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Spend vs. Save
Where do you spend vs. where you do you save when it comes to home improvement?
A smart homeowner knows where to spend their money and where to save. If there's a chance you'll be selling your house any time in the future, it's good to know what features / home improvements are most desirable among homeowners today.
Zillow Digs analyzed the sales of over 2.8 million homes across the U.S. and determined which key features were most desirable in homes, and how they affected the selling prices around the country. Interested? We were too. Read on...
BARN DOORS. You've seen them in all the HGTV shows. Sliding barn doors in the kitchen, to the pantry, over the master closet - barn doors are everywhere. According to the report homes that had "Barn Door" in the listing sold for average 13.4% more than expected and a whopping 57 days faster. Where was the most common metro for barn doors? You may be thinking somewhere in TX, but no - it's Phoenix! (Sorry, Chip & Joanna Gaines) We believe this trend will fade, but for now, it's trending. Spend on Barn Doors if you're selling your home within the next year or so.
HEART OF THE HOME: let's talk about kitchens. What do buyers want today?
SHAKER CABINETS. Cabinet styles come and go, but if you are thinking about redoing your cabinets, it's interesting to note that listings with "shaker cabinets" sold 9% above expected, and 45 days faster. If you've ever seen HGTV's Flip or Flop, they use shaker cabinets all the time. (Which makes sense, because the most common metro with shaker cabinets is Los Angeles, CA.) SAVE on those high end custom cabinets that are very taste-specific. Yes, you may love the sleek industrial look, but buyers aren't so keen on that, so save your money. SPEND your money on classic cabinets, like shakers.
SUBWAY TILE and FARMHOUSE SINKS were also features more desirable than their counterparts. Homes listing "subway tiles" were sold for 7% more than expected and a whopping 63 days faster. If you're thinking about an elaborate, taste-specific tile, think again if there's ever a chance you'll sell. Listings with "farmhouse sink" sold for 8% more. Last but not least, QUARTZ and GRANITE were highly desirable. Quartz saw a 6% sales premium, and Granite gave a 4% boost. If you have tired tiled counters or worse yet, Formica, consider swapping out to quartz or granite. SAVE your money on heavily patterned, wild granite countertops. You may love it, but chances are the next buyer won't be as enamored. Stick with a classic, timeless look.
Why does it matter?
According to the latest census records, we will move an average of 11.7 times in our lifetime! Even if you stay in the same vicinity, chances are you will be selling your home at some point.
If there is a possibility of you selling your home, knowing what features are most appealing to the widest number of buyers is important. For more see the full Zillow Digs report.
Hmmm, what are you going to do with all that money you've saved?