More and more homeowners are looking for ways to earn money by reselling their homes. According to National Association of REALTORS®, 5.64 million existing houses were sold in 2020. This is a 1.9 percent increase from 2019, marking the highest number of sales since 2006.
This year, in February and March, there is a decrease in days on the market as we get closer to the spring and summer months. This housing statistic demonstrates an increase in demand and competitiveness following the pandemic, with purchasers snapping up houses as soon as possible. In today’s market, ensuring your home is in top condition is more critical than ever before putting it on the market.
While many believe that location is the most critical factor in reselling value, many outdoor features can provide value to your house’s resell market. Here are 5 features that you should be aware of:
A Deck or Patio
A wood deck can provide a great return on investment, with an average of 80.4 percent of the costs being recouped upon resale. If you don’t have a deck, now might be the time to add one – especially if your home’s exterior is lacking in curb appeal. A patio is also valuable, although it typically won’t provide as high of a return as a deck.
You may add considerable value to your home by expanding the size of your current deck or patio. Consider adding an outdoor kitchen or dining area if you have the space. These features are especially popular with millennial buyers.
The average cost of constructing a patio is between $3,000 and $4,000. While the average price of a deck is between $9,000 and $10,000. If you’re planning on selling your home soon, it’s important to factor in the return on investment when deciding which feature to add.
Swimming Pool
Most families with children prefer a home with a pool for obvious reasons. A pool can be a major selling point if you live in an area with a warm climate. While not everyone wants a pool, those who do are often willing to pay a premium for a home with one.
Pools can range in cost from $20,000 to $100,000 or more, depending on the size and type. Inground pools typically provide the highest return, followed by above-ground pools. If you’re considering adding a pool, it’s important to factor in the upkeep cost.
Pools require regular maintenance and can be expensive to keep clean and in good repair. They also need liability insurance, which can add to the cost. If you’re thinking of adding a pool, be sure to factor in these costs before making a decision.
Garden Room
Sometimes, the garden takes up space in the yard and is not used to its full potential. If this is the case, consider adding a garden room. Garden rooms can be used for various purposes, such as an office, studio, playroom, or exercise room. They can also be a great way to add extra living space to your home without going through the expense and hassle of a complete addition.
Garden rooms are getting more popular as they provide a secluded space that can be used for various purposes. The best garden room ideas include a wide variety of features, such as skylights, French doors, and built-in shelving. Garden rooms can be constructed from various materials, including wood, brick, and stone.
The average cost of adding a garden room is between $5,000 and $10,000. However, the return on investment can be significant, as buyers are often willing to pay a premium for a home with this type of extra space.
Landscaping
A house without landscaping is like a cake without frosting – it’s not quite complete. Landscaping can add beauty and curb appeal to your home, making it more attractive to potential buyers. It can also increase the value of your home by as much as 20 percent.
The best landscaping ideas include a mix of different plantings, such as trees, shrubs, and flowers. You should also consider adding a walkway, patio, or other landscaping features. These features can add both beauty and function to your yard.
The landscaping cost varies depending on the size of your yard and the type of plantings you choose. The average price of landscaping is between $2,000 and $4,000. However, you can often get a significant return on your investment, as buyers are often willing to pay more for a home with beautiful landscaping.
Home automation
A house that has home automation is a much more desirable option for buyers because it provides several benefits, such as energy efficiency, security, and convenience. This can save you money on your energy bills by making your home more energy-efficient. For example, you can set your home automation system to turn off the lights when they’re not needed or to lower the thermostat when no one is home.
It can also make your home more secure. For example, you can set up security cameras and door locks that can be controlled remotely. This can give you peace of mind knowing that your home is secure even when you’re away.
Home automation can be a great selling point, as it appeals to buyers looking for convenience and features that will save them money. The cost of adding home automation varies depending on the type and number of features you choose. However, the average price is between $1,000 and $2,000.
Add value to your home
Whether you’re considering selling in the near future, these improvements can add value to your home. Be sure to factor in the cost of each before making a decision, as some may be more expensive than others. To make appropriate and confident selections, you’ll need a thorough understanding of your property and local real estate markets. You can also consult a professional real estate agent to get their expert opinion.
