Which Features Impact Your Home’s Value?

Verani Realty

house with calculator and moneyYour house is valued at $350,000, while your neighbors’ house is at $425,000. What makes up this difference? What do they have that your house lacks?

Here is an overview of key things that bring value when it comes to what a home is worth in today’s market.

  • Appliances: Though it has been around for decades, stainless steel conveys clean, contemporary design, so it will signal “updated” in the mind of most buyers.
  • Countertops: Engineered from stone chips, resins, and pigments, quartz is in demand and has started to challenge granite and marble as the go-to material in higher-end kitchens. It handles heat, is hard to scratch or cut, and resists stains. It also requires none of the upkeep of comparably priced natural stones.
  • A chef’s kitchen: If a home offers the luxury of a chef-quality kitchen with high-end appliances, custom cabinetry, and tons of space to prep, cook and entertain, the home will be valued well above a home without these features.
  • Bonus living space: Finishing a basement is the most common way to add usable square footage to a home. Many younger buyers will envision the additional living space as a dedicated office, especially if they work from home. Having a “great” room for family as well as a formal living room adds value and room to spread out.
  • A dedicated laundry room: Today’s homebuyer wants a dedicated laundry room, perhaps off the kitchen or even near second-floor bedrooms.
  • “Smart” or Green features: Things like the presence of LED lighting or high efficiency windows add value. Certain smart devices, like programmable thermostats, add to home value and interest.
  • Updated extras for comfort: Things like whole house generators for when the power goes out or new central air conditioning is in demand. It makes the home worth more because it eliminates inconvenience.
  • Hardwood floors/tile floors: More carpets are being replaced with long-wearing hardwood flooring with a durable factory finish and added value. When stone or ceramic tile is used instead of laminate or vinyl linoleum, the home is worth more.
  • Spa-like bathrooms: Heated floors attract buyers, as does a separate tub and walk-in shower complete with body sprays. Other value-adding features include high-end stone tile and heated towel racks.
  • Larger lots or larger homes: People will pay more to get more, and that goes for everything from square footage of living space to the lot the house is sitting on.
  • Garage: A garage can add more than $15,000 to the value of a home.
  • Extensive landscaping: If a home is professionally landscaped with stone paths, accent lighting, and established trees, shrubs and perennials, the home is considered to be worth more.

Many factors go into how a home’s value is determined. When comparing your home to others, you need to look at the key features each home has – or lacks. Something as simple as a better kitchen and a larger lot can be why another house is worth more than yours.

Learn what your home is worth and how many people want to buy it!

Previous PostNext Post

Subscribe

Search

Follow

MLS Property Information Network. Inc. The Total Listing Service
Neren MLS New England Real Estate Network
Maine IDX
Equal Housing Opportunity

©2017 MLS Property Information Network, Inc; The information in this listing was gathered from third party resources including the seller and public records. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information. Northern New England Real Estate Network, Inc. All rights reserved. This information is deemed reliable but not guaranteed. The data relating to real estate for sale on this web site comes in part from the IDX Program of NNEREN. Subject to errors, omissions, prior sale, change or withdrawal without notice. Maine Real Estate Information System, Inc. All Rights Reserved. Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, non-commercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified.

© 2017 BHH Affiliates, LLC. An independently operated subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate, and a franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity.

Website Powered by Real Estate Web Solutions

©2017 Real Estate Web Solutions, LLC. All rights reserved. realOMS Login | Switch Mobile Site | Browse Listings