11 Features That Can Increase Your Home Value
The most common home improvement projects are kitchen and bathroom remodels. But often times you may not have the time, patience or budget complete a renovation. Even if you can’t remodel, your home might already have the features that can ultimately increase your home’s price tag!
1. Fences: Fences are a good investment and can up your home’s value. The style of fence can make a difference, though. For example, a chain-link fence is generally passed over by buyers, and some towns have offered to pay homeowners to get rid of them. Natural materials like cedar are more common and bring privacy while adding significant appeal.
2. Walk-in closets: We all have too much clutter and need somewhere to store it, making a roomy closet a highly sought-after feature. It may not increase your home’s sale price, but it might help your home sell faster in a competitive market.
3. Original flooring: Hardwood floors rank high on the wish list of many homebuyers. And if they’re the original floors, you may hit resale gold. The most valuable benefit of original hardwood floors is that most damage can be sanded out and refinished easily.
4. Formal dining room: Although you may not spend much time in your formal dining room, outside of a few holidays, it is making a comeback. A formal dining room isn’t often found in a first home, and they’re great for entertaining.
5. Stainless steel appliances: Trends come and go, but the desire for stainless steel appliances seems to be here to stay. Quality counts, but all homes can benefit from including these in the sale.
6. Exposed brick: Buyers look for the industrial-chic look of aged brick because it adds a sense of character and history to a home. If your home already has this, or it’s hiding behind your sheetrock, consider exposing it to add value.
7. Mudrooms: This specialty space tends to be a geographic preference and an essential for families in the suburbs. While it’s great to have a dedicated mudroom, it’s even more attractive to have a customized space with cubbies, lockers and other crafty storage solutions.
8. Fireplace: A fireplace isn’t something you can easily add after the home is built. Like a walk-in closet, a fireplace may not increase your listing price, but it can help you sell your home quickly.
9. Impressive trees: According to a survey, a mature tree in a yard can add 2% to a home’s price, while mature trees visible in high-income neighborhoods add 10% to 15% to property values, especially when they help shade your street.
10. Attic or basement bedroom: Even though you may consider your attic or basement bedroom a quirky feature, many potential buyers think an attic bedroom is a great use of a commonly overlooked area of the home. Be sure to take permitting seriously though, because a nonconforming bedroom can hurt more than it helps when it comes time to sell.
11. Smart tech: A sprinkler system, high-end programmable thermostat or other green-tech can be attractive features for your home’s next owner. It’s all thanks to the general movement toward increasing energy efficiency.