These six features will help increase your home’s value in a buyer’s eyes. This means your home’s listing price could be increased or decreased, too. Factors that determine your home’s value that can’t be changed are square footage, amount of bedrooms, what neighbors’ houses sold for, and location. While there are many factors to consider when a real estate agent analyzes how much to price your home, these are the six that you can control.
1. Create a Home Office Space
This has become one of the top necessities for buyers, as many are still working remotely from home or will continue to. Realtor.com performed a survey in July 2020 and found that more than 20% of home shoppers indicated a home office was essential to them. Realtor.com data also found that houses with a home office sell about 3% more than homes without one.
2. Consider Quantity of Bathrooms
You know the popular saying “quality over quantity?” Well, it doesn’t apply to bathrooms! Bathrooms have just as much price boosting as bedrooms do. Bath number is important because adding a bath can cost a homeowner thousands of dollars, a renovation most want to avoid. A study by Opendoor found that adding another bathroom will increase the home’s resale price by 6%. A remodeled bathroom will also help improve your home value as well, but not as much. The study found that renovating an existing bathroom will increase the price by about 4%.
3. Consider High Maintenance Add-Ons
Features people first think of as fun, like a pool or elaborately landscaped yard, don’t always mean a higher home value. Sometimes, it can turn buyers off because while it’s fun, it’s also costly once they realize they need to maintain the feature. It’s hard to say whether a pool or other high-maintenance add ons will help you or hurt you. Contact us today if you’d like to learn more about how your upgrades affect your home’s value in a buyer’s eyes!
4. Add Beauty
A beautiful and staged home will sell better than an empty one. With proper staging, a potential buyer can better visualize themself living there. Decor can also help draw emphasis to the unique features of your home.
Popular rooms homeowners staged are the living room, kitchen, master bedroom, and dining room. High return averages for exterior projects are singing replacement, deck addition, manufactured stone veneer, and grand entrance. If you need help deciding what to renovate and stage, contact us today! We can tell you what features will help your home sell for more in your area.
5. Add Energy-Efficiency
The more “green” your home is, the more buyers will be drawn to it. A “green” house will help the environment and also help you save money. The National Association of REALTORS® found that homebuyers find these features to be most important:
- Heating and cooling costs (33%)
- Windows, doors, and siding installations (29%)
- Energy-efficient lighting (23%)
- Energy-efficient applianced (23%)
6. Update Systems and Appliances
Part of the burden, financially and physically, of being a homeowner is the maintenance of the home. So, if you can relieve some of that pressure, a buyer will be more enthusiastic about your home. New appliances and systems will present your home as more valuable. It can be as simple and inexpensive as fixing what already exists but making it more efficient and ensuring it works properly.
If you want to sell your home for the highest price, contact our team today to get started! We’ll help recommend projects to help increase your home’s value in a buyer’s eyes, so you get every penny that it’s worth! Reach out to us anytime: (512) 699-9714 or Tina@MallachandCompany.com.