and going this holiday season? This smart lock upgrades your existing deadbolt, allowing you to give access to trusted family and friends. Best of all, it attaches to the lock on the inside of your door, so it won’t impact your curb appeal or draw unwanted attention. 

 

ENJOY A BETTER HOLIDAY SEASON WITH SMART HOME TECH

Incorporating smart home technology can help make this holiday season more relaxing—and it can also be a great investment that adds value to your property in the long run. From energy-efficient lighting to reassuring security systems, these gadgets do more than just make life easier; they enhance your home’s appeal to future buyers.

If you’re curious about how upgrading your home’s tech might impact its value, we’d love to help. Reach out for a free consultation to learn more about the latest trends in smart home technology and how it can align with your real estate goals. Whether you’re looking to sell soon or simply upgrade your lifestyle, we’re here to guide you every step of the way.

 

Sources

1. National Association of Realtors –
   https://www.nar.realtor/blogs/emerging-technology/smart-homes-can-help-you-grow-your-business-heres-how

For many homebuyers, multigenerational living used to be considered an option of last resort: it was a route families took only when they needed to ride out a financial storm or care for ailing family members. But that mindset is on the decline: A growing number of families now say that they are embracing multigenerational living and moving in together by choice. 

In fact, research by the National Association of Realtors (NAR) found that the share of multigenerational home buyers rose to 14% in 2022––close to an all-time high.¹ 

Buyers cite a multitude of reasons for choosing a multigenerational home, including saving money on living expenses, pooling resources, taking care of very young or aging relatives, and spending more time with family. “Multi-generational home buying is a way for families to care for one another, support one another, and often buy a home that may have been previously out of reach,” writes Deputy Chief Economist Jessica Lautz in a blog post about the trend.¹

Living with extended family has become especially popular in recent years as younger generations face higher home costs and seniors embrace aging in place. According to Pew Research, the number of Americans living in a home with at least two generations of adults has more than quadrupled since the 1970s.² 

For many families, the benefits are substantial. Research shows that people who live in multigenerational homes are healthier and tend to live longer. They also enjoy more financial security. Plus, research by Pew found that people who live with relatives are more likely than not to say that it has been a positive experience.^2,3 

That’s not to say that multigenerational living is easy: It can also be stressful––especially if you choose a home that isn’t suited for a larger family. The key to making it work is to pick a home that can accommodate young and old alike without requiring you to sacrifice comfort or privacy.^2,4 

Here’s a closer look at multigenerational living, along with tips for finding a home that’s suitable for a diverse group. 

 

WHAT TO CONSIDER BEFORE SHOPPING FOR A MULTIGENERATIONAL HOME

Before starting your house hunt, take the time to discuss your house plans as a family so that you’re all on the same page. Have you hashed out what you’re looking for in a new home? Can you agree on potential compromises? Are there any unaddressed concerns about the move?

You may also find it helpful to articulate your “why” for buying a multigenerational home and how each of you might benefit. For some families, multigenerational living is all about caring for relatives and sharing responsibilities. But for others, the goal is to pool resources so that you can purchase a more desirable property or cut down on expenses, like childcare or senior living. 

For homeowner Jian Huang, she initially bought a multigenerational home to help her aging mother. But she says the purchase also helped her family save a lot of money on expenses––as much as $25,000 to $40,000 a year. “It makes so much sense financially and emotionally that we would not have it any other way,” commented Huang to Apartment Therapy.⁵ 

In addition to talking over your short-term wants and needs, you’ll also want to weigh long-term issues that could crop up in the future, like accessibility or money concerns. For example, if some family members are nearing retirement, accessibility issues (such as extra-steep stairs or a narrow hallway) could become a problem over time. Similarly, a more luxurious home with extra amenities like a pool may appeal to buyers who have gathered a lot of cash upfront, but it may also require a bigger long-term budget for maintenance and supplies.

If you haven’t had these discussions yet, set a date in your calendar so that you can talk it over as a group. We can help by interviewing family members individually and advising you on what you can realistically find in today’s housing market. 

 

WHAT TO LOOK FOR IN A MULTIGENERATIONAL HOME 

Once you’ve settled on what you want and need from a new home, your next step should be to jointly draft a budget so that you’ll know what you can afford. To ensure that no one in your family gets accidentally overextended, think holistically when planning your new housing budget and determine what you would need to buy the home––and maintain it. 

