6 Luxury Home Renovations That Guarantee Boost in Property Valuation
Have you ever wondered why some properties appreciate faster than others?
Some houses double in value every 10 years while others struggle to even get a decent return on investment. There are several factors that come into play, such as the location and details.
Between a grade-A house and grade-B house, for example, the former will have more luck where property valuation is concerned. A boost in financial return is even more dismal with a grade-C house.
This doesn’t mean, however, that the purchase price will remain the same by the time you decide to sell the property or refinance. There are ways to improve property valuation and give your home a bit of financial kick.
So before you speak to a real estate agent about selling, you should make a few changes in your home.
Ways to Improve Property Valuation
- Updated Kitchen
- 6-Plus Car Garage
- Spacious Walk-In Closets
- Collapsible Window Wall
- Addition of Entertainment Value
- Smart Home Technology Systems
A majority of today’s buyers, especially first-time homeowners, are millennials, most of which consider a modern kitchen to be a deciding factor. But even when your target is the high-end market, an updated kitchen remains an irresistible lure.
What most people are looking for are stainless steel and quartz. New stainless steel kitchen appliances are often linked to something modern and updated, so you will never go wrong with replacing old appliances with new ones. Go for black stainless steel or one with a softer reflective finish.
Quartz countertops, on the other hand, are often used in higher-end kitchens and have become a more preferred choice than marble and granite. What is even better is that the material is resistant to cuts, stains, scratches, and heat.
Commercial upgrades in your home would also work to your advantage. Who wants to say no to a fridge that lets you know when food is about to expire or extensive counter space equipped with new technologies?
Well-to-do buyers are looking to snag a home fitted with smart technology. If you can do the same in the kitchen, you could close a deal quickly.
The high-end market is always looking to showcase their toys, so adding 6 garages or more can definitely boost property valuation. If you still have a lot of room for such additions, don’t hesitate to call the best construction company for the job.
Avoid doing DIY because installing garage doors and other mechanisms require professional skills and knowledge. Check out reviews of construction companies to help you choose the best contractor for the job.
Walk-in closets in every bedroom is a selling point buyers will highly appreciate. Who doesn’t love an oversized closet space?
But you can easily convince a buyer to snap up the property in a blink if that spacious closet also comes with a built-in organisation that is custom designed according to your needs. Think of a closet system that comes with drawers, moving hanging bars, and a cubby storage.
Add a curved dressing bench and that walk-in closet can be a dream.
Transitional indoor-outdoor space has been popular for some time now, but the latest trend is the use of a collapsible window wall. Unlike French doors and sliding glass doors, the collapsible wall disappears into the wall literally, creating clear continuity from the indoor to the outdoor space.
A buyer who loves to entertain a lot would love this feature, especially when the flow starts from the kitchen and goes straight to an outdoor entertainment space.
Make sure the outdoor living spaces is a comfortable and fancy extension of your indoor living area.
The high-end real estate market is willing to pay for luxuries that you are less likely to find in midpoint-priced properties. These include a swimming pool, workout facility, and/or a theatre room.
Adding these leisure features are sure to bring in the buyers. Just make sure you do not add something that is specific to your taste, like a mini-amusement park in the yard.
It is best that you know and understand your target market before you decide to add other facilities in your home.
As previously mentioned, luxury home buyers would not hesitate to buy a house equipped with automated systems that include security alarms, thermostat, entertainment system, cameras, and shades. They want to be able to control their smart home systems with just a touch of a button, through voice assistants, or remotely via their smartphones.
For the high-end market, such features add sophistication to a property.
Now that you know what renovation works can boost your property’s valuation, get in touch with a reliable building contractor right away. Once the project is completed, have your home listed with a real estate agency handling luxury homes.