Coral Gables, Florida, stands out as a distinctive and unconventional residential area just south of Miami's renowned city. Often referred to as "the city beautiful," Coral Gables is celebrated for its well-planned development, evoking Spanish and Italian influences. The pedestrian-friendly community is home to the infamous Miracle Mile, the Miami Biltmore Hotel, and the Venetian Pool.
The city was meticulously designed in the 1920s by developer George Merrick and is characterized by its Mediterranean Revival architecture, ivy-draped mansions, captivating plazas, verdant parks, and elegant fountains.
If your Coral Gables home is ready for an upgrade, there are options to preserve the original elegance of the property while incorporating contemporary amenities and popular features. Although a well-executed renovation will not depreciate your home's worth, here are the best return on investment home improvement projects.
Replace windows
Upgrading your windows may not be at the top of your home improvement list, but it's worth considering if you have outdated or inefficient windows. By replacing them, you can recoup approximately 74% of your expenses when it comes time to sell your property. Additionally, energy-efficient windows can significantly decrease your electricity costs by around 20%, resulting in long-term savings on energy bills while enhancing your home's overall comfort and value.
Major repairs
A well-maintained roof and siding protect your home from the elements and maintain its structural integrity. Not only will replacing your roof and siding enhance your home's curb appeal, but it can also increase its value. By investing in high-quality materials and professional installation, you can enjoy peace of mind knowing that your new roof and siding will be durable and long-lasting. Since these are two repairs new homeowners are most reluctant to tackle in a new home, you will gain a 68%-74% return on your investment when you sell your home.
Add insulation
Houses over a decade old may not be equipped with the most effective insulation. In Florida, it's recommended that residential properties have an insulation rating of R-30 or higher to combat the state's heat efficiently. By adding insulation to your attic, you'll be able to reduce energy expenses while achieving an impressive return on investment of 107%.
Add universal design features
Incorporating universal design elements is a growing trend in modern home construction and renovation. By undertaking projects like widening doorways, lowering light switch placements, adding handrails, and making other enhancements to accommodate aging in place, you can significantly raise your potential return on investment by up to 68%.
Bathroom remodel
Undertaking either a minor or major renovation can enhance the value of your home, particularly when modernizing an old-fashioned bathroom. Today's homebuyers seek luxury finishes and spa-like features in the primary bathroom. Consider adding a steam shower or a deep-soaking tub. If you are replacing the vanity or the tile, opt for natural stone and marble, as they are natural materials that ooze luxury. Installing statement lighting with smart controls will transform your bathroom into a rejuvenating sanctuary, which may even make you reconsider selling your property.
Kitchen remodel
The kitchen is the heart of the home, and you will recoup a good portion of your investment with any updates. Homebuyers are drawn to features such as hidden storage spaces, concealed appliances, and large windows that let in natural light. With increasing time spent indoors and a growing interest in home-cooked meals, having a well-organized and clutter-free kitchen is highly desirable. When selecting materials for your kitchen, consider eco-friendly options and smart, energy-efficient appliances, as these sustainable trends have lasting benefits and continue to gain popularity.
Upgrading outdoor spaces
The "city of beautiful" begs for time spent enjoying the outdoors. Enhancing and expanding your outdoor areas, such as gardens and patios, can considerably boost your home's overall value and improve its appeal to potential buyers. The primary feature luxury homebuyers seek is a seamless transition between outdoor and indoor spaces, especially in the kitchen and entertainment areas of the home. This seamless integration allows homeowners to relax in the beauty of nature while still enjoying the comfort and convenience of interior living spaces. Whether through expansive glass walls, sliding doors, or open floor plans, if the remodel blurs the line between the indoors and outdoors, it creates a harmonious connection with nature.
Native landscaping
Florida has native trees in a thousand shades of green, like palms, oaks, and pines, and gorgeous flowering plants, like azaleas and magnolias. Using native landscaping will not only provide you with a beautiful lawn, but it will be easy to maintain. Native gardens and landscaping needs less water and provide habitats for birds and butterflies. Native plants are well-adapted to the local climate and soil conditions, making them more resilient and less prone to disease and pest infestations. Thus they require less fertilizer and pesticides.
Add space
The more space you can add to your home, the higher the perceived value of your home will be. There are various ways to add space, depending on the structure and layout of your home. For example, underused areas like the space under the stairs can be transformed into storage or a cozy book nook. An attic has the potential to become office space, and a small room can be converted into a wine cellar. If you have the space outdoors, a hobby shed could be added. An outdoor addition provides a quiet retreat to focus on your favorite pastimes. Other ways to add perceived space to your home include hidden storage like rollaway drawers and organization features, like a butler's pantry.
Juliana Savoia Real Estate offers unparalleled expertise in assisting new home buyers in embracing the Miami lifestyle. With her background in international finances and fluency in multiple languages, she is a knowledgeable and astute guide for global investors. Whether you are looking for homes for sale in Coral Gables or the Miami area, Juliana Savoia is ready to help you find the best home for your lifestyle.
