Many homeowners want to know how to increase the value of a home. There are many ways to increase the value of your house. However, I always recommend that my clients first consider remodeling their kitchen. Online research may show different information regarding which remodeling projects provide the largest return on investment. However, statistics prove that a kitchen remodel always provides the highest return on investment (ROI). Moreover with over 28 years of experience as a residential real estate agent in north county San Diego, I have always confidently recommended this to my clients. Likewise, homeowners will see the greatest increase in the value of a home when the kitchen is remodeled.
How to Increase the Value of a Home
Typically a homeowner asks how to increase the value of a home when they are considering selling their home. Most importantly, there are three judgments when selling a home that establish the actual value of a home. First judge includes home buyers, then neighborhood real estate agents, and finally an appraiser. Below I will discuss how to increase the value of a home. First it is important to understand why these three opinions are so important. Many times I have seen a buyer walk into a home to find an outdated kitchen. Unfortunately the result is the buyer instantly determines the house will not work.
It is not uncommon for a buyer to grossly overestimate how much it costs to remodel a kitchen, or misjudge how long the kitchen remodeling process takes. In North County San Diego county, due to the abundance of top state ranked schools, most home buyer’s in this area are looking to for a “move-in” ready house that they can settle into before the school year. There are also a number of North County residents who consider moving because they’re interested in a more upgraded house than their current home. Regardless of their reason for moving, I have never seen someone walk into a home and say “I have to have this bathroom! We will make the outdated kitchen work.” Most buyers will see the value of a home when the kitchen is highly upgraded.
Increase the Value of a Home with a Kitchen Remodel
Once you have a buyer interested in your home they will go to one of your neighborhood real estate agents. This is where the finer details of your upgraded kitchen are important. Most real estate agents will not only be able to determine the value of the materials used and design trends. Instead they will compare your home to other properties that are listed for sale or recently sold. Finally, the buyer’s lender will order an appraiser who will provide the final decision on the value of a home.
If the buyer has cash then you’re in luck, and an appraiser is not necessary. However, more often than not a loan is obtained by a buyer to purchase a house and in the event the appraiser determines the amount of money the buyer is willing to pay is higher than the value of your home then you are out of luck. Below I have provided the key tools in successfully impressing your judges and how to 0increase the value of your home by remodeling your kitchen.
First way to Increase the Value of a Home are looking at the appliances. When choosing your appliances, the look isn’t necessarily how to increase the value of your home. An appraiser and a real estate agent will evaluate the capacity, energy use and efficiency of your kitchen appliances. Additionally, if you are planning on enjoying your new kitchen before you sell your home, consider purchasing appliances with a life time warranty to avoid additional costs for manufacture’s errors in the future. If financial constraints limit your ability to replace your old appliances, contact your local electric company regarding their special offers. San Diego’s local electric company San Diego Gas & Electric (SDGE) is encouraging energy efficient products by offering free replacements of all kitchen, laundry and bathroom appliances (subject to income qualifications)!
If you don’t qualify for your local company’s offer, there are additional ways to save while still increasing the value of your home which we will discuss later in further detail. First, do you research and focus on the most important criteria that will impress your judges which include capacity, energy use, efficiency, and warranty. Refrigerator can range from $1,500 – $9,000, and while your appliance sales specialist may recommend the top of the line refrigerator, purchasing anything but the lower end of the range without compromising the functionality, can offset your cost to value ratio. Once you do a cost/quality analysis, purchase these items at one time to receive the largest discount.
Second way to Increase the Value of a Home is timing. Timing is everything, even when it comes to remodeling your kitchen! Throughout the year there are many opportunities to get deals on materials for your new kitchen. In September and October, many manufactures unveil their latest models. This provides the best opportunity to purchase the previous model. Holiday weekends are often another great time to buy. Likewise, many families don’t leave room in their budgeting for kitchen remodels during this time of year. If you strategically plan your budgeting you will avoid paying higher prices. Moreover this will lower stress associated with the remodeling process.
