Traditional wisdom says that real estate is always a good investment and that property should appreciate over the years. U.S. homes increased in price 2.17% in the last quarter alone, despite the pandemic and resulting recession. That’s good news for Moreno Valley homeowners.
However, you can make the most of that natural appreciation by actively contributing to the value of your home. A property that is not maintained will not sell nearly as well as one that’s been upgraded with potential buyers in mind.
While any improvement is great, there are some specific things that Moreno Valley buyers love and that will always add the most value to your home.
- Extra bathrooms
If you’ve ever watched a house flipping show, you know that one of the things they do, when possible, is add another bathroom to the floorplan. The reason is simple: you can never have enough bathrooms, especially when the home only came with one, originally.
Sometimes, it even makes sense to turn a bedroom or a utility room into a bathroom. Buyers generally want their master bedroom to have an en-suite bathroom that they don’t have to share with guests or their kids. Increased privacy always adds value.
Adding that second or third bathroom adds a very attractive feature to the house. While the investment is not small, the return is even greater. According to PocketSense, a bathroom addition that can cost you around $100 per square foot can also increase the value of your home by up to 20%.
- Open floor plan
The other thing you may have seen on home shows is that the very first thing they do is start tearing through the walls, whenever they can. It’s common sense – older homes have a very closed-off floorplan, with distinct, separate areas for the kitchen, dining room, and living room. That can give the home a dark, closed-off, almost claustrophobic feeling.
Modern design favors open spaces, clean lines, and a floorplan that encourages flow, conversation, and togetherness. Young families in Moreno Valley want this to be a space where they can entertain, where they can be together, and that they can enjoy regardless of what they’re doing – cooking, enjoying a meal, spending time together, etc.
Studies find that an open floor plan results in a 7.4% yearly increase in your home value. Knock down some walls and you will instantly make the space seem bigger, brighter, and with endless potential – including financial.
- Quality countertops
It’s not just the big changes that add to the value of your home. A lot of the time, it’s all about the subtle touches and choices in materials, colors, and fabrics that can make the difference. Case in point – kitchen countertops.
Wooden countertops are perfectly nice, and can be perfect as a budget alternative. But if you’re really looking to bump the value of your abode, marble countertops are pricy, but beautiful, timeless, and highly coveted.
The next best thing is to go with granite or quartz countertops, which are less expensive, but still offer the same look, luxury, and long-term quality that marble countertops give your home. They not only add to the look, but also the price of your home.
- Smarten up your house
Traditional houses are beautiful – they have the historic, old world charm and gorgeous details that you’d be hard-pressed to find in more modern constructions. But just because your house is historic doesn’t mean your tech has to be. In fact, adding smart technology can attract a lot of interested buyers who are willing to pay for that luxury. Consumer Reports estimates that smart devices increase the value of the home by around 5%, in addition to making it easier to sell.
All smart homes rely on a strong internet connection, so that should be your first priority. If we’re looking at homes in Moreno Valley, fiber internet is your best option because it ensures the speed you need for all your home devices.
In addition to the regular Amazon Echo devices and smart doorbells, you’ll also want to look into devices like smart fridges that can tell you when you’re running low on milk and sprinklers you can control remotely.
- Hardwood floors – add or refinish
One thing buyers in Moreno Valley always look for are nice floors. In fact, a report from the National Association of Realtors suggests that new or quality flooring is in the top 4 things that buyers are attracted to in a home. If your home already has hardwood floors, you’ve struck gold – all you have to do is refinish them and they’ll look good as new. If not, allow us to strongly recommend installing all new hardwood flooring.
Yes, the expense is significant, and it’s a big job that will probably require some time away from the house. However, the complete transformation in the look, feel, warmth, and value of your home are entirely worth it, not just for you, but also for your potential buyers. 54% of them are ready to pay more for a home with hardwood floors.
- Increase curb appeal
Did you know that curb appeal is one of the most important aspects of your home? Think about it like this – the more attractive your home is, the more coveted it’s going to be, which drives the price up. And did you know that even something as simple as washing the outside of your house can add a $10,000 to $15,000 bump in the overall price?
Luckily, there are several improvements you can bring to the outside of your home, starting with the landscaping. Making an investment of a few thousand dollars can make a huge difference to the exterior appearance of your home and its overall price. A nicely maintained lawn, a new fence, and some light landscaping with rocks and shrubs can take your house from drab to wow.
A fresh coat of paint on the house and a sturdy new door in a contrasting color will give your place the new, attractive appearance you’re looking for.
The best way to increase the value of your home and ensure it’s going to appeal to buyers is to pay attention to what they want, what they look for, and what they’re willing to pay for. In Moreno Valley, that’s nice floors, extra bathrooms, a spacious open plan style, or luxurious touches like quality countertops or a smart home.
The investment in these projects isn’t always small, but it’s completely worth it. Not only will you recoup the costs, but you’ll increase the overall value of your home and make it much more desirable in the eyes of Moreno Valley buyers.