Whenever your top New Orleans real estate agent has the opportunity to come list your home for sale, one of the first questions we will ask is “Have you made any home improvements since you purchased the house?” https://www.nolalending.com/loan-officers/lender.html?cId=11237&title=courtlin-donner-noggerath-mandeville
Almost 100% of the time, people tell us YES! But, what they start naming off are not quite home improvements. It tends to be stuff they just wanted to do but didn’t really add any value. Which, is totally fine! But as New Orleans homeowners, you should know what is and isn’t considered a true upgrade.
These items are not considered home improvements:
I appreciate the fact that you bought top of the line paint and spent weeks repainting the entire house. It will certainly help us sell your house faster (as long as it’s not neon orange). But, it doesn’t add any actual value to the home.
You added a fire pit and some landscaping. It looks great and I bet the new owner is gonna love it. However, it’s not actually an improvement. It’s just something nice you wanted in the yard.
YEP. I’m gonna give you some bad news right now. A pool does not always add value to a house. In most areas in New Orleans, it may give you about an extra $5k in value – at most. But if the person who really loves your house also hates that pool – they don’t see it as adding any value.
Also, to install a pool in your yard will start at $40k. Get it because you like it and know you will get enjoyment from it. Don’t get it in hopes of recouping the money you spent.
Fixed Plumbing / Termite Damage, etc.
If your plumbing was backed up and you have to fix it – that’s the cost of being a homeowner. This is NOT considered “new plumbing” and cannot be marketed as such.
The same goes for old termite damage, a faulty wire you had changed or adding a french drain to a yard that gets waterlogged.
You have to do these things to maintain your New Orleans property.
What are home improvements?
These are the things that actually add value to your home. (Don’t bank on always making dollar for dollar back though)
New Plumbing / New Electrical / New Roof
These items actually give you value, helps reduce the cost of homeowner’s insurance, and are great for helping your home sell faster.
Updated bathrooms and kitchen
The two most expensive rooms for people to update are the kitchen and bathroom. You taking out the old wallpaper and just painting is not an update. Updating means new vanity, sink, tub, tile, stove, countertops, etc.
There is a reason those houses sell faster and for more money. No one wants to go through the work themselves, but they are willing to pay for it. Just make sure your contractor finished all the punch-list items at the end.
Message us below or text us to come by and tell you what your home is worth!