As a homeowner, you might feel resistant to home-improvements when it’s time to sell. But that decision can sometimes be more costly than the loss you’ll incur on any home-improvement projects. It can mean the difference between receiving no serious offers and multiple serious offers. If you move before you sell, the longer your home stays on the market, the longer you’ll likely to be paying your mortgage, taxes, insurance, maintenance, and other costs. If you aren’t sure which upgrades would generate the greatest buyer interest for the smallest investment, I would be happy to share my knowledge and expertise with you. Following are six of the features buyers want most in a home, with approximate budgets for each:
Exterior Lighting: $20 to $250 per fixture
According to the National Association of Home Builders, exterior lighting is the most-wanted outdoor feature. A home with attractive lighting will grab a potential buyer’s attention before they even step out of their car. Wall lanterns, illuminated walkways, and accented landscape lights make a strong first impression, provide a sense of security, and instant curb appeal.
Energy Efficient Windows: $270 – $800 per window (Including installation)
Any energy-efficient feature can be a great selling point for your home. In some polls, as many 90 percent of homeowners had energy efficient windows on their home-buying checklists. They not only look great, but Energy Star qualified windows feature sturdier weather stripping and improved framing materials, reducing undesirable heat gain and loss, and saving as much as 15 percent on energy bills.
Eat-in Kitchen: $1,000 and up for installation
Eat-in kitchens are essential for most home buyers, especially families with children. The kitchen is the heart of your home, and although the cost on this project can vary greatly, depending on the amount of work involved, it is a feature which can truly give you a step up on the competition for convenience and function.
Stainless Steel Appliances: $1,300 – $4,000 for full kitchen packages
While still a topic of constant debate, Stainless Steel is always a safe bet. It’s rust-proof, stain-resistant, bacteria resistant, and aesthetically pleasing. Most importantly, it’s still in demand as a home feature by many buyers.
Home Technology: A multitude of options in wide price range
The wave of the future is here, and buyers want to be a part of it. Smart Home Technology is high on potential buyers’ lists because of its convenience, efficiency, safety, and energy savings. Thermostats you can control with your smartphone, lights which adapt to your living habits, and state-of-the-art security systems are just a few of the tech products that can increase your home’s value.
Hardwood Floors: $2,500 to $6,500 on average (according to homeadvisor.com)
Hardwood flooring has a lasting appeal, and is a huge selling point for many buyers. It is easy to clean, has long-term durability, provides better room acoustics, and promotes a healthier indoor air quality. It will also increase the value of your property.
If you’d like to know more about how to make your home competitive with other homes for sale in your community,
or anything else regarding the sale of your home, please contact me and I’d be happy to discuss it with you.