What Factors Influence Home Resale Value Simple Home Improvements That Will Increase Your Home’s Value
It’s never too soon to think Home Improvements about selling your home. In fact, many experts in real estate say it’s better to start looking before you actually buy it. Chances are that you will be selling your new home within five, ten, and twenty years. Reselling is not something you want to do, but there are some important facts. While some attractive features might not pay off when you sell your house, others that you overlook now could make a difference in the long-term value of your home.
Although your main priority should remain your needs and desires when searching for a new house, you can keep the “resale value” in your thoughts. It is a major purchase that can prove to be a great investment.
Features that increase your home’s resale values
Good location
A good location is a key factor in increasing the value of a property. Real estate experts agree. A home should be located in a growing area, close to commercial areas and freeways but not too close to noise or congestion. It is a good idea also to look at city records for any proposed land-use action that could affect the area. While the neighborhood may seem peaceful right now, the city could be planning to demolish the green space in order build a new freeway. A planned city action could dramatically alter the house’s value, both positively and negatively.
Large kitchen
The kitchen is an important room in the house. It’s the hub of all your family gatherings and a space where you spend a lot time. Your home’s value will be significantly increased if you have a large, open kitchen that is easily accessible and close to the family and dining rooms.
Three to four bedrooms
Bedrooms allow for more space, such as extra room for growing families or separate workspaces. Ideal for home resale values, there should be at least three to four bedrooms. If the house has more than five bedrooms, ensure they aren’t increasing the price. There is no reason to pay more for extra rooms as they don’t increase the resale market value. If the home only has three rooms, you may have difficulty selling the property in the future.
2.5 Bathrooms
It is ideal to have a bathroom in the master and one shared bathroom. You should not list more bathrooms than 2.5. This will cause the house to be more expensive and may decrease its resale value. While two bathrooms is acceptable, any number less than 2 will affect the home’s worth.
Large, rectangular lot
Most buyers want a rectangular, fair-sized, level lot. The home’s resale value will be affected by small yards, sloped lots, and odd-shaped lots. For someone to consider their home accessible, there should be enough space between the front and rear yards. A lot of space is needed for decorations and activities.
Closet space
A walk-in wardrobe in the master bedroom is a desirable feature. A home should have ample closet space in all rooms, not just the master bedroom. A home without enough closet space can make it difficult for buyers to buy and reduce its value.
Garage for 2
A two-car garage might be most appropriate depending on the house’s location. A larger garage might be more desirable if there are other houses nearby with larger garages. The magic number is two. There are many ways to affect your home’s value.
Laundry room hidden on main floor
A laundry room shouldn’t be in plain sight. It should be on the main level of your house. It can be easier to access the laundry room from the main floor, reducing trips up and down the stairs. It doesn’t matter if your laundry room isn’t an issue, but it can be a problem for potential buyers. This could affect the price of your house.
Comparison of house size and surrounding houses
Depending on where it is located, the house’s size can affect its value. The surrounding homes will reduce the house’s value over time if it is surrounded with large luxury houses. However, if the house has a small or medium size and is surrounded by larger homes it could see an increase in its value over the years. Consider the area surrounding the house when you’re considering buying a home.
Surprising features that don’t increase home resale values
A view
Although a beautiful view can be attractive, it will not increase the property’s value and could end up costing you significant money. Compare the value of a house that has a beautiful view to the cost of another similar house in the same location that does not have one. The view is it a reason why the house’s price is so high? You won’t make any extra money if you decide to sell the house.
You might like landscaping
If you’re not impressed with the landscape, don’t spend extra. Sometimes landscaping is a sign that the previous owner has made an investment or hobby in the property. The seller should be notified if you are unable to see yourself enjoying the landscaping. If the landscaping is not of your interest and you aren’t prepared to spend the same amount as the previous owner, it will eventually degrade and you won’t receive the value for your money when it comes to selling.
Swimming pools
While swimming pools used to be very popular, many families are moving away from them due to the increasing awareness about injuries and dangers. If you do not want a pool for personal recreational use, don’t spend more than you need.
Multiple stories
In the past multi-story homes were extremely popular. The market has seen a remarkable shift recently, with single-story homes becoming more sought after. Single-story homes that are located around multi-story houses are an exception. In most cases, a single story home will yield more in the end.
Fireplaces
Although they can be charming and comforting, fireplaces don’t add value to a property. The seller should know that you aren’t interested in a fireplace, or that it’s not an important feature that will increase the value of the house.
Home Improvements that Increase Home Resale Value
While you’re searching for a house or you’ve moved in, there are always ways to increase its resale value. These are some helpful tips:
Home Improvements
As you browse homes, think of any “not desirable” features as an opportunity for home improvement. Your ideas for home improvements, such as new furniture or paint colors, can help increase the property’s value. Consider your abilities and work with a contractor. Then, look at the home through the eyes of a restoration specialist. Could a new porch or terrace be built if the lot is steep? Could a half-bathroom be added to the home if it only has two bathrooms? What can you do to make the home more valuable?
Renovating kitchen and bathrooms
When you look at a new house and find that the kitchen or bathrooms seem cramped or uninviting, it is worth considering the costs of renovating them compared to the savings from buying the house as-is. You can make a huge difference in the property’s value by doing some DIY fixes like replacing tiles or cupboards. The kitchen is the most important room in a home. Bathrooms are second and then the master bedroom. You could make money if these rooms have beauty potential.
Get rid of wallpaper
Most buyers do not like wallpaper. It is usually outdated, so buyers don’t want it to be removed. Here’s how you can transform a hindrance into a benefit. The home’s resale values can be significantly increased if you are willing to take the time to remove the wallpaper. Once the wallpaper is removed, paint the walls a neutral colour. This allows buyers to project themselves within the home, and can essentially imagine their lives there.
Your home is your house
These are just a few of the opinions from many real estate professionals. But, home resale is still a guessing sport. You are betting that today’s most important features will remain valuable in the future. There are many proven trends. It is a smart idea to learn about the neighborhoods and markets in which you plan to begin your search. Although your house can be a major investment, it is also an investment in your family’s well-being. Find a house you love and can live in for many more years. These are some tips to keep in mind as you begin your search. Once you find the right house, it will be a good financial investment as well as an investment for the future of your family.
Ideas for Home Renovation
To increase the home’s worth, most people embark on a home-improvement project. Home improvements such as repainting or adding new features can help increase your home’s value. Many people decide to do repairs and remodeling on their own homes if they don’t have the funds.
Home improvement ideas are endless. They can increase your home’s value, as well as make it more attractive. You will feel more at home when you put these ideas to use.
Home improvement projects such as bathroom remodeling, kitchen remodeling, or window replacement can be used to improve your home. There are many ways to make your home look better and more comfortable.
When you’re thinking about a home renovation, the kitchen is a great place to start. It is a good idea to update your kitchen’s look. Kitchen cabinets are the biggest problem. This can be fixed by either replacing the existing cabinets or rebuilding them.
A kitchen floor change is another option for home improvement. A kitchen floor can make a big difference in the quality of your cuisine. There are many options available to you. You can choose from hardwood floors, ceramic or stone tiles, or laminate, which is relatively new and becoming more popular.
Additional Resource:
https://www.houzz.com/photos/bathroom-ideas-phbr0-bp~t_712
https://www.architecturaldigest.com/gallery/inspiring-bathrooms-archives-slideshow
https://www.forbes.com/home-improvement/bathroom/cheap-bathroom-remodel-ideas/
