features (2)

Best home features to draw the highest sale price.

photo credit: Jeremy Levine Design via photopin cc

photo credit: Jeremy Levine Design via photopin cc

Investing money in a rental property or a flip can yield great dividends.  However, not all improvements are equal.  It is important to put your money in the right places in order to have the greatest impact on the home's value.  Here are the top features you can add to a home that will likely draw the highest price.

New Deck

The addition of a deck is one of the best improvements that can be made to a home.  In fact, Remodeling Magazine published a report that stated over 85% of the money spent on a deck will likely be recovered when the home is sold.  This compares favorably to 78% of the money spent on remodeling a bathroom.

Decks add another usable area for families to entertain or relax.  It is wise to plan out the deck properly in order to maximize space, function and appearance.

Sunroom

One of the hottest trends over the past few years has been the addition of sunrooms.  These areas allow homeowners to feel close to the outdoors while staying comfortable inside.  Skylights and tile floors are common in sunrooms.  Owners can choose to have the room heated or not, depending on climate and budget.

A sunroom will add to the total square footage of the home but at a cheaper price than adding other types of rooms such as bathrooms or bedrooms. The best place to put a sunroom is just off a major area like a living room or kitchen.

Office

More companies are offering employees the option to telecommute and freelancers are growing in numbers every year.  For this reason it is quite common for people to need a specific work area in their home.  Having an office in the home makes it easier for people to get their jobs done and the area can be a deduction on taxes.  Popular features are multiple electrical outlets, internet line outlet, open space and storage cabinets.

Light and Space

Tight, dimly lit spots are a real turn off for potential buyers.  If there are areas in a home that do not have access to sunlight then it is a good idea to add electrical lighting.  Recessed lights, adjustable lights and modern light switches add a contemporary feel.

Besides adding light you can opt to add more space.  This can be accomplished by removing walls that block off areas from each other.  Many homes now have a wide open spot comprised of the kitchen, living room and dining room.  This allows a number of people to socialize with each other without the need for everyone fitting in to one small room.

This is not to suggest that all the above features need to be added to a home in order to increase its value.  These are simply some of the best ways to recover costs and attract buyers to a home.


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Changes in Popularity of Features in New Homes

The national economy runs through cycles similar to the fashion industry. Things that seem irresistible and trendy this year may be old news by the time next year rolls around. As a result of the economic down turn from the past few years most home builders are turning their attention to items that are practical instead of luxurious.

Sunrooms

Sunroom-300x225.jpg?width=300As a whole, sunrooms are declining in popularity. According to Rose Quint, a representative of the National Association of Home Builders (NAHB) “Builders are focusing on features that add immediate value and make a home more practical.” For example, most builders are choosing to add linen closets and walk-in closets in place of a sunroom.

Separate Living Room

Most builders feel that a formal living room will not be very prevalent in new construction for the upcoming year. Families would prefer to have one giant open area that encompasses the living room, dining room and kitchen.

Media Room

Along with the living room, the media room will also likely disappear. The extra cost of the equipment, along with heating and cooling another room that is used sparingly, is just not appealing at this time. What is more likely to appear in new homes is a hidden away station that holds all of the DVD players, cable controls and charging stations for cell phones, tablets, and other media devices.

Two Story Family Room and Foyer

Since builders are approaching new homes with more practicality, it makes sense to cut down on unused space. While a family room may be bigger in new homes to include the dining and kitchen areas, it is unlikely to be two stories tall. The same goes for the elegant foyers that stretch toward the sky with large windows. Both of these features of a home may be lovely in appearance, but they each have a lot of space that is not used by a family of four or more.

Whirlpool Bathtubs

A large tub designed for relaxation and luxury is less likely to part of a new construction in the upcoming year. A separate tub laid out in a classic style is more useful and can be used to make a fashion statement while also having an everyday use.

Luxury Bathroom

Large bathrooms that include walk-in showers and multiple shower heads, as well as lots of floor space, will be harder to find in a new house. Instead, the shower will be smaller, with a single head, and the kitchen will likely include a double sink.

Outdoor Kitchen

Outdoor-Kitchen-300x199.jpg?width=300The outdoor kitchen will probably disappear from lots of new homes. While it can be a nice place to gather with friends or family for a birthday party or to watch a football game, it also requires having an extra appliance or two. Most families would rather prepare the food inside and simply transport it to the patio and save on the cost of the additional appliances.

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