|20 things that can alter the value of your home
|By Dana Dratch
Here are 10 features that can add value to your home,
and another 10 that could reduce the sales price.
|Here are 10 things that can add value to your home.
1. An updated
kitchen. "Kitchens are critical," says Robert Irwin, author of
"Home Buyer's Checklist." "Today, people like a big kitchen with
a lot of workspace."
They look for solid surface counters
and high-quality flooring, such as wood, laminate, tile or stone. And they want
newer appliances in working order.
Even if it's not huge, it
should have "countertops that are servicable, that aren't going to have to
be replaced soon and cabinetry in good condition," says Alan Hummel, past
president of the Appraisal Institute. "It has to be well-appointed and large
enough to fit your needs."
It also doesn't hurt if it opens onto another room.
"A lot of families are looking for that openness," says
It helps to have a window over the sink, says
Don Strong, a remodeler with Brothers Strong Inc., a Houston remodeling firm.
Be wary if renovations are out of character with the community,
such as granite countertops in a subdivision where plastic laminate is the norm.
"Will you sell faster? Yes," says Hummel, CEO of
Iowa Residential Appraisal Co., in Des Moines. "Will it sell for more? Not
if the appointments you've done are significantly higher quality than the rest
of the neighborhood."
Modern bathrooms. Buyers are looking for "master
baths that give a little room to roam," says Hummel.
A big asset is a spa or a whirlpool tub. "I'm
always entertained by the people who have them in the master bath
and don't use them," says Ron Phipps, principal broker with
Phipps Realty & Relocation Services in Warwick, R.I. "But
it's a big feature."
Some other features buyers are seeking are separate
showers with steam and/or multiple jets, a double sink, and a separate
room for the toilet.
And make sure the plumbing and water heater
can handle the job. The pipes have to be large enough to carry an
adequate volume of water and the water heater has to be big enough
to accommodate it. "You need a bare minimum of a 75-gallon
hot water heater and most of my customers have 100 to 150,"
says Chicago-based home inspector Kurt Mitenbuler.
"You don't want to see that false economy of
a $30,000 bathroom but nobody spent a few thousand dollars to upgrade the pipes,"
3. A well-appointed
master suite. "People are really excited about master
suites," says Hummel. The wish list: A luxurious bathroom,
lounging areas and walk-in closets.
4. Natural materials.
"People like natural materials," says Phipps. "Ceramic tile, hardwood
floors, granite. We've gone back to a real appreciation for historically true
materials. And simulated works as well. The look is very popular."
floor coverings -- especially bathrooms or kitchens -- look for ceramic tile or
wood rather than linoleum, which can tear, says Strong.
the rest of the house, wood or laminate products are a plus over wall-to-wall,
says Gary Eldred, author of "The 106 Common Mistakes Homebuyers Make (and
How to Avoid Them)."
But if you have carpet, it should be a good product
and well-maintained so that "a person doesn't have to walk
in and think, 'I'm going to have to spend five grand right off the
bat," says Strong.
appeal. First impressions are everything. A house that appears
tidy and well-cared-for will sell more quickly and for more money.
A good first appearance can add as much as 10 percent to the value
of the home.
A light, airy, spacious feel. "People buy
space and light," says Myra Zollinger, owner/broker with Coldwell Banker
Realty Center in Chapel Hill, N.C. "I have yet to have anybody walk into
a really dark house and say, 'I love this.'"