Amenities that Improve Property Value

SweisKloss Sunset Park New Build

Amenities that Improve Property Value

by Sweiskloss Staff
May 30, 2024

Whether you’re preparing to put your house on the market or interested in increasing your home equity, strategic amenities and upgrades can increase your property’s value. Research conducted by Zillow and The Harris Poll in November 2022 found “that 65% of sellers who have sold a home within the past two years take on at least two home improvement projects to prepare their home for sale” (Zillow). Here’s what the experts are saying about some of the most desirable home improvements. Kitchen Design
The kitchen is the heart of the home and a “major focal point for potential buyers” (TotalSoCalHomes.com). Open plan kitchens with expansive islands, plenty of countertop space, and task lights all make meal prep and the home itself more attractive. According to Living in California, “upgraded appliances … as well as modern cabinetry and storage solutions can attract home buyers and yield a higher return on investment.” Designing a kitchen with plenty of storage and an appliance “garage” for frequently used items such as blenders and food processors allows for better use of space and is an appealing enhancement. Think custom cabinets with features to organize utensils and spices and don’t forget to install outlets for all your gadgets. Energy Efficient Enhancements
From double pane windows to electrical appliances, “investing in energy efficient improvements can lead to increased home values,” according to Freddie Mac. Homeowners can eliminate gas, reduce emissions, and lower utility bills with convection appliances, electric heat pumps and tankless hot water heaters. According to Zillow, “converting your heating and air condition system… to an electrical heat pump could pay for itself” in terms of its resale value and return on investment. Add to the list of energy efficient improvements that add value to your home: double pane windows and doors, solar panels, LED lights and insulation. (Zillow’s 2023 sell analysis found that LED lighting is associated with a 1.5% sale premium.) Smart Homes Technology
“According to the Zillow® Group Report 2023, 42% of buyers rate smart home technology as highly important in their home search.” Coldwell Banker’s survey found similar results, as “homes with smart features are 81% more appealing than those without.” Smart home security systems connected to cameras, motion detectors, and alarms not only offer safety “but tend to attract more interest in the housing market.” Devices such as smart thermostats save energy and costs, “… while promoting an eco-conscious lifestyle.” Smart integrated technology blends comfort with function and convenience. Additional Usable Square Footage
“Homes are valued and priced by the livable square feet they contain, and the more livable square feet, the better” according to Bankrate. With more people working remotely, convert a spare room into a home office with built-in shelving and cabinetry. ADUs have been gaining popularity in recent years and “offer homeowners a way to increase their property value while creating additional living space” (Living in California). Outdoor Spaces
“Outdoor spaces… have potential to raise the value of a property” (Living in California). The importance of patios and outdoor spaces has increased since the pandemic, according to Forbes. Home buyers look for outdoor spaces not only for entertaining but to de-stress and reconnect with nature. Adding a deck, pergola, outdoor lighting or a firepit can enhance the functionality of the outdoor space and “provide a seamless extension of indoor living, making a backyard more attractive to potential buyers” (Living in California)