4 Amenities that Have the Biggest Impact On Property Value
Discover the most influential amenities that can substantially elevate your property's value, guided by leading industry experts. Unveil the transformative power of strategic upgrades from kitchen remodels to energy-efficient features. Delve into the insights that promise to attract buyers and yield high returns, all backed by authoritative voices in real estate.
- Kitchen Remodels Boost Property Value
- Energy-Efficient Features Increase Market Value
- Enhancing Curb Appeal Yields High Returns
- Functional Outdoor Spaces Attract Buyers
Kitchen Remodels Boost Property Value
The kitchen is hands down the heart of any home and the biggest factor in boosting property value right now. It's the space where families come together, meals are shared, and memories are made, so it's no surprise that buyers are laser-focused on it. A well-designed, modern kitchen can completely transform how someone feels about a property. I've seen firsthand how a great kitchen can elevate a home's appeal. For example, we remodeled a property in Clawson, Michigan, with brand-new white shaker cabinets, an open layout, and upgraded appliances. The kitchen alone became the focal point of the listing and drew so much attention from buyers. In the end, we got offers well above market value, and the kitchen was the number one thing everyone commented on during showings. Buyers today want functionality and style-think quartz countertops, soft-close drawers, and a big island for gathering. It's an investment that pays off because a standout kitchen doesn't just add value; it makes the home irresistible.
Energy-Efficient Features Increase Market Value
In the current market, energy-efficient features, such as solar panels or high-efficiency HVAC systems, have the biggest impact on property value. Buyers and renters increasingly prioritize sustainability and lower utility costs, making these features highly desirable.
For example, we added solar panels and smart thermostats to a mid-sized residential property, which increased its market value by over 10%. The upgrades attracted environmentally conscious buyers and justified a premium price due to the long-term savings on energy bills. It's a clear reminder that eco-friendly investments pay off in both appeal and profitability.
Enhancing Curb Appeal Yields High Returns
In my experience as a real estate professional in Ohio, enhancing a home's curb appeal has the most significant impact on property value in today's market. Simple exterior improvements, such as replacing the garage or entry doors, can yield returns exceeding 180% of their cost. For instance, a recent project involved updating a property's front entrance and landscaping, which led to a substantial increase in its market value and attracted more potential buyers. Focusing on curb appeal is a cost-effective strategy that delivers impressive returns for homeowners looking to sell.
Functional Outdoor Spaces Attract Buyers
Properties typically go for much higher than asking in this current market, but there are things that really make the difference for some. Most recently, my attention has been grabbed by functional outdoor spaces. Buyers are really into things like outdoor kitchens or grilling spaces, patios, decks, and gazebos. This is partly driven by the increasing integration of indoor-outdoor living and the blurring of the line between indoor and outdoor spaces. Any additional bathroom (full or half) also dramatically increases value. This is especially the case for properties that would otherwise have only one bathroom because it greatly increases the functionality of the home.