In addition to budget, you’ll also want to consider a home’s size and what kind of layout you might need. In general, homes that offer ample space for solitude and privacy are thought to be more practical for multigenerational living––especially if there will also be young children.⁴ 

However, the ideal layout for your family and the amount of square footage you’ll need to be happy long-term will also depend, in part, on family members’ personalities. Some people don’t mind sharing a bathroom or having bedrooms situated close to one another. But others may find that they need something more separate to relax. Different housing options to consider include: 

• A large home with plenty of rooms and at least one or more ensuite bathrooms. 
• A home with an accessory dwelling unit (ADU), such as a basement apartment. 
• A multifamily unit, such as a duplex.  

For home buyers looking to age in place, a home that offers a separate ground-floor unit, such as a backyard ADU, could be the most comfortable (and the most practical) option, says author Sheri Koones. “It’s a way for many older people to avoid having to go into an expensive assisted living or other facility as they age,” said Koones in an interview with Realtor Magazine.⁶

Another possibility to consider would be a home you could add onto or retrofit into multiple units. However, building a brand-new accessory unit or renovating an existing space can be pricey. When visiting a property, we’ll help you weigh potential costs and estimate whether it’s a good investment. We can also connect you with a trusted contractor who specializes in renovations.

 

HOW TO BUY A MULTIGENERATIONAL HOME

Buying a home with family can be complicated––especially if you plan to jointly apply for a mortgage. However, depending on your financial resources, you may be surprised to find that it’s sometimes easier to qualify for certain mortgages as a group than if you tried to go it alone.⁷ 

Talk it over with a mortgage lender or broker and ask for advice on what’s best for your situation. We’d be happy to connect you with a professional who understands the nuances of co-buying. 

Technically, there’s no limit to the number of co-borrowers you can have, but some lenders may be more lenient with their lending requirements than others. For example, most conventional lenders will only work with a maximum of four borrowers for a single loan. If you want to buy a home with a larger number of co-borrowers, you may have to look to an alternative lender.⁷

Your credit will also be an important factor in determining your mortgage qualifications and what you can buy, so have everyone check it as soon as possible. Pulling your credit reports and scores will not only tell you where you stand. It will also alert you to correctable issues with your credit, such as mistakes on your credit reports or too much debt on your cards.⁸ 

As you discuss your homebuying budget and strategy, jointly consider the following:  

• Who will be on the mortgage? 
• What about the title?
• Would including everyone on the mortgage be beneficial for your mortgage rate?
• For those who don’t qualify for the mortgage or have a lower credit score, can you make other arrangements so that they can still financially contribute?

Next, consider potential tax and estate planning implications of your home purchase and what might happen if some family members later decide to drop out of the arrangement.⁹ 

To ensure you make an informed decision, it’s best to speak with a licensed professional. Ask us for a referral to a legal professional or an accountant who can advise you. 

 

BOTTOM LINE 

Multigenerational home buying has grown more popular for a reason: it’s a great way to combine resources and buy a supportive home for more than just your immediate family. It can also be a smart lifestyle choice, helping reduce loneliness and promote health and well-being.¹⁰ 

If you’re wondering whether multigenerational living is right for you, call us for a consultation. We’d be happy to walk you through potential options and help you envision your own full house. 

 

The above references an opinion and is for informational purposes only.  It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

Sources: 

1. National Association of Realtors –
   https://www.nar.realtor/blogs/economists-outlook/all-in-the-family-multi-generational-home-buying
2. Pew Research Center –
   https://www.pewresearch.org/social-trends/2022/03/24/financial-issues-top-the-list-of-reasons-u-s-adults-live-in-multigenerational-homes/
3. SSM – Population Health –
   https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5769098/ 
4. Better Homes and Gardens –
   https://www.bhg.com/what-to-look-for-in-a-multigenerational-home-8409277
5. Apartment Therapy –
   https://www.apartmenttherapy.com/multigenerational-homes-37412085 
6. Realtor Magazine –
   https://www.nar.realtor/magazine/real-estate-news/home-and-design/all-under-one-roof-trends-in-multigenerational-living 
7. Bankrate –
   https://www.bankrate.com/mortgages/how-many-names-can-be-on-a-mortgage/ 
8. Experian –
   https://www.experian.com/blogs/ask-experian/what-credit-score-do-i-need-to-buy-a-house/ 
9. Kiplinger –
   https://www.kiplinger.com/retirement/estate-planning-for-multigenerational-living-arrangements
10. Institute for Family Studies –
    https://ifstudies.org/blog/multigenerational-living-is-it-a-solution-for-our-aging-population

Selling your home quickly and at the right price takes more than just listing it online. To draw in potential buyers and secure top offers, your home needs to stand out. That’s where home staging comes in. By strategically preparing your home—through redecorating, repairing, and making it look its best—you can make a lasting impression and significantly increase its appeal.

