Top 5 Home Improvements That Boost Value

Credit: Zac Gudakov - Unsplash As tight inventory and higher interest rates impact affordability, many current homeowners are staying put in their homes. Instead of looking elsewhere to find their dream home, most homeowners (65% according to a recent Thumbtack survey) are opting to create it where they are. That means home renovations are top of mind. We’ve compiled a list of the Top 5 Home Improvements you can do to boost your home’s value.   Energy Upgrades: Credit:Raze Solar - Unsplash Improving your home’s energy efficiency has multiple benefits, from utility cost savings to adopting a greener lifestyle. With high inflation and increasing concerns about climate change, homebuyers are considering energy efficiency as a benefit in their home purchase. Also, there are government subsidies and tax benefits that can take some of the cost burden off of homeowners.   Some upgrades to consider include: Adding insulation to attic spaces Replacing old and/or drafty windows Switching to LED lightbulbs Installing low-flow toilets and shower heads Installing an electric charging outlet for electric vehicles Installing solar panels (check in with state guidelines for cost vs. benefit as each is different) Replacing old appliances with Energy Star certified appliances Redo landscaping with xeriscape or more drought resistant landscape that requires less maintenance and watering   Enhancing Outdoor Spaces: Credit: Collov home design - UnsplashThe COVID-19 pandemic reshaped the way people utilized and enjoyed their homes. During lockdowns, some homeowners saw an opportunity to maximize their space, both indoors and outdoors. This led to a rise in patio/deck additions and landscape overhauls. Although lockdown restrictions are gone, the trend of enhancing outdoor spaces is not. Consider adding a pergola to a patio for a covered area to enjoy meals under. Wood decks on average have a 90.2% ROI, making them an excellent choice when looking to invest in your outdoor space. Need more budget-friendly ways to boost value without breaking the bank? Consider adding potted plants, cafe string lights, and nice patio furniture to create an inviting outside oasis.   Minor and Major Bathroom Remodels: Credit: Hemant kanojiya - UnsplashBathrooms have long been a go-to when it comes to home improvements. These smaller spaces can be fairly inexpensive to upgrade while delivering a boost in your home’s value. Minor bathroom remodels on average have 102% ROI, meaning for every $100 you spend in upgrades, you’ll get $102 back. A simple fresh coat of paint and new light fixtures can transform your bathroom for a relatively inexpensive amount. These are also projects homeowners can do themselves, saving them more money and increasing their investment. Current trends stem from the pandemic, where homeowners were looking to add a bit of tranquility to their homes. Spa-like amenities, including relaxing soaking tubs, stone surfaces, and steam rooms have gained popularity over the past few years.   Minor and Major Kitchen Remodels: Credit: Roam in color - Unsplash Kitchens are the heart of a home. As trends change, they have become more than just a place to prepare meals. They are a place to gather, do homework, take Zoom calls, and entertain. This need for versatility is making homeowners look at the bigger picture to expand their kitchens into living spaces and add more seating options. These upgrades are some of the most costly in home renovations, as kitchens are regularly used and need more durability in finishes and design. Quality cabinetry with thoughtful storage solutions, smart appliances, and elegant surfaces are top choices when it comes to remodeling with your home’s value in mind. Kitchen renovations tend to have a 90-92% return on investment.     Boost in Curb Appeal: Credit: Zac Gudakov - UnsplashOne of the best ways to boost your home’s value is boosting its curb appeal. This long-standing strategy in real estate has helped many homeowners maximize their home’s presence on the market and ultimately their profit when selling. Your home’s curb appeal is its first impression, so take care to make it a good one! The extent of your exterior upgrades can range from simply adding potted plants or replacing exterior lighting to more significant structural changes/additions (like adding a front porch). Clean siding (whether power washed or freshly painted) instantly freshens up the exterior. Consider painting or replacing your entry door to modernize and liven your curb appeal. Neat landscaping and well-designed gardens also add value to your home. Consider consulting a landscape designer to complement your home with a beautiful yard!

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What You Need to Know About Your Property Tax Assessment

Ada County homeowners will be receiving their property tax assessments in early June. The Ada County Assessor's Office is required by law to estimate the full market value of all property within the county for property tax purposes and then notify property owners of our market value estimates. The assessment notice is not a bill. The actual property tax bill will come out at the end of Fall. Go to the Ada County Assessor’s website for more information. What’s in the Notice The mailed paper assessment looks like the sample above. Some areas to note: Parcel number and address of assessed property The appraiser’s contact information The appeals deadline The current description The current year’s value Taxing district information: These are the entities that will be receiving taxes. They typically are city and county services like police/fire, highway districts, and public schools. The bar graphs show the historical assessed values and taxes. A stair step increase from year-to-year aligns with the increases in home values every year.  What Do the Taxes Cover? The taxing districts are listed at the bottom of the assessment. In Boise, an example property includes the following assessments (taxing districts may vary by address and area of town): Ada County Medical/Emergency Ada County Highway District School District #1 Boise City Mosquito Abatement College of Western Idaho They also may look a little different depending on your city (i.e. City of Meridian, Eagle, or Hidden Springs). These entities use public funds to operate, including maintaining roads, schools, and emergency services. How Taxes Are Calculated A common misconception about tax assessments is that the percentage increase in the property’s value directly correlates with the tax amount percentage. Homeowners may not expect to see their property tax bill rising at the same percentage as their home’s value, but should expect an increase in their contributions. The assessments take into account market value changes to calculate taxes. The increase in the assessed value represents the property owner’s ‘slice’ of the overall property tax pie.  Appeals If you disagree with your property tax assessment, you can file an appeal by the deadline listed on your notice. When would you make an appeal? If the current market value of your property (calculated based on recent sales in your area) is lower than what the property assessment states, you may consider an appeal. It is unlikely that appeals made on properties that have a current market value higher than the property assessment notice will be granted. Appeal forms are available online or at the Ada County Assessor’s Office, 190 East Front Street, Suite 107 or from the Ada County Commissioner’s Office, 200 W. Front St., 3rd Floor, Boise ID 83702. Completed forms must be filed with the Ada County Commissioner’s Office on or before the 4th Monday of June at 5:00 p.m. The Commissioner’s office will schedule a date and time for your hearing.    

