Utah homeowners enjoyed sub-4% mortgage rates until late 2022. However, with the national average 30-year rate now circling 7%, enhancing home value through well-chosen renovation projects has never been more critical. That is, if you want your house to sell fast AND for top dollar. Analysis taken from the site Angi by Axios Salt Lake reveals that exterior projects dominate the top ROI-generating renovations. In Salt Lake, for example, a front door replacement averaging $580 can significantly enhance curb appeal. Similarly, a $1,700 investment in a new garage door offers a 94% ROI, making it a top contender for cost-effective exterior upgrades.
Of course, if ANY renovation projects beyond a coat of paint sound too big to take on, you could sell your house as is to cash buyer like us. If the extra work doesn’t scare you off though, we know great ways to increase resale value (it is, after all, our specialty).
Intelligent Ways to Increase the Resale Value of Your Home
Angie Hicks of Angi advises homeowners to align renovation projects with their occupancy plans. For long-term residents, indulging in a dream kitchen remodel, which in Salt Lake can average $24,000, is a worthy investment. However, with a 72% ROI, those planning to sell soon might consider prioritizing other high-ROI, lower-cost projects as an alternative.
Here’s a breakdown of top projects and their ROI::
- Garage Door Replacement (94% ROI): Enhances aesthetic and functional appeal. In Salt Lake, expect an investment of about $1,700.
- Manufactured Stone Veneer Installation (92% ROI): Boosts curb appeal; national average cost is $11 per square foot.
- Minor Kitchen Remodel (72% ROI): Opt for modern, energy-efficient appliances and neutral designs to appeal to a broad buyer base; local average cost is $24,000.
Navigating Renovations Amidst Rising Interest Rates
Higher interest rates translate to costlier home equity lines, making ROI-centric renovations pivotal. Basics like a new roof or A/C are expected by buyers, so focus on projects that offer both aesthetic and financial value.
Actionable Tips for Maximizing ROI
- Consider the Neighborhood: Align renovations with neighborhood standards. Avoid over-personalization or over-upgrading.
- Invest in Curb Appeal: Prioritize the home’s exterior. In addition to door replacements, consider landscaping and paint refreshes. These not only increase home value but make the property more attractive to potential buyers.
- Neutral Tones Win: If selling is on the horizon, opt for neutral tones to cater to a variety of buyer preferences, ensuring your home appeals to the widest audience possible.
Increasing your home’s resale value in Salt Lake requires strategic investments in high-ROI renovations, especially amidst rising mortgage rates. Focus on exterior improvements, be mindful of the local real estate landscape, and tailor your renovation strategy to your long-term occupancy plans for optimal financial and aesthetic returns.
Xeriscapes: A Sustainable Approach to Enhancing Curb Appeal
While traditional renovations continue to hold significant value, the integration of sustainable and eco-friendly landscaping options like xeriscapes is emerging as a game changer in boosting home resale value in Salt Lake.
Four Proven Xeriscape Strategies:
- Simplicity in Planning: Avoid the trap of overplanning, which often leads to a paralysis of choice. While the allure of designing a garden with perfectly timed blooms, varied textures, and heights is strong, the focus should pivot to practical choices. Concentrate on plants’ sun and water needs to ensure they thrive. Consider the aesthetic appeal of foliage texture and incorporate ornamental grasses for a refined look.
- Leveraging Localscapes: Localscapes emerges as a trusted resource for design inspirations, especially for homeowners keen on reducing lawn space while retaining some grassy areas. Their pragmatic recommendations, coupled with alternative plant options, ensure that your garden remains vibrant and adaptive to availability at local nurseries.
- Seasonal Planting Strategy: Ditch the idea of a one-time nursery visit. A diverse and resilient xeriscape is built over time, with mid-summer and fall offering a plethora of plant options. When temperatures are below 100°, it’s an opportune time to enhance your garden’s diversity, laying the groundwork for a visually appealing and sustainable outdoor space.
- Collaborate with Local Nurseries: Don’t hesitate to request specific plants from your local nurseries. Their access to a broader network of wholesalers can not only meet your specific needs but also signals a growing demand for diverse, resilient, and sustainable plant options in the region.
Incorporating a xeriscape into your home’s exterior not only adds a unique aesthetic touch but also speaks to a commitment to sustainability, a feature increasingly attractive to modern buyers. It’s an investment that pays dividends in enhancing your home’s curb appeal, contributing to water conservation, and ultimately, boosting resale value in the competitive Salt Lake real estate landscape.
Sustainable Landscaping and Ground Cover Alternatives
Maximizing your home’s resale value in Salt Lake requires a well-rounded approach, encompassing both interior renovations and the aesthetics of your home’s exterior. In an era where sustainability is not just appreciated but expected, the introduction of xeriscapes and low-water ground covers becomes a key strategy in enhancing both the environmental and monetary value of your property.
Low-Water Ground Covers: An Eco-Friendly Alternative
As the season winds down, the opportunity to replace traditional grass with low-growing groundcover plants becomes an actionable strategy to conserve water and maintain a vibrant landscape. Traditional turfgrass, especially the common Kentucky bluegrass found in Utah, is known for its water-consuming nature, making the shift to low-water alternatives both a sustainable and economically sound choice.
- Creeping Thyme: A versatile choice that stands up to foot traffic, making it ideal for spaces between stepping stones. Varieties like Red Creeping Thyme offer glossy, dark green leaves that turn purplish in winter, adorned with dark pink flowers in midsummer. Woolly Thyme, a resilient alternative, lacks flowers but compensates with a thicker, lighter green foliage.
