In today’s highly competitive housing market, selling properties quickly and at the desired price has become increasingly challenging. Take Florida, for instance. The average time it takes to sell a home in Tampa Bay has doubled compared to last year, indicating a more cautious buyer’s market. Similarly, Miami has witnessed a decline in the number of homes sold, with June’s figures dropping to 684 from 964 the previous year.
Given these circumstances, maximizing your home’s value is crucial to ensure a lucrative deal. While location and economy play a significant role, strategic upgrades to your property can give you a competitive edge and attract potential buyers willing to pay top dollar.
So, read on as we explore seven house upgrades that can help you attract potential buyers, create a unique selling point, and ultimately strike a lucrative deal.
1. Tub-to-Shower Conversion
If your home has multiple bathrooms with bathtubs, consider a bathtub-to-shower conversion to maximize selling potential. Showers use only 1/3 of the water compared to a bathtub. They’re time-saving and more hygienic. All of these factors make them appealing to buyers.
But here’s the best part: replacing bulky bathtubs with showers can make the bathroom feel more spacious and open. And in space-constrained cities like Tampa, where the average house size is relatively small at around 1,660 square feet, a bathtub-to-shower conversion can be a game-changer. On average, such a renovation project can yield a remarkable 70% return on investment when selling your home.
However, it’s crucial to hire BBB-accredited Tampa bathroom remodeling experts who can provide insights into local market trends and ensure top-notch quality.
2. Home Office
With the surge in remote work, having a dedicated and stylish home office has become a highly sought-after feature among home buyers. Studies have revealed that homes with a dedicated office space sell for approximately 3.4% more than those without. Furthermore, properties with home offices tend to sell nine days faster.
Additionally, it’s essential to consider the infrastructure necessary for an efficient home office. Buyers now seek information on internet providers, download speeds, fiber connections, and cell phone carriers, as these factors are essential for seamless remote work. By providing these details in your listing and creating a well-designed home office space, you can increase the desirability and value of your property.
3. Energy Efficient Upgrades
In today’s environmentally conscious world, energy efficiency has become a top priority for homebuyers. According to a study by the NAHB, 9 out of 10 homebuyers prefer homes with energy-efficient features and lower energy costs over cheaper homes without energy-saving upgrades. Another homebuyer survey revealed that ENERGY STAR-rated appliances and energy-efficient lighting were among the top 12 most desirable features out of more than 200 options.
To enhance energy efficiency in your home, you can install energy-efficient windows, upgrade your insulation, or incorporate a smart thermostat to reduce heat loss or gain. And if you still have fluorescent or incandescent lights in your home, replace them with LED lights. They last longer and use less energy.
When it comes to selling your home, one of the key factors that attract buyers is the idea of moving into a property without the need for extensive renovations or repairs. That’s where repainting can be extremely valuable.
Giving your home a new coat of paint can help create a desirable and inviting atmosphere. It gives off the feeling of a new house and makes yours stand out—just a few tins of paint and voila. You can potentially increase the asking price of your home by up to 5%.
When choosing colors for your repainting project, opt for lighter tones. Colors like off-whites, soft neutrals, and pastels can create the illusion of larger, brighter rooms. Lighter colors reflect more natural light, making the space feel more open.
5. Replace Kitchen Countertops
If your kitchen has been stuck in a time warp with bright laminate or ceramic tiled countertops straight out of the 60s, it’s time for a countertop makeover to bring your kitchen into the 21st century. Regarding popular choices for your new countertops, there are two options: quartz and granite.
Quartz countertops are an excellent choice due to their durability and low maintenance requirements. They’re naturally resistant to scratches and will maintain their pristine appearance for decades with proper care. Additionally, quartz offers a wide range of color options, allowing you to find the perfect match for your home’s interior style without compromising quality or durability.
On the other hand, granite countertops are a timeless option that can withstand the test of time without losing their luster or becoming dated in appearance.
6. Open Floor Plan
In today’s real estate market, home buyers are increasingly drawn to living spaces that offer a seamless flow from one area to another. By knocking down the right wall, you can create the spacious layout many buyers desire.
When considering an open floor plan, the kitchen is the first area you should focus on. Opening the kitchen space and allowing it to flow into the family room or dining area without obstacles can create an inviting and inclusive atmosphere.
An open plan is particularly appealing for young families – it allows busy parents to keep an eye on their children more easily while going about their daily routines.
7. Exterior Enhancements
When making home improvements, it’s easy to overlook the importance of exterior enhancements. But the exterior of your house sets the tone for what potential buyers can expect inside.
One simple and inexpensive upgrade is updating your mailbox. It may seem unnecessary, but it can significantly impact buyers’ first impressions. Even if you have a beautiful home but a dented-up old mailbox, when the buyers pull up to the house, they’ll instantly think about what the inside looks like if you can’t even replace a mailbox.
Another area to consider is your garage door. If it looks worn out, has visible damage, or makes strange sounds, it’s time for a replacement. To add charm and personality, consider incorporating window boxes with colorful flowers. Adding a chair or two to your porch can also help create a cozy and relaxing outdoor space, giving buyers a glimpse of the potential for enjoying outdoor living. Additionally, installing exterior lighting can enhance the aesthetics and safety of your home, especially during evening showings.
When selling your house, incorporating these upgrades can set your property apart and attract a broader range of potential buyers. However, it’s essential to consider your budget, market trends, and the preferences of potential buyers in your area before undertaking any upgrades. All in all, these enhancements can go a long way in making your house stand out from the competition.