Top 10 Amenities That Increase Home Value
According to the 2019 Profile of Home Buyers and Sellers by the National Association of REALTORS®, on average, home sellers have sold their homes for an additional price of $60,000 from the amount they originally bought their properties. It is no question that the price effortlessly appreciates over time but we’re here to help you level up your game and sell it over the average price.
It may seem that an upgrade to your current listing is not necessary anymore because of the on-going pandemic but sellers like you should think twice before you opt not to upgrade parts of your home. In reality, home buyers are still okay with spending big on their new homes especially if every feature they want hits right on the spot.
Here are 10 amenities that buyers actually want to see in your home and increase your home value at the same time:
1. Spacious Kitchens and Pleasing Bathrooms
It doesn’t have to be luxurious, but having a great looking kitchen and bathroom wins straight to the heart of buyers especially on women. Being able to move as this is the place that women will probably be moving the most is a good sign for them.
Great additions to your spacious kitchen such as a walk-in pantry, marble or quartz countertops, dishwasher, steam oven, etc. would certainly increase home value before sale. Homebuyers favor a modern look, which marble or quartz delivers. Also, who wouldn’t love living in a home with an organized walk-in pantry?
2. Smart Home Technology
If a tech geek is living inside you, then this wouldn’t be so much of an upgrade. It is good for you as a seller since buyers tend to have an interest in homes that already have smart home products pre-installed. Based on a recent survey the features that they want to see the most are; Smart thermostats, Smart cameras, Smart locks, Smart fire detectors, and Smart lighting systems.
With these new features, you are attracting millennials who are very much tech-savvy and buyers who travel from time to time since smart technology enables them to check on their houses when they are away. Not needing to think if you have pulled the plug of your charger, ability to feed your pet because you’re going home late, and lights turning on once you get home are just some of the things your buyers can’t wait to have when they buy your home.
Besides, having a smart home also signifies that the property is in good condition and well-maintained.
3. Recreation room or space
Buyers today focus on convenience and added efficiency so having a dedicated space to work out and strengthen those muscles at home is a big plus. In the current time, who would have the time to go and hit the gym or their local yoga centers? Time has changed and you are able to do all of these in the comfort of your home. Hence, it is not a surprise that home buyers actually look for listings that have a state-of-the-art fitness room.
4. Energy Saving Appliances & Windows
Having that great large window can be aesthetically pleasing and energy-efficient at the same time. Though you only might have thought of it as a good upgrade for the overall look of the house, others view it as energy-efficient as well because of the amount of light it brings to your interiors. Large and ample windows help open your home up to surrounding views and settings, which is especially desirable if you are in a location with incredible views, such as a waterfront, wood-front or skyline-front property. Furthermore, investing in energy efficient windows helps keep cold air out during the cooler months as well as hot air out during the warmer months for a cozy home year-round while taking in those amazing views.
If we play by the numbers, a good 12% decrease in cost will be seen with energy-efficient windows. While homeowners can expect to save more than $45 per year on utility bills by using individual appliances like an Energy Star-certified dishwasher. Switching your present clothes dryer with an energy-efficient version will be able to save them as much as $245 over the machine's life span.
5. Hardwood Floors
A lot of home buyers nowadays prefer wood floors as opposed to tile or other colder material, as wood tends to add coziness and warmth both aesthetically and practically compared to harder materials. It also offers a more practical proposition versus using carpets which are higher maintenance and is probably going to get stuffy in the long run. In fact, with engineered wood flooring costing less, while also providing the same look as real wood, it has now become the material of choice, replacing many carpets, according to top brokers.
Carpet can be a real nightmare, as any experienced homeowner will tell you. It’s porous, meaning it’ll absorb all sorts of smells, they become impossible to clean, and any evening that involves carpet and wine, is just asking for it. But hardwood floors are markedly easier to clean, being wood they will undoubtedly be more durable, won’t stink-up your place when it gets old, and is practically spill-proof, in case you’ve got clumsy guests.
6. Extended Living Space
What makes property value increase is definitely a patio or deck which both provide and additional livable outdoor space that a home buyer desire.
Adding a sunshade or a cover to your deck or patio makes it suitable for year-round living. While a deck off the highest floor delivers a broadened view of the night sky as well as the surrounding area.
7. Outdoor Kitchens and Pools
What you really want is for your rental unit to pop, to stand-out, to make -it more than just a place to sleep, to make it a livable space, where tenants can relax, and indulge in recreation. The more you can pull this off – especially luxury apartment community owners - the better off your tenants will feel, & the more you can charge in rent.
Has it ever happened to you when you come home after working for long hours, can not even fathom the rush hour you’ve just been through and you simply want to take a hot shower and relax in your new home? The street is swamped with cars as you are looking for a place to park, after driving several blocks you finally found one and immediately pull. As the feeling of the hot shower creeps into your body, you look around the neighborhood all with regained hope and then you realize, you are not familiar with your surroundings – yep, that’s another 20-minute walk going home.
No one ever wants to experience this hassle, especially on the days that you just want to end. Therefore, homebuyers are on the special lookout for homes with assigned space, whether it’s a garage or just easily available parking on-street. It’s not surprising that it’s a very popular amenity.