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Spruce Up Your Home’s Curb Appeal

  Credit: Doug Peterson Photography When it comes to selling your home, first impressions matter… and we could argue that they matter a whole lot more than you realize. Why is curb appeal so important? Your home’s exterior and grounds set the tone for potential buyers. The more charming, well maintained, and inviting it is, the more likely a buyer will be drawn to it. By enhancing your home's curb appeal, you not only make it more attractive but also increase its market value. We share with you our expert tips on sprucing up your home’s curb appeal. #1 Landscaping: Think of your curb appeal as a painting: your home is the artwork and the landscaping is the frame. Well- trimmed landscape, vibrant flowers, and lush green grass create a beautiful and neat frame around the house.  Our top recommendations: Plant colorful foliage in garden beds, or place potted plants around the front entry. Pro-tip: select plants that are seasonally and geographically appropriate for your area. In Idaho, drought-tolerant plants are a bonus (and must) in our warm and dry climate. Top garden beds with fresh mulch Remove weeds and other debris from garden beds Trim trees around the home so they are not touching the exterior or roof Ensure sprinkler systems are in working order Credit: Doug Peterson Photography                                             #2 Freshen Up Exterior Finishes: Now that you’ve created the perfect frame, focus on the painting itself. Your home’s exterior is important to the overall appeal. A maintained exterior shows the home’s condition at a glance. When a home’s exterior is kept up, buyers will translate the whole property as well cared for. Our top recommendations: Address siding issues. Replace damaged siding, scrape peeling paint, powerwash dirt and grime, and/or repaint the exterior. Wash windows Check for broken/leaking gutters and replace as needed Replace outdated fixtures and hardware. Updating exterior light fixtures and address numbers are a lower-cost upgrade that has a big impact. Credit: Doug Peterson Photography   #3 A Grand Entrance: The entryway is the focal point of your home’s curb appeal. This area needs special attention as this will be where buyers cross over the threshold into their potential ‘dream home.’  Our top recommendations: Repaint the front door. A fun (and complimentary) color draws the eye to the home’s entry. If painting the door is not possible, consider adding color through potted plants. Place potted plants or hanging baskets on either side of the entrance Add a clean doormat that complements the home’s style If you have a porch, place a cafe table, chairs, and fluff with outdoor pillows and a refreshment setting on the table to craft a relaxed atmosphere that buyers can see themselves enjoying. Credit: Doug Peterson Photography   #4 Create Outdoor Living Spaces: Highlighting outdoor living spaces is an excellent way to increase your home's appeal. In the post-pandemic market, buyers are actively looking for enhanced outdoor spaces to enjoy fresh air. Our top recommendations: Stage your patio/deck spaces with comfortable furniture and accessories Fire tables and firepits elevate patio spaces and create a cozy environment Add cafe lighting above patio/deck spaces for ambiance Remove covers from grills/outdoor furniture and open up patio umbrellas If you have a pool/spa, open the pool and ensure it is cleaned out and serviced  Credit: Doug Peterson Photography   #5 It’s All in the Details: Little details may not make or break a sale, but they can certainly add up. Take care to address these small (and easily overlooked) areas: Remove cobwebs (especially entryways) Hide trash bins/cans Pressure wash sidewalks and patios Park vehicles away from the home or in the garage Keep the garage tidy Blow leaves and other debris from collecting in corners Remove yards signs (i.e. political endorsements) Credit: Doug Petersen Photography By implementing our expert tips to spruce your home's curb appeal, you're not only making a positive first impression but also increasing the home’s value. Well-maintained landscape, fresh exterior finishes, an inviting entryway, relaxing outdoor spaces, and attention to detail can make all the difference when it comes to attracting potential buyers and securing a top dollar return on your investment. Remember, a little effort and creativity can go a long way in transforming your home's exterior into an irresistible selling feature! If you’ve been thinking about selling your home, learn more about our full-service client concierge program. Our team of dedicated professionals is here to help you with these recommendations and will coordinate the heavy lifting for you. Let us take care of the details, so you can focus on what matters most to you. Call us at (208) 870-8292 to schedule a preliminary consultation.    

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