The numbers speak for themselves: according to the National Association of Realtors, 81% of buyers’ agents report that staging makes it easier for potential buyers to envision themselves living in a home. Moreover, 44% of buyers’ and sellers’ agents say that staging can increase a home’s sales price, and 48% of sellers agents agree it shortens the time a house spends on the market.¹

You can choose to stage your home yourself with advice from your real estate agent or work with a professional stager. Whichever route you take, here are seven essential strategies to transform your home into a buyer’s dream.

 

Step #1: Declutter and Depersonalize

The first step in staging is to declutter and depersonalize your home. A recent survey of real estate agents found that this simple step can increase your home’s sale price by 3-5%.²

Ideally, you want to create a clean, neutral canvas where potential buyers can imagine their own lives. Remember that staging isn’t interior design—the goal isn’t to add personal, homey touches but to take them away.³ While you may love having plenty of comfy furniture, family photos, and unique knick-knacks, these items can distract potential sellers and make your home feel smaller.⁴ Be especially mindful to remove children’s toys and pet items. 

The task can feel overwhelming, but consider it a head start on packing for your move — and an opportunity to clear out things you no longer need. If you have a lot of belongings, renting a storage unit might be a smart way to keep things tidy while your home is on the market. 

 

Step # 2: Deep Clean and Repair

A sparkling clean home leaves a fantastic first impression. Deep clean every room, paying special attention to areas that are often overlooked, like baseboards, windows, and appliances. Even minor smudges, scrapes, or signs of pet hair can put off some buyers. Your goal? Make it look like no one has ever lived there!⁵ 

Minor repairs are equally important. Fix slight imperfections like chipped paint, regrouting tiles, and replacing worn hardware. These easy cosmetic updates make a big difference in how buyers perceive your home’s value. For example, refinishing hardwood floors can offer a 147% return on investment.⁶

Need help getting your home spic-and-span? Let us recommend a professional who can help.

 

Step #3: Pick Up a Paintbrush

While buyers may repaint after they move in, the color and condition of your walls still have a big impact on their impression of the home as a whole. Neutral tones like beiges and off-whites appeal to the widest range of buyers—and to the friends and relatives who are also weighing on purchasing decisions.⁷

If your home features bold colors or striking wallpaper, consider a repaint before you list. When choosing paint colors, make sure to think about how they’ll appear in listing photos and videos. Light, neutral shades can make rooms look brighter and more spacious.

Repainting is especially important in high-traffic areas like the kitchen. Painting outdated cabinets in white or a soft gray can also modernize your space.⁸

 

Step #4: Enhance Curb Appeal

First impressions matter, and your home’s exterior is the first thing buyers will see. That’s why 98% of agents believe that curb appeal is crucial to attracting a buyer.⁹ 

Boost your home’s curb appeal by power-washing the exterior and touching up your deck’s varnish.⁵ You might also consider repainting your front door. Research shows that a freshly painted front door in a classic shade like black or terracotta can increase offers by thousands of dollars.¹⁰

And don’t forget landscaping! Keep your lawn tidy, remove dead or dying plants, and consider adding seasonal flowers. Even standard lawn service can lead to a 217% return on investment.⁹ If you need assistance, we’re happy to offer a referral to landscapers in our area.

 

Step #5: Stage Key Rooms

When staging, concentrate on the rooms that matter most to buyers: the living room, primary bedroom, and kitchen. These spaces have the greatest influence on a buyer’s decision.¹ 

If you’re working with a professional stager, they may bring in furniture and decor.³ If not, make the most of what you have, and don’t worry about how you’d arrange furniture in real life. This is just about showing off the space. 

Arrange furniture to create an open, inviting flow.⁵ Use large rugs to make rooms appear bigger and ensure artwork complements rather than overwhelms the space.⁷ Add pops of color with fresh flowers or simple decor like pillows to bring warmth without personalizing the space too much.

 

Step #6: Put Your Home in Its Best Light

Lighting is key to creating a welcoming atmosphere in your home. Natural light in particular makes any room feel more airy and spacious, so it’s essential to make the most of it. 