Let there be light
Next way to Increase the Value of a Home is allowing light into the home. Some of the best photos of homes for sale are of houses that allow light. Many buyers will detest a small, dark kitchen but there are a variety of options that can help fix a dark and compromised layout. If your kitchen doesn’t have an existing window nearby, consider installing one to allow natural light into the space. Alternatively a skylight is a favorable alternative. Moreover, if there is an existing window but you still have an issue with lighting, consider installing custom window shutters to allow for light and privacy.
On the other hand, there are many alternative ways to allow light into your kitchen. Consider energy efficient lighting fixtures that can dramatically improve the look and feel. As well as lower the monthly utility bills. Moreover, it is important to have stylish light fixtures. Keep in mind that many people value an energy efficient home. Talk to a contractor, or take a look at a current magazine for current lighting trends.
An ideal kitchen allows for practicality and functionality, so you may need to add or remove stools from a center island or breakfast counter, install a wet sink to give your island purpose, or add/remove extra storage space. Lastly, if your kitchen is connected to your dining room, an elegant arched doorway without a door can open the space of your kitchen as well as your dining room. These modifications are sure to impress and will effectively add value to your home.
Quality of Materials
Everyone loves the look of travertine and handmade wooden cabinets. On the other hand, it is important to keep the quality of materials throughout your home consistent. Avoid the feeling of warping through time as you walk through your home. Likewise, if you are removing popcorn ceiling then certain materials may draw attention to the rest of your outdated home. A combination of granite counter tops, elegant lighting fixtures, and porcelain or laminate flooring will compliment and add value to most homes.
Finally, Increase the Value of a Home by continuing routine maintenance. Once your kitchen has the quality of appliances and materials we discussed you are near the success of increasing the value of your home. Routine maintenance such as cleaning, repairing leaking faucets, chipped cabinetry, and repaving old or stained grout is crucial. With water and food splashing around, kitchens are prone to producing wear and tear within a short amount of time, so it is imperative to maintain proper upkeep of your kitchen to avoid additional fees for repairs. Keep in mind that when a buyer walks into your home they will be analyzing how well you have maintained the home; therefore unclean and un-repaired items will have a negative reflection on the overall value of your home. If you feel overwhelmed with the task of repairs and cleaning, consider hiring a professional to assist you with these tasks.
How to Increase the Value of a Home
In conclusion, avoid buyers from walking straight into and out of your home. Update your kitchen to increase the value of your home. Upgrading your kitchen appliances and features with quality materials can shorten the length of time your house is listed for sale. Additionally it will impress your buyer, local real estate agent, and appraiser. While it is always important to show all areas of your home in the best light possible, many buyers will see the value of a home if the kitchen is up to date. When upgrading your appliances, quality of materials, and lighting, remember that the efficiency and style is important. Before you splurge on that dream kitchen or add an extra bedroom, make sure you consult a professional. For a free market evaluation of your home, complete the contact form to the right of this page.
About the author:
The above Real Estate information on How to Increase the Value of a Home was provided by James Jam. The #1 Individual Berkshire Hathaway HomeServices Real Estate Agent in San Diego County. James can be reached via email at email@example.com or by phone at 858-210-0509. James Jam’s personal philosophy is “Dreams Made Real” that encompasses the perfect real estate experience. It is the gold standard that he has strives to provide throughout his career as a residential real estate agent since 1989.
I service Real Estate sales in the following San Diego County areas: Carlsbad 92008, Carlsbad 92009, La Costa Carlsbad 92009, La Costa Valley 92009, La Costa Oaks 92009, Carlsbad 92010, Carlsbad 92011, Encinitas 92024, Olivenhain 92024, Rancho Santa Fe 92067, Rancho Santa Fe 92127, La Jolla 92037, Lake Hodges Escondido 92029, Elfin Forest 92029, Solana Beach 92075, Del Mar 92075, Cardiff by the Sea 92007, Del Mar 92014, and Carmel Valley 92130.