The site that rates home properties based on local sales, has just released a report on how to add value before selling your home. Their research team looked at the 100 most common terms found in recent home listings to identify trends in what people are looking for in a new home. They looked deeper to find which of these wish list items return the most money for investment.
If you think of granite countertops, wood floors or a new deck at the top of the list, you might be surprised to read that none of these three are mentioned. In fact, most of the top six home improvements that generate profitable sales today are unexpected. And some do not cost a ton of money to add.
1. A wine fridge
Vendors who had a wine fridge in their house list sold their home for 22 percent more than similar listings. The trend was particularly strong on the west coast, with Los Angeles topping the list.
The numbers: You can add a wine fridge to your home for as little as $ 150. Many styles can be freestanding and simply need to be plugged in. For a seamless look, replace a kitchen cabinet with a wine fridge. Considering that you can recover tens of thousands of dollars on a small investment, this upgrade is one you should not ignore.
2. A steam shower
Having a glass-enclosed steam shower is like adding a wellness spa to your home. And buyers are looking for one, especially in colder places like Chicago. Of all the six upgrades on this list, steam showers are the item that offers the biggest increase in selling prices. Houses promoting steam showers sold 29 per cent more than listings that did not mention any.
The numbers: The installation cost usually includes upgrading to a glass shower cubicle, updating the tiles, adding a steam generation system or exhaust fan and plumbing. According to Zillow, the cost can range from $ 2,500 to $ 10,000, depending on whether you start from scratch or update an existing shower.
3. A pizza oven
Notice a trend here? It seems like buyers who are willing to spend more on a house are big on food and well-being. Pizza ovens are usually an outdoor feature and are much easier and less expensive to install outdoors, although you can also add a pizza oven indoors.
The numbers: Home sellers who had a pizza oven received 26 percent more for their home than those who skipped the simple upgrade. You do not need a lot of space to add a pizza oven to your garden or patio, making it a great way to add value before selling your home. A pre-made pizza oven can be picked up at a home improvement store for as little as $ 350.
4. Professional kitchen appliances
The search term “professional devices” ranks high with buyers. A professional kitchen is more than just stainless steel appliances; appliances are often of commercial quality, designed for those who are passionate about cooking.
The numbers: Homes with professional appliances earned a 29 percent higher selling price than similar listings that did not mention them. Some brands, such as Sub-Zero Refrigerator, have achieved an impressive 38% increase. Professional appliances start at around $ 1,200 for dishwashers and $ 5,000 + for high-end gas stoves and refrigerators.
5. Heated floors
Underfloor heating is luxurious equipment. Imagine waking up on a cold morning and walking barefoot on hot soils. Well, homebuyers are looking for this improvement in their next home, with buyers paying 24 percent more on the expected value of the home for that.
The numbers: The installation of heated floors requires construction work. The system must go under the floor, forcing homeowners to tear the existing floor and replace it. According to Zillow, homeowners should expect to “pay between $ 5 and $ 10 per square foot” – not to mention the floor – to install a system.
6. Solar panels
This eco-friendly upgrade is cost-effective, especially in the entry-level home segment at the lowest prices. House ads announcing “solar panels” enjoyed an average of 21 percent above the expected value of the house. When looking specifically at entry-level homes at the lowest prices, sellers pocketed 40% more if solar panels were included.
The numbers: Solar panels are priced according to the “watt of energy” they generate. Zillow reports that “the average American home with solar energy has a 6 kW system, paying between $ 2.71 and $ 3.57 per watt”. That’s between $ 10,000 and $ 15,000 for a system
When thinking about how to add value before selling your home, think about what makes the most sense in your area. A steam shower or underfloor heating may be more popular in colder climates. Solar panels or an outdoor pizza oven are best in areas with more sunny days.
Start with the easier and more affordable projects that add a gourmet effect to your kitchen and a spa feel to your bathroom and watch your home rise above the competition