If you are like most homeowners, then you believe your house is your biggest asset, and taking care of it is a top priority. You’re always looking for ways to protect and enhance your home’s value, and you consider return on investment (ROI) before taking on any renovation or improvement. 
So, if you’re one of those value minded homeowners, let’s take a look at one aspect of a home – cosmetics – and explore how upgrades (or a lack thereof) could impact your home’s value. 

What are cosmetics? 

The term cosmetics refers mainly to aesthetics, which is defined as the philosophical study of beauty and taste. Paint, lighting, trim, carpeting, backsplash tile, cabinet color, hardware, etc.…these are just some examples of cosmetic features that can draw future buyers in, or possibly turn them away. And, while not always directly, the quality, condition, and style of these features may indirectly impact your home’s overall value. 

How do cosmetics play a role in value? 

An appraisal is an unbiased professional opinion of a home’s value.  

Doug Petroff with Petroff Appraisals says when considering cosmetics, it all comes down to how the subject property stacks up against the comparables.

“I am first looking at cosmetics from the standpoint of overall condition and how it compares to similar properties,” he said. “Are the walls painted and clean? Are holes patched? Have the floors been refinished? Are there any cosmetic repairs needed? That all speaks to how the home has been maintained, and that can have a big impact on value.” 

So, if your finishes are in great condition, does it matter if they are a little outdated? Sure, you have 80s brass light fixtures throughout the house, but they’re clean and in good working order. Does switching them out really have an impact on value?  

“No matter what type of project you’re taking on, I always suggest you first consider what is ‘typical’ for your area, especially if you’re improving to sell,” said Petroff. “If most homes in your neighborhood are updated with quartz countertops, trendy paint colors, and upgraded LVP flooring, then buyers in that area will expect something similar from your property.” 

But Petroff says to keep in mind that making improvements doesn’t mean you’ll see a dramatic increase in value, or even a dollar-for-dollar return. Instead, he says cosmetic upgrades – or the lack thereof – can indirectly impact value by “tipping the scale.” 

“An appraiser will come up with a value range for your home based on the inspection, research, comparables, etc., and cosmetics can play a role in determining where in that range your final value may fall,” he said. “If your home has a lot of cosmetic upgrades, it could land at the higher end of the range. But if you haven’t updated in years, the lack of attention could tip the scale in the other direction.” 

Don’t forget about curb appeal

When considering cosmetics, many homeowners focus on the interior. But Petroff says the exterior is arguably even more important. 
“Curb appeal is critical,” he said. “I’ve had clients ask what they can do to help improve value and on numerous occasions my advice has been to start with the landscaping. This is the first thing appraisers, REALTORS®, and buyers see when they drive up to a home and it sets the tone for what they can expect to see inside. It also gives an idea of the home’s overall condition, which again, can influence value.”

Remember, you don’t need to list your home to get guidance from the real estate pros. If you’re wondering where your current value stands, or if you are looking for suggestions on how to improve your home value, reach out to a REALTOR®, or have an appraisal performed by a local professional. You can find a list of reputable service providers by visiting the Greater Lansing Association of REALTORS® website at www.lansing-realestate.com.