Surprising Things That Boost Home Values
Buying a house is as much an investment as buying stocks or mutual funds, but we happen to like the tangibility of something we can touch, feel and LIVE IN! Our home is a refuge and sanctuary – a port in the storm, figuratively and literally – and it’s been compared to a forced savings account. Make those monthly “deposits”, do a few little improvements, and watch your investment grow in the form of escalating equity!
According to Consumer Reports, Zillow and HGTV, there are a number of things homeowners can do to increase the value of a new build home once purchased – some in the design stage, some after move in. Here are a few tips and bits of advice from the valuation experts.
Countertops, Flex Rooms and Energy
Engineered from stone chips, resins, and pigments, quartz countertops have begun to challenge granite and marble as the go-to material in higher-end kitchens. In objective tests conducted by Consumer Reports, quartz shrugged off heat, scratches, cuts, and stains and requires none of the upkeep of comparably priced natural stones. Expect to spend $40 to $100 per square foot installed, realizing a three to seven percent boost in value over other stone choices.
When comparing floor plans, opting for flex rooms can also add value. Also known as double-duty rooms, flex rooms can be used as additional living space for a variety of uses, from a guest bedroom or exercise room to an office or study room for the kids.
Another feature of new builds that is catching on with buyers is energy efficiency. High- efficiency windows – for example — can save on home energy bills by seven to 15 percent and are one way to boost value. Smart lights, doors, locks and thermostats are additional lures that can increase the value of a home – perceived and actual — according to Consumer Reports.
The Zillow Group Report found that 42 percent of Generation Z buyers and 37 percent of millennials rate smart home technology as highly important in their home search. Smart thermostats are a popular and relatively easy add-on as are things like voice-assistant-controlled light bulbs.
Trees, Bushes and Landscape Design
If you’ve been hunting for a home, you’ve no doubt noticed how beautiful landscaping adds to curb appeal. A Clemson University study found that homeowners get a 100 percent or more return on money put into landscaping. Experts advise home buyers of new builds to start landscaping immediately because it takes five to seven years for plants to mature. And, master gardeners and landscape designers advise against buying and planting “willy-nilly,” but rather spend time with or hiring gardening experts to help in planning and design.
According to a variety of gardening gurus, trees are a valuable addition to landscaping, whether in your yard or in your neighborhood. According to a University of Washington research survey, trees around your house or surrounding it within your community can boost home values. For example:
Value Increase Condition of Trees
2% Mature yard trees
3% Larger street trees
3-5% Trees in front yard
6-9% Trees in the neighborhood
10-15% Mature trees in a high-income neighborhood
For more home improvements that increase the value of your home, check out Zillow’s list for the best ROIs.
Home Values Rising in Crystal Valley
One of the best things about moving into one of the new homes in the master-planned community of Crystal Valley is the neighborhood’s desirability. Surrounded by nature but minutes from shopping, entertainment, dining and recreation, the beautiful models from Richmond American Homes, Kauffman Homes, Century Communities and D.R. Horton – in ranch or two-story models – are priced from the high $300s. Come by and visit one of the fasted growing area in Colorado!