5 Surprising Things That Will Boost the Value of Your Home



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So you’re looking to sell your home… You’re probably wondering – like the most people who are in the same situation – is this the right time to put my property on the market? You’re in luck, because the recent numbers indicate that now it’s actually a perfect time for it.

According to a recent Zillow report titled “United States Home Prices & Values” home values in the US have gone up around 7.4% in the last twelve months. And that’s not all, as the company explains, the prices will rise at least 3.2% by the end of 2017…

But how can you determine the value of your house? Of course, you can always hire a professional to do the job for you, but there is no need to spend additional money on. So many people search online for apartments and other properties and there are tons of free resources you can use for evaluation process.

First, you need to realize that the price of your property depends on a number of different factors – and some of them you probably never thought about… Luckily for you, various researchers over the years have found numerous unexpected factors that influence home prices in the US significantly…

Surprising Things That Boost the Price of Your Home

1.    Photovoltaic Systems

For starters, you need to know that in California, homes with PV systems sell for more than $17K premium over the ones without photovoltaic solar systems, according to numbers provided by the US Department of Energy’s Lawrence Berkeley National Laboratory. But while an AV system will increase the price of your home significantly, we don’t want to mislead you.

You have to be aware that installing one of this systems is still costly. Their prices have dropped significantly in the last couple of years, but the cheapest ones still cost around $15K. So it would be smart to install one of these systems at least two or three years before you put the house on the market to recoup the costs…

2.    Open Spaces

What do we mean by open space? Just think public parks with recreational equipment; if you’re house is in a close vicinity of a good public park, it con boost the value of your property up to 80% in some cases. According to a study titled “Economic Benefits of Open Space, Recreation Facilities and Walkable Community Design” these “open spaces” boost the value of home:

  • A natural area: $10,648
  • A golf course: $8,849
  • A specialty park: $5,657

On the other hand, if the park close to your home is less than desirable – which means if the places overcrowded and not maintained at all – it can actually drag the price of your home down considerably. So if you live close to a place like that, try not to mention it, unless the potential buyer specifically asks you about it…

3.    Home Theaters

This may be a big investment to some, so will it increase the value of your home enough to make a good profit? The answer is simply – yes – it definitely will. As Karen Benvenuto, a successful real estate broker explains in this NY Times article, in the last couple of years, brokers have seen a ton of new construction that includes home theaters as a feature…

And why is this all of a sudden such a big trend? Well, simply because that’s what millennials are looking for nowadays… In addition, don’t worry, this doesn’t have to be a huge investment, you just need to get a good screen like Series 7 ULED 4K and a couple of quality speakers to create the perfect, low-cost home theater…

4.    Tree in Your Yard

No matter what mainstream media tells you, lots of people still passionately love nature. So it’s not really surprising that people, despite the maintenance needed, like to have a couple of trees in their backyard. As a matter of fact, according to last year’s research from the University of Washington, you can expect:

  • Mature tree in the yard increases value by 2%
  • Front yard mature trees increase value by up to 5%
  • Mature trees in high income neighborhood increase value by up to 15%

Naturally, you need to plant a couple of trees at least five years before you put your house out there, so while this is not an expensive investment, it still involves a lot of planning and a lot of effort. Keep in mind you’ll have to trim the branches, rake leaves and keep the roots out of sewer lines on a regular occasion if you want to keep everything in complete order…

5.    Sport Arenas

If you’re sports lover in the United States with a home close to a basketball, football or a baseball arena, you’re in luck. According to Feng Humphry’s Property Value report, a new sports arena con easily raise the property value of homes in a 2.5 mile radius by more than $2,200. And naturally, the closer you’re to the arena, the bigger increase in value is.

For instance, ten years ago, when Oklahoma City added an arena, the prices of went up significantly. On the other hand, if a stadium is only proposed, the value of your home, and other homes near you may decline a bit until the stadium is finished and this could last a couple of years. For instance, the aforementioned stadium in OKC took almost 10 years to finish…

Final Thoughts

As you can see, some of these things you can improve easily with a small investment in your home, while others… Well, you cannot really relocate your house and put nearer a sports arena… But if you really want to improve the value of your home cheaply, you just need to do what needs doing – and nothing more…

For example, you shouldn’t buy a completely new ceiling fan, if you can simply replace the blades, or you shouldn’t repaint the entire exterior of your house when you can simply touch up some peeling paint and get the job done….

This approach to home improvement will allow you to make a couple of small improvements instead of investing in one or two huge ones. The bottom line is – you need to know your target demographic – older and younger buyers have completely different wishes after all. So choose your home improvement projects carefully and know when you need to quit…

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