4 Big Factors in Determining a Home’s Value

    Whether you’re a homeowner or a buyer, here are 4 important factors to keep an eye in your home or potential home. For homeowners, we provide some improvement projects that can help boost your home’s appeal and consequently, its value.

    09 Kitch_IMG_1223_IMG_1227 copyKitchens & Baths

    One of the prime areas of value in a home are the kitchen and baths. Buyers overwhelmingly prefer kitchens and baths with updates and upgrades: while some DIYers and designer-oriented buyers may love the challenge of updating a home, for most buyers, the less work they have to do to “get the home ready” before they move in, the more appealing the home is.

    Popular features include ceramic tile or hardwood floors, granite or marble counter tops, stainless steel appliances for the kitchen, and finishes such as elegant tile backsplashes and updated lighting fixtures. These projects can be on the more expensive side though. Smaller changes like updating cabinet knobs, installing a new faucet fixture, or a fresh coat of paint in a neutral color can make a difference!

    Space & Versatility

    Bigger homes tend to have more value, especially if they feature rooms like offices, finished basements, and dens that offer versatility and options for how to use the space. While this is not a feature that most homeowners will be able to change, changes such as finishing an unfinished basement, finishing a garage or loft space, or expanding an outdoor area like a deck, patio, or seasonal room may benefit current and future homeowners. Prospective buyers should consider not only how they’ll use a home, but how future buyers might use it as well.

    modern-living-roomCleanliness and Overall Appeal

    A home may be a great deal but can still languish on the market. One of the major reasons is the impression a home makes on buyers that enter the home. Homes should be showcased by being organized and as appealing as possible to as wide a variety of buyers as possible. Buyers may not be able to see the wonderful features of a home if they’re distracted by odors, mess, dust, and clutter. Easy steps to increase appeal are dusting and vacuuming, moving clutter into cabinets and storage, deodorizing (remove cooking & pet scents), and making sure all the light bulbs work. More extensive projects may include repainting bright or bold rooms with more neutral colors, removing fading wallpaper and painting, steam cleaning carpeting, and redoing grout – buyers should be able to easily picture themselves in your home.

    Curb Appealhouse-front

    We’ve been with clients who have seen the front of a home and decided to skip the inside entirely. As noted above, first impressions count! Don’t miss out on buyers because your home just needs a little sprucing up outside. Some easy to moderate “fixes” are making sure the landscaping is neat (trim trees, weed the flower beds, plant some fresh flowers, mow the lawn), sealing cracks in the driveway or steps, spreading new mulch, or repainting the front door. More expensive or time consuming options include powerwashing or refinishing the exterior, replacing old-fashioned outdoor lighting fixtures with more modern (or solar!) fixtures, replacing the front and garage doors, and removing rotting or dangerously-placed trees.

     

    If you’re thinking of selling a home and want to have a free consultation about your home’s value, give us a shout. If you’re thinking of buying and want advice on home value, also give us a shout!

    National award-winners and seasoned Realtors with over many years of experience in Northern & Central New Jersey, Rahul & Smitha and their team have become New Jersey’s “Go To” agents and consistent leaders with a reputation for tenaciously protecting their clients’ interests. They specialize in Morris, Somerset, Essex, Union and Passaic counties.

    www.SRRealEstateGroup.com | www.Morris-Homes.com | www.TheTownhouseExpert.com

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