Yahoo Finance 4 Renovations Proven To Help Your House Sell Over Asking Price
Much has been said about how difficult the housing market has been — and continues to be. Inflation, soaring rates and low inventory are paving a hard road for many buyers- and sellers. Yet, sellers can take steps to help them sell their house over the asking price — even in this environment.
Indeed, a recent Zillow report found that some features can help sell a home for as much as $10,000 more. For instance, outdoor TVs, outdoor showers and outdoor kitchens can boost a home’s price as much as 3.1% more, according to Zillow.
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“Homes with other desirable backyard features such as an outdoor shower, pizza oven and bluestone patio also fetch higher-than-expected sale prices when those features are mentioned in a listing description,” according to Zillow.
In addition, some viral or trendy features — like rounded corners — “can attract more competing buyers, contributing to a speedier sale,” Zillow noted.
Nikki Beauchamp, NYRS, associate broker, Sotheby’s International Realty, said it’s not just about selling above the asking but the speed to getting offers and being sold.
“With affordability compromised for so many — especially first-time buyers — the prospect of taking on necessary projects to enhance a home can be daunting on all fronts for a purchaser — making it worth, when feasible, to pay a premium for something that is move in ready and has had appealing updates done,” she added.
Here are some of these features, which according to experts can help boost a price:
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Landscaping
Elizabeth Altobelli, luxury property specialist, William Raveis, said that landscaping is “a hot topic,” especially considering the costs of hiring a talented landscape architect and designing various gardens or zones for select purposes.
“For example, rose-cutting gardens are beautiful and timeless,” Altobelli said. “There are also select plants ideal for privacy -like hemlocks- and work as sound buffers if you live near a busy street or a train station or enjoy entertaining in the backyard.”
According to her, knowing you can move into a home and count on the garden returning yearly with little maintenance is a huge selling point.
This Year – “It’s All About Doors”
According to Kristen D. Conti, broker-owner at Peacock Premier Properties, this year’s trends seem to be “all about doors and windows.”
“Everything from garage doors to front doors to window replacements with hurricane-resistant materials yield big results,” she said. “Not only in terms of the speed of sale but also in the return on investment.”
Joe Muck, realtor, J. Muck Realty, echoed the sentiment, noting that replacing or painting your front entry door is crucial.
“Depending on the condition of your front door, you may be able to get away with simply painting it to make it pop,” Muck said. “But if it needs to be replaced, it is still one of the most cost-effective improvements proven to fetch higher offers.”
As he explained, an attractive front door improves both digital curb appeal and curb appeal properly, getting passersby to take notice of your home.
Smart Home Products
These too can help a home sell for more.
“Things like smart locks, smart thermostats, and smart lighting are all in high demand from many buyers today,” said Seamus Nally, CEO of TurboTenant.
McNally added that they also serve practical, helpful purposes, doing things like improving the security of a house and improving energy usage, which saves homeowners money.
“The desire for these items, as well as the tangible benefits they bring, can often convince buyers to agree to a higher price,” McNally said.
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Luxury Amenities
Josh Rudin, owner of ASAP Restoration and house flipper, said that luxury amenities — like a backyard pizza oven — help increase the sales price for a home and “have a dramatic impact on the bottom line.”
“Some of my favorites that we have helped homeowners with over the years are sunrooms, home gyms, walk-in closets, pantries, skylights, game rooms, wine cellars, rooftop gardens, chef’s kitchens, secret rooms, gazebos and home theaters,” Rudin said.
He added that for instance, while a home gym doesn’t require much construction work to get it in shape, it usually means converting a space such as a basement or storage area into an actual room that you won’t mind being in.
In addition, he said that if it’s possible to add walk-in closets to your space, “do it!”
“Walk-in closets are like gold when it comes to resale price points because everyone thinks of them as an extra amenity,” said Rudin. “Luxury, even perceived, can bring in a hefty premium on a sale price.”
Another example is a gazebo, he said.
“A gazebo isn’t just a great backyard space to escape the sun while still enjoying the outdoors, it’s also a statement piece that forces your peers to keep up with the Jones’ and that carries a premium in the sale price,” he added.
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This article originally appeared on GOBankingRates.com: 4 Renovations Proven To Help Your House Sell Over Asking Price