First, remove heavy curtains or blinds — if a room feels bare without a window treatment, hang sheer curtains or light-filtering shades to invite the outdoors in. Next, take a look at the landscaping surrounding your home. If overgrown hedges or trees block windows, especially on the ground floor, consider cutting them back or removing them entirely to let in the sunshine. 

Of course, homes need more than just natural light — and it’s important to use a combination of types of lighting to suit different uses and moods. Experts recommend that each room have three light sources: ambient lighting (think ceiling lights or chandeliers), task lighting (like lamps or under-cabinet lights), and accent lights (like track lighting and picture lights).¹¹ If needed, replace outdated fixtures with more modern options.¹² Even swapping out lightbulbs can make a difference—opt for warm, 2700k bulbs to create an inviting glow.⁷

Have hard-to-reach windows or need help installing new lighting fixtures? We’re happy to refer a professional who can help.

 

Step #7: Show Off Your Work with Photography

These days, most buyers will first see your home online, making high-quality photos essential. According to the National Association of Realtors, 89% of agents agree that professional photos are critical to marketing a listing.¹ 

Depending on your home and market, you may also benefit from marketing your property with videos, virtual tours, and even virtual staging, where photo editors swap out furniture and colors to show how your home would look with different decor.

Talk to your agent about what makes sense for your situation, and work with them to hire professionals who can capture your staged home in its best light. When it comes time, treat the photo shoot like an open house—everything should be spotless, well-lit, and arranged to show off your home’s best features.

 

BOTTOMLINE

Whether or not staging is worth the investment depends on your home’s condition, your desired sale timeline, and your local market. Before committing to professional help or cosmetic upgrades, reach out for a free consultation. We can help you assess the best path forward and connect you with the best professionals to make it happen.

 

The above references an opinion and is for informational purposes only.  It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

 

References:

1. National Association of Realtors –
   https://www.nar.realtor/sites/default/files/documents/2023-profile-of-home-staging-03-30-2023.pdf 
2. Homelight –
   https://www.homelight.com/blog/how-to-clean-out-a-house-to-sell/ 
3. National Association of Realtors –
   https://www.nar.realtor/blogs/styled-staged-sold/6-things-home-stagers-wish-real-estate-pros-knew-about-staging 
4. Coldwell Banker –
   https://blog.coldwellbanker.com/home-staging-mistakes-to-avoid/ 
5. Zillow –
   https://www.zillow.com/learn/how-to-stage-house-to-sell/ 
6. NAR –
   https://www.nar.realtor/magazine/real-estate-news/stub-for-148394 
7. House Beautiful –
   https://www.housebeautiful.com/design-inspiration/real-estate/a61712558/how-to-make-your-house-sell-over-asking-according-to-professional-home-stagers/ 
8. HGTV –
   https://www.hgtv.com/lifestyle/real-estate/15-secrets-of-home-staging-pictures 
9. National Association of Realtors –
   https://cdn.nar.realtor//sites/default/files/documents/2023-03-remodeling-impact-outdoor-features-03-17-2023.pdf  
10. Zillow –
    https://www.zillow.com/learn/what-color-paint-front-door/  
11. Martha Stewart –
    https://www.marthastewart.com/2126982/how-to-layer-your-lighting
12. Martha Stewart –
    https://www.marthastewart.com/outdated-lighting-trends-8421744

A recent survey found that more than half (52%) of American homeowners have a renovation project planned this year.¹ If you’re among them, you know that embarking on home improvements can be both exciting and daunting. According to the survey, the median renovation budget is around $15,000, so you’re probably investing a significant amount—and you’ll want to ensure your project’s success.¹

One of the most critical decisions you’ll make is choosing the right contractor to bring your vision to life. However, many homeowners fall into common pitfalls during this process, leading to stress, financial strain, and subpar results. 

In this guide, we’ll explore seven mistakes to avoid when hiring a contractor to ensure your project runs smoothly from start to finish.

 

1. SKIPPING THE RESEARCH PHASE

A common mistake homeowners make is rushing into hiring a contractor without proper research. But to ensure the success of your renovation, it’s crucial to take time to meet with multiple candidates and educate yourself on best practices surrounding your project.

If you bypass the interview process, you miss the opportunity to evaluate different approaches, pricing, and expertise. This can result in overpaying or hiring someone whose skills and vision do not align with your needs.

