Homeowners are sometimes hesitant to upgrade when it's time to sell. After all, you won't be living there much longer, and home remodeling efforts only increase home values by 64% of the average project’s costs, according to Remodeling magazine’s 2016 Cost vs. Value report.
However, other factors need to be considered. How soon do you need to sell? Have you already purchased another home? Do you need to be on location in your new city within a certain time frame? If so, the cost of inaction can be far greater than the small loss you’ll incur on any home-improvement projects. As your house lingers on the market, you'll likely pay the ongoing mortgage, maintenance and staging costs.
To make the most of your remodeling budget, focus on features that most home buyers really want to see. The National Association of Home Builders' (NAHB) 2016 Housing Preferences Across Generations report is a great resource to help home sellers identify the most desirable home features among recent and prospective home buyers. The NAHB surveyed more than 4,300 buyers nationwide, ranging from millennials to seniors.
They identified seven features that were the most often mentioned as desirable features in a home for buyers today. From separate laundry rooms to eat-in kitchens and hardwood floors to outdoor entertaining spaces, buyers revealed what it is that's important to them as they look for a new home. As you consider how your home stacks up against these wants, it's important to also consider what the home market in Omaha, NE is doing. When the market is strong and homes seem to be moving quickly, making these improvements may give you the edge against your competition but may not be worth the price tag. When the market is slower, these improvements may be just what you need to capture the heart of the potential buyer.
You can read more at https://www.kiplinger.com/slideshow/real-estate/T010-S001-7-features-home-buyers-want-most/index.html#eTk58iT7pSTqLmrZ.99Updated in 2016,
Until Next Time...
Dick Gibb and the Maximum Exposure Team