Whether you’re planning on remodeling or designing a new custom home, you want to ensure you’re making a solid investment. Certain features can greatly affect your home’s resale value and the time it spends on the market — and it’s not always immediately clear which upgrades will have the biggest impact.
Meanwhile, though certain features may enrich the quality of your life, they may not have the best return on investment if you’re planning to sell one day. It’s important to understand the net financial value of home features before you decide to move ahead with your remodel or home design.
To help you with that part, we’ve compiled this list of great home features that will both raise your home’s total value and get potential buyers salivating — while netting you a great ROI. Here are a few of the smartest investments.
An Open Floor Plan
Not only will an open floor plan add more natural light and enhance the sense of space in your home, buyers will love it too. According to the National Association of Home Builders (NAHB), 32% of surveyed home buyers said they were looking for a home with a fully open kitchen-family room layout, while 45% had an open concept kitchen-dining area in mind. If you’re designing a new home, including an open floor plan may increase the chance that your home will sell later — just make sure to keep it kid friendly, avoiding split-level plans or anything with extra steps.
A Master Suite
A master suite with a connected bed, bath, and walk-in closet infinitely raises your home’s luxury quotient. It’s also a super smart investment for your new custom home. According to Remodeling Magazine’s 2018 Cost vs. Value Report, a high-end master suite adds an average of $123,797 to your home’s resale price.
To get the most out of this addition, consider including upscale features in your master suite, such as an en-suite sitting room adjacent to the bedroom, built-in bookshelves or storage, an elegant gas fireplace, or a dual shower system in the bath with a double sink vanity. Not only will these features raise the value of your home, they’ll also make life a lot more comfortable and convenient for you and your family!
Beautiful hardwood floors are a classic look that holds plenty of appeal for today’s buyers — and tomorrow’s. Unlike carpeting, tile, laminate, and other flooring materials, solid hardwood has been a mainstay among homeowners for decades, a choice that’s not likely to go out of style any time soon.
And this upgrade is well worth the cost; research from the National Association of Realtors shows that homeowners who opt to install new wood flooring typically recoup about 91% of the initial cost. For a truly stunning statement, opt for exotic textures and finishes, such as hand-scraped boards, whitewash stains, or reclaimed wood. Bonus points if the materials are certified sustainable by the Forestry Stewardship Council.
A Large Patio, Deck, or Other Outdoor Living Space
As our lives increasingly become more tied to technology, homeowners are beginning to recognize the importance of getting outdoors — any way they can. Spacious patios, decks, covered outdoor dining areas, outdoor kitchens, balconies, and more allow homeowners easy access to nature without ever leaving the comforts of home.
Additionally, these improvements have great ROI. A new deck adds an average of $9,065 to $11,239 to your home’s value, while a patio can increase the resale price by $25,769. To complete the effect, try including a built-in firepit, plush seating, landscaped pathways, outdoor lighting, and of course, plenty of greenery.
A Luxury Kitchen
A custom home build is the perfect opportunity to build the kitchen of your dreams — and those of future buyers. Traditional upgrades like custom all-wood cabinets, granite countertops, walk-in pantries, and top-of-the-line appliances are a must, but there are some additional features that will add to the richness to your kitchen area.
For instance, consider an island cooktop, a built-in wine cabinet, a double-wall oven, touch-sensitive faucets, or a wide picture window to really raise the “it factor” in your interiors. Features like these can be quite expensive to add into a remodel, but if you’re building your own home from scratch, including luxury kitchen upgrades will ultimately be quite lucrative.
Ready to make the best investment of your life and get a great, new custom home to boot? Contact Paradisa Homes today to talk to our team of experts, learn more about our custom home building process, and see our floor plans and features. Your dream home awaits!