Neglecting to research the processes and steps involved can also leave you vulnerable. Not only does it make it more difficult to ask the right questions, but you also risk hiring unqualified professionals or settling for subpar work.

What To Do Instead:

• Educate Yourself — Read up or watch YouTube videos to gain a better understanding of best practices surrounding your project. 
• Interview Multiple Contractors — Search for and interview at least three contractors who specialize in the type of work you need.
• Ask Specific Questions — Inquire about the processes and materials each candidate will utilize.
• Seek Recommendations — Get referrals from trusted sources like friends, neighbors, and real estate professionals. We’d be happy to share a list of referrals!

 

2. CHOOSING BASED SOLELY ON PRICE

Once you’ve interviewed candidates and reviewed their proposals, it’s time to choose your favorite. But don’t make the mistake of rushing to the lowest bid.

While it’s natural to want to save money, selecting a contractor based entirely on price can be a costly mistake. Extremely low bids may indicate cut corners, subpar materials, or hidden costs that will surface later.

According to the National Association of the Remodeling Industry, when evaluating bids, make sure you’re comparing “apples” to “apples” and considering factors like quality, timeline, and scope.² Are they fully licensed and insured? How long have they been in business? Do they warranty their work?

What To Do Instead:

• Consider Overall Value — In addition to price, look at experience, reputation, and quality of work.
• Ask for Detailed Breakdowns — Understand what’s included and what’s not in each bid.
• Be Wary of Low Bids – Bids that are significantly lower than others may be too good to be true.
• Invest in Quality — Remember that quality work comes at a fair price, and investing in a reputable contractor can save you money in the long run by avoiding costly mistakes or repairs.

 

3. NEGLECTING TO CONFIRM CREDENTIALS & INSURANCE

When you’ve established a good rapport with a contractor, it’s natural to want to believe the best in them. But neglecting to check references and verify licensing and insurance could come back to haunt you.³

Hiring an untrained or unlicensed contractor puts you at risk for safety and code violations, not to mention shoddy workmanship. Without proper insurance, you could be left footing the bill for costly repairs, legal issues, or even medical bills if someone gets hurt on the job.⁴ 

Skipping out on a reference check can be equally problematic. It’s your best opportunity to ensure that their promises and your expectations line up with reality.

What To Do Instead:

• Verify Licensing and Insurance — Confirm that the contractor is licensed according to local requirements and verify insurance, including general liability and workers’ compensation coverage.
• Check Reviews — Read online reviews and confirm that the business is in good standing with the Better Business Bureau and other relevant trade groups.
• Call References — When contacting references, ask questions and request to see photos of the contractor’s completed projects.
• Visit Job Sites — If possible, visit a current job site to observe the contractor’s work in progress and interaction with clients.

 

4. PROCEEDING WITHOUT A WRITTEN AGREEMENT

A handshake deal might seem friendly and straightforward, but it’s a recipe for misunderstandings and potential legal issues. Verbal agreements are difficult to enforce and leave room for miscommunication about project scope, timelines, and costs.⁵

Instead, you should have a signed contract in place before any work begins.³ Paperwork can be tedious, but don’t skip the important step of carefully reading over your contract, asking questions, and pushing back on any terms that make you uncomfortable.

Don’t forget to ask for payment receipts and document any change orders or issues that arise throughout the project, as well.

What To Do instead:

• Insist on a Written Contract — Outline all aspects, including scope, materials, timeline, payment schedule, warranty information, and a process for handling change orders.
• Understand and Agree — Don’t sign anything until you fully understand and agree to all terms.
• Keep Documentation — Once you’ve made your final payment, request a lien waiver or receipt marked “Paid in Full” to keep on file for legal and tax purposes.⁶

 

5. PAYING TOO MUCH UPFRONT

Another common misstep is paying a large sum upfront or the full cost of the project before the work is completed. This can leave you vulnerable if the contractor fails to complete the work or disappears with your money. 

According to the home services platform Angi, deposits typically range between 10% and 33% of the total project cost.⁷ The remaining payments should be tied to progress milestones outlined in your contract. 

Construction attorneys caution against paying a greater share of the project cost than the percentage of the work that’s been completed.³ If you end up dissatisfied with the outcome, you’ll have much less leverage if you’ve already paid.

