Being a homeowner affords you a tremendous amount of opportunity because your home is one of the most valuable assets in your portfolio. When you are looking to sell your home, a nearly endless number of factors may dramatically increase the value of your home. It can be a daunting process to figure out which elements of your home are worth investing in to increase its value. Let’s walk through some of those steps here.
Your kitchen is where a lot of the action happens. Depending on its size and style, this area of the house can be a central meeting point and a common area where your friends and family gather. A great kitchen utilizes space effectively—for example, a kitchen island only makes sense if there is enough room to easily move around. And while a full-sized refrigerator holds more food, if the appliance is too big for the space, it can dominate the room. If you are thinking of reselling your home, a remodeled kitchen with brand-new appliances can go a long way. If your home wasn’t built in the last 20 years and you’ve never made any adjustments, chances are you can change a few aspects to make a big difference.
Kitchen appliances have come a long way. Stovetops, refrigerators, dishwashers, sinks, and garbage disposals all have new features to make them extremely attractive to buyers who may be interested in your home. Dishwashers have become powerful, quiet machines that are now extremely energy and water efficient, which can be a major selling point for certain buyers. Newer stovetops feature a wide array of burner patterns, and popular upper-echelon models for luxury kitchens include dual fuel. This allows the stove to be gas burning while the oven is electric, offering you flexibility and power. New refrigerators feature new ergonomic designs to maximize space and efficiency, and also have smart capabilities, which is another major plus for potential buyers. Most new appliances feature sleek stainless steel design, which has become the most popular appliance finish for ultimate luxury.
The master bedroom is another cornerstone of any home. The sanctuary of the master suite is one of a home’s great luxuries, and gorgeously designed bathroom attachment and walk-in closet space are huge pluses for increasing the value of your home. If you have the space, walk-in closets offer an air of sophistication and elegance. Some master bedrooms have plenty of room, but are not designed with a full suite in mind. The perfect master suite makes the room feel spacious enough while also incorporating a private bathroom. If you have the space and capacity to remodel a large master bedroom to include a bathroom and/or walk-in closet, you will certainly increase the value of your home. Homes with finished master suites can be marketed in a way that master bedrooms without integrated bathrooms or walk-in closets cannot.
Look around your home and you’ll see many elements in each room. Focusing on small, but importantly utilitarian details can make a big difference in your home’s value. Take your bathroom, for instance. If the general layout seems right, look deeper. Does the bathroom still have the original fixtures or faucets? Small details like this can help spruce up the space, so you don’t end up spending a fortune on a full remodel. Putting work into the smaller details can have an important cumulative effect on the overall value of your home.
Is your home carpeted, but with gorgeous hardwood floors underneath? When selling your home, your preferred walking surface no longer matters. Hardwood floors have always been a feature potential buyers love, and showcasing that element can increase value if the floors are original and in good condition. Removing carpeting can completely rejuvenate a space, and hardwood floors have a timeless and elegant look. Compared to other renovations and improvements, restoring hardwood floors is fairly inexpensive and can make an enormous difference.
If you know your water heater, air conditioning system, or other appliance needs some small repairs, taking care of those can help increase the value of your home, as well.
Having a freshly painted house is a great way to increase its value. The trap many homeowners can fall into is choosing a color scheme with too much personality. While this may sound counterintuitive, remember you are selling your home for other people to live in, not you. The value of your home will increase if the paint job is high quality. If a particular room of your house really needs repainting, start there first. Painting your entire home can be needlessly expensive, and only should be done if the walls are looking particularly worn out. The same principle applies for the outside your home. Unless there is glaring issue, avoid exterior painting, especially in a flashy color scheme. Many homeowners want to see a bright, well lit, and inviting home. Stick to the basics to let the best elements of your home shine.
It is important to work with trusted contractors and real estate agents to determine if an investment on repair will have a positive effect during the selling process. Hiring skilled contractors can help ensure the work you do on your home effectively increases the value of your home.
Advantage Contracting can help increase the value of your home. Give us a call today at (973) 696-0333 to learn more or schedule a consultation.