When you know what appeals to the home buyers of today, and consider them when remodeling will pay off years from now when you eventually sell your home.
Privacy from neighbors remains at the top of the most-wanted list. Important to 86 percent of buyers. And 60 percent of respondents want a mix of housing in their neighborhoods. according to the National Association of Realtors®. And privacy is no doubt the best feature of my home, since I can only see one neighbor’s house and it’s a couple hundred feet down my driveway.
You probably won’t be able to move your neighbors farther away (I wish I had superpowers), but I increased my home’s privacy (and therefore its resale value) by planting a living privacy screen of trees and shrubs and screened off my patio from my neighbors prying eyes.
Three more ideas for the next time you remodel:
1. More and more generations are living together. Another NAR survey, the “2015 Profile of Home Buyers and Sellers,” found 13% of buyers purchased a home suited to a multi generational household due to children over the age of 18 moving back into the house, cost savings, and the health and taking care of aging parents.
Even if you’d rather live in a cardboard box than with your mother, you might want to consider the multi generational living trend when you’re remodeling. For instance, opting for a full bath when finishing the basement could offer more convenience for you now and boost your home’s resale value by making it more appealing to a multi generational family.
2. On average, homeowners live in their home for 9-10 years. Since you’ll be in your home for a long time, it makes sense to remodel to suit your taste but also with long-lasting marketability in mind.
I caution against going so far out of the norm for your neighborhood as it might turn off potential buyers even nine years from now. I suggest getting your REALTOR®’s opinion on your remodeling plans.
Related: Home Upgrades with the Lowest ROI
3. Energy efficiency is a high priority to home-buyers . Heating and cooling costs were “very important” to 85 percent of buyers. If your home could use an energy-efficiency upgrade, go with projects that have a solid return on investment, like sealing your air leaks and adding attic insulation.
By the way, to cut back your energy bills, you need to do at least four things because of rising energy costs.
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