What To Do Instead:

• Be Cautious — Avoid contractors who demand large upfront payments or cash-only deals.
• Establish a Payment Schedule — Tie payments to project milestones and stick to them.
• Pay Only Upon Completion — Never pay in full until the project is completed to your satisfaction and all required inspections have been passed.

 

6. FAILING TO GET NECESSARY PERMITS

Skipping the permit process might seem like a way to save time and money, but it can lead to serious consequences. Without the proper permits, you risk running afoul of local building codes and regulations, which could result in fines, forced removal of work, or even legal action.⁸ 

Additionally, unpermitted work might compromise the safety and structural integrity of your home, potentially leading to hazardous conditions or diminished resale potential. Homeowners may also find themselves without recourse if issues arise later, as insurance companies often exclude coverage for unpermitted renovations.⁸ 

If your community has a homeowners association (HOA), don’t forget to check their requirements, as well. You may need prior approval to make modifications to your home or yard. HOAs have the power to enforce these restrictions with fines, and they can even put a lien on your home—so don’t skip this important step.⁹

What To Do Instead:

• Discuss Permits — Talk about permits and HOA requirements with your contractor before work begins.
• Include Permits in the Contract — Ensure that obtaining necessary permits and approvals is part of your contract.
• Verify Inspections — Make sure all required inspections are completed during the project.
• Keep Records — Keep copies of all permits, HOA approvals, and inspection reports for your records.

 

7. IGNORING RED FLAGS AFTER THE PROJECT HAS STARTED

Sometimes a contractor can check all the right boxes—until the work begins. Unfortunately, red flags that are spotted mid-project can be especially challenging to address.

If you’ve already paid a substantial amount or had a portion of your home demolished, you may feel trapped in a bad situation. However, if there are major problems that the contractor is unwilling to address, ignoring them can make things exponentially worse.

Don’t be afraid to seek legal or professional advice if issues persist. Taking immediate, informed, and decisive action is crucial to safeguarding your investment and ensuring the project’s ultimate success.¹⁰

What To Do Instead:

• Review Your Contract — Make sure you thoroughly understand your rights and the agreed-upon terms.
• Document Issues — Keep detailed records, including dates, descriptions of problems, photographs of subpar work or materials, and any communications with the contractor.
• Communicate Professionally — Arrange a meeting to discuss your concerns, ensuring you remain calm and professional while clearly expressing your expectations.
• Request a Resolution Plan — Ask for a plan to address the issues, set a timeline for resolution, and put everything in writing to ensure you’re both on the same page.
• Seek Advice — If the contractor is uncooperative or dismissive, consider seeking advice from a legal professional. You could also contact your local licensing board or consumer protection agency for guidance.

 

BOTTOMLINE

Hiring the right contractor is crucial to the success of your home improvement project. By avoiding these common mistakes, you can significantly increase your chances of a smooth and successful renovation experience. 

Remember, taking the time to thoroughly vet contractors, communicate clearly, and plan carefully will pay off in the long run. Your home is likely your most significant investment, and it deserves the care and attention that comes with making informed, thoughtful decisions about who works on it.

If you’d like help finding a contractor or want to know how planned improvements could impact your home’s resale potential, reach out for a free consultation!

 

The above references an opinion and is for informational purposes only.  It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

Sources:

1. USA Today –
   https://www.usatoday.com/money/homefront/moving/home-renovation-statistics/
2. National Association of the Remodeling Industry –
   https://remodelingdoneright.nari.org/Homeowner-Resources/Questions-to-ask/How-to-select-a-remodeler
3. The Washington Post –
   https://www.washingtonpost.com/home/2024/07/08/how-to-find-good-honest-contractor/
4. MarketWatch –
   https://www.marketwatch.com/guides/insurance-services/home-insurance-during-renovations/
5. LegalZoom –
   https://www.legalzoom.com/articles/oral-contracts-do-they-carry-any-weight
6. Better Business Bureau –
   https://www.bbb.org/all/home-improvement/your-home-improvement-contract
7. Angi –
   https://www.angi.com/articles/how-much-should-i-pay-general-contractor-prior-starting-job.htm
8. Bob Vila –
   https://www.bobvila.com/articles/remodel-without-permit/
9. Bankrate –
   https://www.bankrate.com/real-estate/hoa-homeowners-association-rules/
10. Angi –
    https://www.angi.com/articles/how-complain-contractors-effectively.htm

Whether you’re putting your home on the market in a few weeks or a few years, strategic upgrades can make all the difference. But you don’t have to embark on a major remodel to make a significant improvement.

