A great article on Yahoo financial news today about “20 Things that can Alter the Value of your Home” lists good and bad things that people do to their homes.
Kitchen and bathroom upgrades have always and will always make the biggest difference. Today’s buyers prefer open, spacious floorplans, great curb appeal, natural materials, good landscaping, and dry basements.
Increase home’s value
1. An updated kitchen
2. Modern bathrooms
3. A well-appointed master suite
4. Natural materials
5. Curb appeal
6. A light, airy spacious feel
7. Good windows
9. Lots of storage
However, some things can hurt your home’s value, and they are ranked as follows:
Decrease home’s value
1. A pool
2. No garage or small garage
3. Garbled floor plan
4. Outmoded appliances or systems
5. Stale or overly personal decor
6. A bad roof
7. Bad location
8. Poor maintenance
9. Environmental hazards
10. A long list of needed home improvements
Most of these issues are easy to fix, and if you keep your maintenece schedule current, these shoud not be an issue for you at all. A pool can be a great thing to some, and horrible to others. It takes the right buyer and narrows your buyer pool (no pun intended!) Decor can be another big but easy to fix issue. I have seen gorgeous, well taken care of, well priced homes sit on the marketbecause the decor is too much. Your flowered sofa, loveseat, chair and pink walls may be gorgeous, and suit you perfectly, but what happens when a manly-man bachelor is the potential buyer? He may not be able to look past the decor, even though his agent will try to help him do that. Often, the decor becomes clutter to the eye and distracts the buyer, then they can’t move past your lighthouse themed room. We want you to move out anyway, so start packing up that stuff now, minimalism is good!
If your roof or appliances are older, and you don’t have the money on hand to fix or replace them, at least be sure to offer a home warranty that will cover these things (double check to be sure it covers the roof!) for the buyer’s peace of mind. I will address a great warranty in a future blog.