To renovate or not renovate? It is a crucial question that appears in the head of any homeowner when planning to put their house on the market. Home improvements can make your life on your property easier and more convenient. If you choose the right projects, they can also bring you bigger returns when you decide to sell it.
There are some factors such as its location and the trends that exist on the market that are out of your control. But you can increase the value of your property and make it more efficient by adding some square footage, upgrading your kitchen or the bath, and by installing the latest smart-home technology. Driven by the shifts in the current housing market and the changing preferences of the consumers, the following improvement ideas are proven ways to boost your property’s value.
Upgrade your kitchen
Surprising as it may be, the kitchen is still considered the heart of the home by many potential home buyers. In fact, a modern and updated kitchen is on the top of the list of ideal home features in many surveys which analyzed the preferences of the consumers. The kitchen is an important part of the house because it is where the family gatherings happen and it is a mutual area of the house. So, buyers look for modern kitchens with more functionality and more space. If you have an old and dated kitchen, it is good news because investing in improving it will increase the value of your home significantly. Small changes such as changing knobs and handles, resurfacing cabinets, and replacing the countertops can make enough of a difference and completely transform how the entire space looks like.
Install smart-home technology
Real estate experts have understood that prospective customers do not focus solely on the price of the property but actually place higher importance on its attributes. Realtors believe that smart homes sell faster regardless of their price because they have a greater appeal among the younger generation entering the real estate market. Safety-enhancing gadgets such as thermostats, fire detectors, carbon monoxide detectors, door locks, and security cameras are on the list of smart technologies that buyers want to have in their new homes. The biggest motivation to buy a home that has smart technology is the fact that it makes the properties become safer. They can detect break-ins or alert the homeowners about other threats such as smoke, fire, or carbon monoxide. Also, smart homes can help them save a lot of money by using smart thermostats which adjust the temperature in a room accordingly to their preferences to save on energy bills.
Make it more efficient
Nowadays, climate and environmental issues are topics undergoing intense study. More and more people aim to become eco-friendlier and adopt everyday practices that do not harm our environment. Thus, energy conservation features can have a significant impact on your property’s value and attract environment-conscious homebuyers. Home features such as double-paned windows, enhanced attic insulation, and LED lighting are efficient and low-cost improvements that attract buyers who want a greener home. If you have a bigger budget to invest in the property, you can add renewable energy power sources like a wind turbine or solar panels. According to recent studies regarding what prospective home buyers want to have in the house they buy, solar panels on the roof were perceived as a property value.
Sunroom Addition
Outdoor living spaces have become more desirable among potential home buyers. Everyone would love to picture themselves on a bright sunny morning, sitting and enjoying the view without any flies buzzing or wind to blow your paper off the table. This is the beauty of having a sunroom enclosed with large windows that led the natural light into the room. Adding a sunroom, mean that you add an extra room that is attached to the property. There is a multitude of sunroom ideas that you can use to design the space such as turning it into a green room by decorating it with indoor plants.
Paint is still a potent upgrade
There is no surprise that the appearance of the house still matters a lot for the buyers. No one would like to buy a house that looks older than them both on the indoor and the outdoor. Paint is the cheapest way to ensure that your property looks at its best. High-traffic areas of the house should be repainted to make the house look fresh and new. Today’s home buyers prefer neutral colors such as whites and off-whites that make the rooms look more spacious and warmer. A fresh coat of paint in the right color can make your property look completely different and more appealing to your prospective customers.
Open floor plan
One of the top house features that exist on the list of most desired features is an open floor plan with flexible living space. Increasing the amount of living space is sure to boost a property’s value because most young home buyers envision transforming the additional space into a dedicated office. Since working from home has become a rising trend among young employees, the additional living space in a property has a great value for them. Finishing a basement or adding a room in the attic, are two of the most common ways to add usable square footage to a home. The most powerful aspect that makes prospective homebuyers pay more for a house with added living space is the fact that they can use it to build spaces according to their needs such as a home office or a playroom for their kids.
Before you make decisions regarding home upgrades, renovation, and major projects, it is vital to pay close attention to the market trends to know what will add value to your home or not.
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