When it comes to increasing a home’s value there are two areas of improvement that are as close to a sure thing as it gets in terms of recouping your investment…and then some. If you guessed kitchen and bath you guessed right.
An up-to-date kitchen
Maybe HGTV has brainwashed us all into thinking that a kitchen just isn’t a kitchen unless it comes with granite counters and all-stainless steel appliances. Or maybe buyers have just come to expect more in recent years. Whatever the case, an updated kitchen is absolutely essential if you want to get max value for your home. In many ways, the kitchen is the heart, or centerpiece, of the home. Even if you don’t personally spend a lot of time in the kitchen you can rest assured that money spent to improve this area of your home will be money well-spent.
Here are some key points:
People like having a lot of workspace to prepare and cook food these days. Solid surface counters have become the standard. And flooring made of materials such as stone, high-grade tile, wood and even laminate are equally sought after. Newer appliances, preferably stainless steel, are always a good investment. At the very minimum, all appliances should be in working order.
Even if the counter tops are huge they should at least be serviceable and not in danger of needing replaced any time soon. The same applies to all cabinetry. Often, simply updating the hardware (knobs, handles) can lend an entirely new appearance to otherwise out-dated cabinets. And if that isn’t quite enough, adding new doors can really make a difference. What’s more, this option costs far less than a total replacement.
A kitchen that opens into another room is always a plus. In general, there has been a trend towards open concept designs from an architectural standpoint. Buyers like openness.
A Modern bathroom
These days, buyers like spacious master baths with room to navigate. A spa or Jacuzzi-style tub is a major plus. Whether or not you actually use it, it will nevertheless add value when it comes time to sell. Also sought after are stand-alone showers equipped with multiple jets and even steam capability. A toilet in its own separate room has become increasingly popular, as have double sinks w/ large vanities.
Of course, having all these niceties places certain demands on your plumbing system. You’ll need to ensure that you have adequate water pressure and volume. Also, a water heater that has enough capacity is essential. You’ll need at least 75 gallons of capacity, preferably between 100 and 150.
A few final thoughts…
While there are many homes listed in Zionsville that have all of the aforementioned amenities this may not be true for all areas. If you don’t already have a good feel what is the norm in your neighborhood then be sure to research comparable sales in the Indianapolis area. While all these improvements will no doubt help you sell your home faster, you may have a hard time recouping your investment if a particular amenity is not common in your neighborhood. Take granite counters: who doesn’t want them? But from a home valuation standpoint, it is hard for an appraiser to make the numbers work when there are no comparable sales within a 2-mile radius that have so much as even tile counters, let alone granite. Find out whether the improvements you intend to make are common enough to warrant the investment. The last thing you want to do is invest in amenities that are an order of magnitude better than anything else that can be found in the area. Increasing your home’s value doesn’t have to cost a fortune. Spend smart by focusing on the aspects that matter most to buyers.
Read more from the original source:
Two Sure-Fire Ways to Increase Your Home’s Value
