Making your house more efficient, adding square footage, upgrading the kitchen or bath and installing smart-home technology can help increase its value.
Closure of facilities – public services, employment, amenities; if any of these services close, it could impact the value of your house as they're often appealing to buyers. Low school ratings – buyers pay to live in areas with good schools because they want their children to have access to the best education.
You should upgrade your carpet if you don't want to replace it every few years. Higher quality carpet lasts longer, at roughly ten years, than cheaper options, lasting roughly five years, and will save you time and money in the future.
The average new builder upgrade cost is estimated at 20-25% of the cost of the base price of the home. On a luxury home, this cost can increase to 30-35% of the cost of the base price. Our model home had quartz countertops, 10ft high ceilings, 10ft/34-inch doors, oak floors and a designer-style backsplash.
So, it might not seem as though a new construction home price can be negotiated, which is why so many buyers never even bother. Every builder is different but, fortunately, the sales price of a new construction home generally can be negotiated!
A new kitchen can increase home value. In general, the value is expressed as the percentage of money spent on the remodel the homeowner recovers after the sale of the home. Better Homes and Gardens says homeowners can expect a return of about 52% on their investment in a new kitchen if they sell their home.
While each home will vary slightly pending on the home's location, size, and the builder that is being used, as a general rule of thumb, you should plan on spending around 12% of the base price solely on upgrades. For Example: Base price: $250,000. Upgrade Cost at 12%: $30,000.
If you are able to upgrade to a deeper, 24-inch cabinet, it's absolutely worth it. A deeper cabinet makes the fridge look more built-in, particularly if the fridge is counter-depth. It also gives you a deeper space for storage, avoiding the exposed, good-for-nothing area on the top of the fridge.
Carpet padding is always the best money you can spend in a carpet store! Put it this way, if you were to spend $3 more per yard on carpet, you may or may not be able to tell the difference. However, take that same $3 and spend it on an upgraded pad and it will make all the difference in the world.
Level 3 - This level we start getting into the really plush carpets. These are both nylon or polyester and have taller piles then the previous two levels. However, the taller the pile the sooner the carpet will start look flatten. These are great for families that spend a lot of time at home.
They say that the three most important things to think about when buying are home are location, location, location. You can live with almost any imperfection in a home if you love the neighborhood and your neighbors. You can change almost everything else. But, once bought, you cannot change your home's location.
Home size and usable space
The value of a home is roughly estimated in price per square foot — the sales price divided by the square footage of the home. Say a 2,000 square foot house sold for $200,000. The price per square foot would be $100. The price buyers will pay per square foot can vary greatly.
Factors that make a home unsellable "are the ones that cannot be changed: location, low ceilings, difficult floor plan that cannot be easily modified, poor architecture," Robin Kencel of The Robin Kencel Group at Compass in Connecticut, who sells homes between $500,000 and $28 million, told Business Insider.
But just how much value does a bathroom remodel add to your home? According to the RenoFi Renovation Index, on average, you'll be able to recoup somewhere between $13,688 (64% of the project's cost) for a midrange remodel and $37,995 for an upscale remodel (56.6% of the project's cost).
It's probably time for a little maintenance. No matter how much you love and care for your home, things are bound to wear out and need fixing — especially when you hit the 10-year mark. To keep your house in tiptop condition, consider making these updates every 10 years or so.