People always wonder if and what kind of changes they should make to their home to make it seller faster.
Here are 7 investments you can make to your home so it's more attractive to prospective buyers.
1. Laundry room
While many homes have a nook in the hallway or within a bathroom with a washer and dryer, most buyers (92%) of all ages want a separate laundry room with space for these appliances, plus room to sort and iron. If you want to add a laundry room, think of putting it in the basement or in an area where there are utility lines and plumbing is accessible. Since the utility lines are already there and many basements aren’t finished, it’ll be much cheaper to install than if you have to take out walls or move utility lines.
Cost to install: $1,000 to $10,000*
2. Exterior lighting
90% of buyers want a home with outdoor lighting including spotlights, walkway lights and pendant lights. Not only does this lighting highlight your home’s curb appeal, it’s also a safety measure. For example, motion lights will turn on whenever they sense movement. Cost to install: $60 to $135 per fixture*
3. Energy-efficient windows and appliances
Energy Star-rated windows and appliances are a top choice of buyers – 90% prefer energy-saving appliances and 87% prefer energy-saving windows. Energy-efficient windows can reduce heating and cooling costs by 12%. Additionally, homeowners may save up to $40 a year on their utility bills by including energy-efficient appliances in their homes.
Cost to install: $270 to $800 per window; cost varies for appliances*
4. Patio
More than 84% of buyers feel a patio is an important home feature. Many people entertain outside during the warmer months of the year, and a patio allows them to do so without having to modify their home.
Cost to install: $961 per 120 square feet for a concrete patio*
5. Hardwood floors
For 82% of buyers, hardwood floors are a desirable selling point in a home. Hardwood floors tend to be more durable and easier to maintain than carpet. They also offer a timeless aesthetic to a home. Homeowners can add rugs to improve the warmth of a space or tie the room together.
Cost to install: $1,473 per 120 square feet of unfinished hardwood; $1,353 per 120 square feet of pre-finished hardwood*
6. Garage storage space
Storage is important to 81% of buyers, especially if they have growing families. Additional storage in the garage keeps the main living areas free of clutter and is more accessible than attic or basement spaces. Improvement options include installing pegboard on the wall for tools, improving the lighting and electrical circuits or adding cabinets and shelving.
Cost to install: $2,025 – $2,363 for a 380 square-foot space*
7. Eat-in kitchen
Many buyers (80%) like the appeal of eating their meals in the kitchen, especially if they have children. Creating space in the kitchen for a small table and chairs may be as simple as removing a wall. You will want to make sure the wall is non-load-bearing with limited repair work involved such as pipe or wire removal. If the wall contains any of these factors, your costs could increase dramatically.
Cost to install: $1,000 to $10,000*
Have questions or want to know more features that could increase your home's attractiveness to sell quicker? Contact me today! (402) 706.2901 or creeve@npdodge.com
*Source: Kiplinger, August 2016
