Now more than ever, it’s crucial to know exactly what sorts of renovations increase the value of a home before you start planning your next project. Home life has been at the center of many of the recent shifts and reevaluations brought on by the public health crisis we’re still living through.
In 2022, many people will prefer to work from home, either in an indoor workplace or a brand-new outdoor space. If you’re looking to buy a home in San Diego, CA, here are some home improvement projects that a seller could do to raise the asking price.
New Floor Plan
Many buyers want an open-concept floor plan, which can be achieved by removing walls. An open floor plan that includes the kitchen, dining room, and family room is preferred by 85% of home buyers, 79% of home buyers, and 70% of home buyers, respectively, as reported by the National Association of Home Builders (NAHB).
A contractor or designer should be consulted before anything is torn apart, even if an open layout may let in more light. There will be restrictions to what you can do because homes with more than one story, like Colonials, will be harder to do, if at all.
Affordable (Not High End) Upgrades
According to the Cost vs. Value report published by Remodeling Magazine in 2022, the average cost to replace cabinetry, install new granite counter tops, and install high-end appliances in a 200 sq. ft. kitchen can cost approximately $26,200, but the return on investment is approximately $18,900 when the house is sold. Compared to getting back about 56% of the costs of a full kitchen remodel, this gives you an almost 71% return on your investment.
Do not install hot towel racks or heated flooring in the bathroom. Additionally, do not install frameless glass enclosures or spa-like shower heads. Ceramic tile can be used for the construction of both the fixtures and the floors.
Top real estate agents in San Diego, CA say many clients expect hardwood flooring in the home that their buying. When your home is similar to the ones for sale nearby, but for the hardwood flooring, you don’t want the price to drop as much. A buyer’s final offer price may be heavily influenced by that fact.
A home can look more modern and appealing when you go to showings or open houses if there’s a fresh coat of paint in a neutral color. The space will look fresh and clean, and it’s easier for you to see yourself living in the home. Plus, light neutrals in an small, but well-lit room can go a long way to make it look larger – so be aware of that.
Energy Efficient Upgrades
More than ninety percent of home buyers, according to the findings of research carried out by the National Association of Home Builders (NAHB), indicated that energy-efficient appliances, windows, and lights, can reduce energy consumption without compromising performance. For buyers, these features play a role in their purchase decision. take into account appliances such as washers, dryers, dishwashers, and refrigerators that have been certified as ENERGY STAR compliant.
Because of the improvements that made to your property, its resale value will go up regardless of when or how long you plan on staying in your new residence and thanks to the fact that you made those improvements.