Even minor updates can have a big impact on your home’s aesthetic, and certain renovations can even boost its future sale price.

From curb appeal to interior updates, here are seven weekend projects that will enhance your home’s current charm and long-term value.

 

1. Freshen Your Front Door

Is your front door looking a little tired? A new coat of paint can make your home more inviting to today’s guests and tomorrow’s buyers.

But before you grab that paintbrush, think carefully about your choice of hue. According to a recent study, the color of your front door can boost—or lower—your home’s sale price by thousands of dollars.¹

Cement gray, for instance, was found to decrease purchase offers by an average of $3,365. Going too bold can also deter home shoppers. The safest bets? Classic black or a mid-tone brown are proven winners.¹

Need help choosing the perfect paint or stain for your front door? We’d be happy to offer advice or refer you to a design professional for assistance.

 

2. Upgrade Your Hardware and Lighting

It’s easy to overlook dated cabinet pulls or dingy light switches in your own home. But those seemingly minor details can leave a bad impression on visitors.

Swapping out old hardware for modern alternatives can easily and affordably elevate your space. New cabinet handles, for example, are relatively inexpensive and require just a few minutes and a screwdriver to install. To maximize the longevity of your update, consider classic shapes and finishes like brass knobs or nickel cup pulls.²

Take a look at your light fixtures, too. Try replacing an out-of-style chandelier with a more contemporary option. Even just updating your lampshades and lightbulbs can create a brighter, more welcoming space.  Additionally, many experts agree that high-quality lighting can show off your property’s best features when it comes time to sell.³

Uncomfortable changing a light fixture yourself? Contact us for a referral to a licensed electrician for help.

 

3. Update Your Bathroom Fixtures

Bathrooms can show their age quickly, but a few inexpensive updates can take years off in just a few hours. And since many buyers will be more drawn to a home that feels clean and modern, even small changes can make a big difference. 

According to one study, for every dollar you spend on minor cosmetic upgrades—like swapping out the bathroom mirror, upgrading hardware, or refinishing cabinets—you’ll see a $1.71 increase in your home’s value.⁴ 

Bathroom hardware is a great place to start. Consider updating your faucets and showerheads (we recommend lower-flow options to save money and the environment), and don’t forget about towel racks, toilet paper holders, and any other fixtures that look worn or discolored.⁵  

If you want to stay on-trend, the most popular faucet finishes are currently black, nickel, and pewter. Spa-like upgrades, like steam showers and rain showers, are also in high demand.^5,6

If your existing vanity is in poor condition, installing a new one is a slightly bigger project, but it has a huge impact on the look and feel of the room. Reach out for a list of retailers who carry high-quality but affordable prefabricated options.

 

4. Give Your Kitchen Cabinets a Makeover

The kitchen is often referred to as the heart of the home, so it’s no surprise that an updated kitchen is a top priority for current homeowners and potential buyers alike.^7,8 If your kitchen cabinets are from another era, that’s probably the first place you’ll want to start.

Fortunately, you don’t need to commit to the hassle and expense of installing new cabinets if your current ones are in good shape. Instead, consider painting them. 

Not only is it more affordable and eco-friendly than replacement, but Better Homes and Gardens reports that this option typically offers a greater return on investment.⁹ When it comes to choosing the right color, warm neutrals and shades of green and blue are especially on-trend.¹⁰

Thinking about painting your cabinets yourself? Be sure to plan in advance and block out at least a couple of days for the project. You’ll need to take off all your cabinet doors and hardware and thoroughly cover your kitchen appliances and counters. You’ll also need to wait for the doors to dry before reassembling your kitchen.¹¹ 

If you’re not confident in your painting skills, hiring a professional will still be far less expensive than installing new cabinets. We’re happy to refer you to capable painters in our network.

 

5. Look at Your Landscaping

First impressions matter, and putting some work into your home’s exterior can make a big difference in how your guests and neighbors view it. Curb appeal can also make or break a potential buyer’s perception of your home—and significantly impact their offer. 

According to HomeLight, buyers will pay 7% more, on average, for a home with good curb appeal. And in some areas, the return on investment for improvements can exceed 300%.¹² 

One of the best ways to improve curb appeal is through landscaping—and it doesn’t have to be elaborate. First and foremost, focus on keeping things neat, tidy, and welcoming. Mow your lawn, refresh any mulch, prune overgrown shrubs, and add pops of color with flowers. To take things up a notch, add outdoor lighting and plant perennial flowers along the sides of your walkway. 

