Features that Add Value To Your Home

A writer from BankRate.com has compiled a list of 10 features that can add value to your home. Keep in mind that the writer is based in Atlanta, which could make some of her projects impractical and/or not applicable. For the sake of discussion, here is her list of 10 projects that add value:

1. An updated kitchen. “Kitchens are critical,” says Robert Irwin, author of “Home Buyer’s Checklist.” “Today, people like a big kitchen with a lot of workspace.”

They look for solid surface counters and high-quality flooring, such as wood, laminate, tile or stone. And they want newer appliances in working order.

Even if it’s not huge, it should have “countertops that are serviceable, that aren’t going to have to be replaced soon and cabinetry in good condition,” says Alan Hummel, past president of the Appraisal Institute. “It has to be well-appointed and large enough to fit your needs.”

It also doesn’t hurt if it opens onto another room. “A lot of families are looking for that openness,” says Hummel.

Kitchens are probably the main focal point of the home, and a make or break room in terms of buyer appeal. In Pleasanton and the Tri-Valley area, granite is what most buyers look for, and it can transform an ordinary kitchen for a surprisingly low investment. Othe keys are stainless appliances, wood cabinets, and tile or hardwood flooring.

2. Modern bathrooms. Buyers are looking for “master baths that give a little room to roam,” says Hummel.

A big asset is a spa or a whirlpool tub. “I’m always entertained by the people who have them in the master bath and don’t use them,” says Ron Phipps, principal broker with Phipps Realty & Relocation Services in Warwick, R.I. “But it’s a big feature.”

Some other features buyers are seeking are separate showers with steam and/or multiple jets, a double sink, and a separate room for the toilet.

Another key are of the home, bathrooms are often a function of age. The newer the home, the more lavish the bathrooms tend to be. The master bath in particular goes a long way towards appealing to buyers and adding that luxurious feel to a home.

3. A well-appointed master suite. “People are really excited about master suites,” says Hummel. The wish list: A luxurious bathroom, lounging areas and walk-in closets.

No disagreement here, especially regarding closet space. You can almost never have too much closet space in the master bedroom, and a walk-in closet is ideal

4. Natural materials. “People like natural materials,” says Phipps. “Ceramic tile, hardwood floors, granite. We’ve gone back to a real appreciation for historically true materials. And simulated works as well. The look is very popular.”

If you have carpet, it should be a good product and well-maintained so that “a person doesn’t have to walk in and think, ‘I’m going to have to spend five grand right off the bat,” says Strong.

Right on the mark. Natural finishes and deep earth tone colors are currently in style. The old adage of making your home neutral does not really apply anymore, as buyers these days are looking for richer, deeper colors and natural finishes.

5. Curb appeal. First impressions are everything. A house that appears tidy and well-cared-for will sell more quickly and for more money. A good first appearance can add as much as 10 percent to the value of the home.

This one should probably be in the top 3. Curb appeal is a huge factor in the value of a home, as it helps create that all important first impression.

6. A light, airy, spacious feel. “People buy space and light,” says Myra Zollinger, owner/broker with Coldwell Banker Realty Center in Chapel Hill, N.C. “I have yet to have anybody walk into a really dark house and say, ‘I love this.’”

Richard “Dick” Gaylord, president-elect of the National Association of Realtors, agrees. “That’s a very big feature,” he says. “I haven’t sold many homes that aren’t bright and airy.”

This is another crucial factor. Homes that are dark create an uninviting feel with the buyers. Trim or even remove some trees near the home, eliminate heavy drapes and other window coverings that detract from the natural light entering your home. Skylights are always a good addition as well.

7. Good windows. “People are looking at exposures and windows,” says Phipps. “It’s been a cold winter for most of the country and energy efficiency is very important.”

Insulated windows are always a plus, says Strong. “Typically, they pay for themselves in five years,” he says. The cost for an average 2,600-square-foot home is estimated at about $10,000 for new windows, he says.

Definitely a good idea, especially on older homes. And new windows give the home a fresh, light look as well. And it is one last major expense the buyer will be able to avoid.

8. Landscaping. Mature trees “are worth $1,000,” says Strong.

And having outdoor spaces with touches such as pergolas and Victorian garden swings “can be very helpful,” says Phipps.

Conversely, you don’t have to spend a fortune on plants, either. Just keep it “typical with the neighborhood,” he says.

Landscaping is critical, especially in the Pleasanton and Tri-Valley area, since your yard often becomes an extension of your living space for 6 or 7 months of the year. One caveot, however. Mature trees are great, except when they are right next to the home and cut down or eliminate natural light from the interior of the home. Remember, light is your friend.

9. Lots of storage. Nothing beats an oversized garage, some attic space and plenty of closets. “If you have a two-car garage, do you have extra space for those things we all have — bicycles, lawn mower, snow blower?” says Hummel. “Space is important.”

A nice plus in the master suite? “His and hers walk-in closets,” says Irwin.

Amen to this one as well. If there is no space in the garage area, you can always invest in a high quality storage shed to increase the storage capacity of your home.

10. Basement. “If it’s dry, it’s a plus,” says Kenneth Austin, co-author of “The Home Buyer’s Inspection Guide.” “But it’s a negative if it has water problems.”

A finished basement adds even more value. “Ten years ago, nobody cared,” says Mittenbuler. “Now everybody wants them.”

That’s nice, but we don’t have basements in Pleasanton and the Tri-Valley. In many cases, the 3rd bay of a 3 car garage functions as the basement in the Bay Area.

In summary, appeal is the key factor for how much your home sells for, and how quickly. But appeal is an elusive subject that does not necessarily conform to checklists or easy formulas. As always, it is best to consult with a design consultant or an experienced real estate professional for how to best increase the appeal of your home.

Courtesy of Yahoo News

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