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Wednesday, August 15, 2007

Features that add "Resale Value" to a Home

According to bankrate.com, a website that often covers the international real estate industry, the 10 features listed below add a lot of value to your home.
Based on my recent purchase of a new construction single-family home, I have added my comments for each of these features.

1. An updated kitchen
When we visited the model home, we really liked the granite counter tops, new appliances (that got me excited too!), lot of cabinets for storage, and an island in the center of the kitchen. The island is can be used for more countertop space as well as a small eat-in area. For my wife, this was the biggest selling point of the home.

2. Modern bathrooms
This is an important one. The master bathroom must have double vanities. That means, you and your partner each have their own space with a sink to get ready. Modern bathrooms also have a separate jetted bath tub and shower area. Modern light fixtures are a plus.

3. A well-appointed master suite
For me, the master suite was the selling point. A master suite must, at least, have enough space for a king size bed, dresser and 2 night stands. Separate space for a sitting area, tray ceiling, crown molding at to the value.

4. Natural materials
In floor coverings, especially bathrooms or kitchens, look for ceramic tile or wood rather than linoleum. If you have carpet, it should be a good product and well-maintained.

5. Curb appeal
Again very important. When you come home from work, your home's appearance should be a welcome sight. Nicely trimmed lawn area and uncluttered driveway go a long way in achieving good appeal.

6. A light, airy spacious feel
There should be enough light and cross air ventilation coming into the house. Being of Indian origin, we always consider a home where the front door faces the southwest direction.

7. Good windows
The house should have a lot windows. All windows must be properly insulated. Personally I prefer to have blinds on all the windows. Well-placed skylights are also a good touch to add value.
Unfortunately, I don't have any in my house.

8. Landscaping
Always have a well manicured lawn. A few plants wont hurt either. We are planning to have our back yard fenced for added privacy. I wouldnt mind having a swing, but that means less play area for my daughter.

9. Lots of storage
You couldn't go wrong with an over sized garage, some attic space and plenty of closets. We have a good sized 2 car garage, but we currently just have one car. So more storage space for us.

10. Basement
Having a finished basement adds even more value. Basements add a lot to your resale value. Unfortunately, we don't have a basement.

Related links:
* Buying a new construction home and making some money along the way

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2 comments:

Sam in TN said...

Adding tile will increase the value of your home especially in rooms like the kitchen and bathroom. Adding tile to an area like a backsplash is easy and makes a great weekend project. I attempted it my self 2 months ago and the results were great. My wife want tile in2 other rooms of my home now. You can get the tile you llike from most any store like HD or lowes. I got a great deal on a tile saw online from:

http://www.ishoptileequipment.com/

Wealth For Investors said...

Painting is proven to be the cheapest way to improve the value of your home.