When you’re ready to get started, reach out for a list of our favorite local garden centers where you can find all the necessary supplies.

 

6. Refinish Your Wood Floors

For many buyers, wood floors are a huge selling point. Unfortunately, they also tend to get scuffed and worn over time, especially if you have kids or pets. 

The good news? If your wood floors could use a touch-up, it’s well worth the time and cost. According to the National Association of Realtors, it’s the project that pays off the most in terms of resale value, with an average 147% return on investment.¹³

If you have a few days to devote to your floors, you can rent the necessary equipment from a local hardware store. While you’re there, pick up some basic supplies, like a putty knife, paintbrushes, sandpaper, and stain.¹⁴ And if you want to modernize your space, opt for a lighter wood tone, which is the current trend.¹⁵

Of course, we’re also happy to provide the names of trusted professionals who can tackle the work for you.

 

7. Clean or Replace Your Grout

Let’s face it: Whether it’s on a kitchen floor or a bathroom wall, grout gets grimy over time, even with regular cleaning. Fortunately, refreshing your grout is a relatively simple and affordable project that can yield impressive results.

According to Apartment Therapy, grout that’s in poor condition is often one of the first things a potential buyer notices when they tour a bathroom.¹⁶ Fresh, clean grout, on the other hand, makes your bathroom sparkle—and that can pay off in a big way in terms of buyer’s perceptions. 

If your grout is simply stained, a focused cleaning session can make a big difference. Try a specialized product or a simple mix of baking soda, water, and hydrogen peroxide.16 If the grout is cracked, crumbling, or stained beyond repair, it’s time to replace it. Luckily, the right tools make that a very doable DIY project, even if it can get messy—and it’s a lot easier and less expensive than retiling.¹⁷

No time to tackle it yourself? Reach out for a recommendation of a pro who can help.

 

CHOOSING THE PROJECT THAT’S RIGHT FOR YOU

Embarking on home improvements can be exciting, but it’s essential to choose projects that align with your goals, budget, and skill level. Whether you’re preparing to sell your home or simply want to enhance its value, there are projects to suit every homeowner. 

If you’re unsure where to start, don’t hesitate to reach out for personalized advice and recommendations. With the right approach, you can unlock your home’s full potential and enjoy the rewards for years to come.

 

The above references an opinion and is for informational purposes only. It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

 

Sources:

1. Zillow –
   https://www.zillow.com/learn/what-color-paint-front-door/ 
2. Martha Stewart –
   https://www.marthastewart.com/kitchen-hardware-trends-8563764
3. The Spruce –
   https://www.thespruce.com/expert-home-lighting-tips-8302722
4. Zillow –
   https://www.zillow.com/learn/roi-for-bathroom-remodel/
5. Forbes –
   https://www.forbes.com/home-improvement/bathroom/easy-quick-bathroom-updates/ 
6. Real Simple –
   https://www.realsimple.com/nkba-bathroom-design-trends-2024-8403788 
7. Houzz –
   https://www.houzz.com/magazine/2024-u-s-houzz-and-home-study-renovation-trends-stsetivw-vs~174492310
8. National Association of Realtors –
   https://www.nar.realtor/magazine/real-estate-news/survey-buyers-judge-a-home-by-its-kitchen
9. Better Homes and Gardens –
   https://www.bhg.com/kitchen/remodeling/planning/kitchen-upgrades-cost-value/ 
10. House Beautiful –
    https://www.housebeautiful.com/room-decorating/colors/g46105350/kitchen-paint-color-trends-2024/
11. HGTV –
    https://www.hgtv.com/design/rooms/kitchens/best-way-to-paint-kitchen-cabinets 
12. Homelight –
    https://www.homelight.com/blog/what-upgrades-increase-home-value/ 
13. National Association of Realtors –
    https://www.nar.realtor/magazine/real-estate-news/stub-for-148394
14. Architectural Digest –
    https://www.architecturaldigest.com/story/refinishing-hardwood-floors 
15. Houzz –
    https://www.houzz.com/magazine/5-new-trends-in-flooring-for-2024-stsetivw-vs~173560747
16. Apartment Therapy –
    https://www.apartmenttherapy.com/outdated-bathroom-features-37131219
17. Better Homes and Gardens –
    https://www.bhg.com/how-to-regrout-tile-7554710