What Aspects of a Home's Exterior Make a Significant Impact on Buyers?
by Katie Tejada
If you're interested in selling your home or investing in its value, now is a great time to make improvements that will increase its sale price and help it stand out in the marketplace.
Potential buyers are looking to buy homes, and housing sales are picking up. Property sales will continue to increase - and the best way to take advantage of this uptick in sales is to renovate your home to increase its sale price.
The Economics of Renovation
Renovation or remodeling your home may increase its sale price. Homeowners can get back between 50-80% of the original costs involved in renovating when the home is sold. That means, if you renovate your bathroom for $23,000, you may be able to get $14,720, which is 64% of what you originally spent. As prices and sales continue to expand, you will be able to get more of the renovation costs back when you sell.
It may cost you more to leave your home in its original state. Upgrading your home increases its appeal to potential buyers, and there are specific remodeling factors that buyers look for when they view your home. Consider some home improvement projects that fit the taste and demands of your potential buyers.
Energy Efficiency
Right now, about 89% of buyers are looking for energy-efficient homes. Potential buyers who are looking to trim down their utility bills will be interested in energy-efficient properties.
Energy efficiency is one of the most prevalent factors in property deals. Determine where you can add energy efficient practices to your home. If you have energy-efficient appliances and windows, your resale value doubles.
Windows
Patio or Deck
The patio is another important factor that buyers look for, according to the National Association of Home Builders (NAHB). If you have a large outdoor patio, your property value doubles.
Buyers envision themselves sitting on the patio with their friends and families, making it one of the most coveted home features. Creating extra spaces such as a fire pit area or a backyard bar, allow the potential buyer to see themselves enjoying their new backyard space.
On the practical side, place a proper fence around the home, and rain gutters. They will allow you to enjoy the outdoors while protecting your home's foundation and landscaping.
Exterior Lighting
Your Home's Exterior Appeal
Many of the features that are important to potential buyers are on the inside of your home. Working on your home's exterior for curb appeal is critical for getting buyers in the door for a tour.
With so many options for home improvements big and small - you're on your way to selling your property fast and getting the best price for your home!About the Author
Katie Tejada is a writer, editor, and former HR professional. She enjoys writing about events, travel, decorating trends, and innovations for the home, but also covers developments in HR, business communication, recruiting, real estate, finance, law, and investing.
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