- Sedum: A succulent offering a variety of colors and textures. The resilience and aesthetic appeal of sedum make it a favorite. The “rooftop” sedum mixes, combining different hues and textures, are particularly appealing, offering a colorful, low-maintenance ground cover solution.
- Sulphur Buckwheat: Native to Utah, this plant is renowned for its resilience and year-round appeal. The dark green leaves turn reddish to purple in fall and winter, making it a visually appealing choice across seasons. However, its height during blooming season makes it more suitable for areas away from paths.
- Pink Pussy Toes: A Utah-native plant that, despite its preference for higher elevations, has shown remarkable resilience in various conditions. Its tight ground hold and late spring flowering make it a unique addition, especially when aiming for a contrast in garden color schemes.
Our Go-To for Ground Cover Needs
For quality and variety, local garden centers, including the renowned Butterfield Gardens Ground Cover in Sandy, have consistently outperformed big box chains. Their tailored offerings, aligned with the specific climatic and soil conditions of Salt Lake, ensure that homeowners get plants with a higher survival and thriving rate.
Balancing the aesthetics and sustainability of your home’s exterior through xeriscapes and low-water ground covers is more than an environmental gesture; it’s a strategic move to enhance the curb appeal and overall value of your property in Salt Lake’s competitive real estate market. Every plant choice, from the resilient Woolly Thyme to the colorful sedum, contributes to painting a picture of a home that is as economically sound as it is environmentally conscious – a crucial selling point for the modern buyer.
Simple planning, seasonal planting, and collaboration with local nurseries are pivotal steps to a vibrant, water-efficient outdoor space. Transitioning from water-intensive grasses to low-water alternatives like Creeping Thyme and Sedum not only conserves water but also enriches the garden’s visual appeal.
Native Ornamental Grasses: A Natural Addition
October and November are great months for planting hardy ornamental grasses and shrubs, capitalizing on milder temperatures and winter precipitation for robust growth. Ornamental grasses like Blue Grama, Little Bluestem, and Alkali Sacaton introduce unique textures and colors to gardens, especially during the fall. Their adaptability to the Utah climate and their ability to thrive in off-peak planting seasons make them invaluable assets to any garden.
- Blue Grama: An indigenous Utah grass, Blue Grama, mesmerizes with eyelash-like seed heads that dance in the autumn sun. With sizes varying from 12-18 inches to as expansive as 3 feet, Blue Grama adds a dynamic visual element to gardens, basking in its full glory during the fall.
- Little Bluestem: This green bunchgrass transforms into a visual spectacle in fall, with its blades adopting shades of purple, pink, and red. Standing 18-24 inches tall and 12 inches wide, Little Bluestem adds a touch of fiery elegance to the garden as the seasons change.
- Alkali Sacaton: Known for its creamy plumes that rise in late summer, Alkali Sacaton introduces a soft texture amidst the often rugged arid-climate plants. While not commonly found in nurseries, it can be specially ordered, standing 2-3 feet wide and tall upon maturity.
Low-water ground covers, and ornamental native grasses give a comprehensive portrait of sustainability and aesthetic appeal. Each element, from the resilience of Woolly Thyme to the dramatic autumn transformation of Little Bluestem, contributes to a home exterior that is as appealing to the eye as it is kind to the environment.
For homeowners in Salt Lake, this multifaceted approach not only caters to the contemporary buyer’s preference for sustainability but also aligns with the pragmatic need for water conservation and landscape resilience amidst changing climatic conditions. The result is a property that stands out in the market, promising both aesthetic allure and environmental integrity – a combination poised to optimize resale value in today’s competitive real estate landscape.
Utah’s Native Fall Flowers: A Burst of Vibrancy
Fall is not just about the crimson foliage or the chill in the air; it’s an opportune time to introduce Utah’s native flowers, ensuring vibrant blooms for the following year. These plants, rooted in the local ecosystem, are not just drought-resistant but also vital habitats for native fauna. They stand tall along the ornamental grasses as xeriscape stalwarts:
- Firechalice (Zauschneria garrettii): The red trumpet-shaped firechalice flowers offer a visual treat from midsummer to fall. A favorite among hummingbirds, these blooms not only enhance garden aesthetics but also invite delightful avian visitors.
- Licorice Mint Hyssop (Agastache rupestris): Blooming in late summer, the salmon pink flowers of the Licorice Mint Hyssop stand tall over sea-green foliage, offering a delightful contrast. Apart from its visual charm, the plant’s licorice aroma is an olfactory delight, adding another sensory layer to the garden experience.
- Missouri Evening Primrose (Oenothera macrocarpa): Characterized by its striking yellow blooms, the Missouri Evening Primrose is a summer staple in Utah gardens. A self-sustaining plant, it often self-seeds, giving homeowners the joy of additional patches without any added investment.
The Inside and out of Increasing Resale Value
The integration of xeriscapes, ground covers, ornamental grasses, and native fall flowers paints a vibrant and sustainable picture. Each element, from the hummingbird-attracting Firechalice to the resilient Woolly Thyme, contributes to a holistic garden that appeals to modern buyers who value aesthetics intertwined with sustainability.
For Salt Lake homeowners, this integrated approach not only elevates the property’s visual appeal but also resonates with the contemporary emphasis on environmental consciousness. In a competitive real estate market, such a garden stands out, promising a harmonious blend of beauty, sustainability, and increased resale value.