Luxury Home Upgrades That Offer the Best Return on Investment
Whether you’re about to list your home for sale or simply want to update a few of your home’s key features, you should always be thinking about the return you’re going to see on that investment. Fortunately, there are several luxury home upgrades that are both easy and cost-effective, and if (or when) you do decide to sell, they’ll help you attract the right buyers.
Invest in Smart Home Technology
We wrote about smart home technology recently, and it has such a major influence on your home’s value that it warrants being included in this list, as well. If your home’s appliances and other systems are out of date, that’s a great place to start.
Consider adding smart appliances, smart security, and other technologies that make you feel safe and get the most enjoyment out of your home.
Take Your Luxury Features Outside
Modern homeowners want an outdoor living space – not just an enclosed backyard. Trends today feature everything from water features to full-blown outdoor kitchens, so there’s no right or wrong way to do. Just know that buyers are looking for an outdoor area where they can relax and entertain, and if your property lacks those features, it could be a potential challenge when buyers compare your home to others in the area.
Here are a few ideas:
- Upgrade your patio
- Upgrade or create a rooftop deck or garden
- Install a hot tub or swim spa
- Install a gas-fueled fire pit surrounded by seating for guests
Of course, if you already have an outdoor living area, one way to maximize that feature of your property is by improving the way it ties into the indoor living space (such as installing french doors or updating your outdoor furnishing).
Think Outside of Your Immediate Needs
It may not be at the front of your mind, but extra spaces like an in-law suite or guest quarters are a great way to boost your home’s appeal. Even if buyers don’t necessarily expect their extended family to be staying with them, most will see the potential for flexible living – anything ranging from an au pair suite to a place for adult children to stay when they come home from college for the holidays.
Whatever you choose to do to your home, it’s all about striking that perfect balance between your needs and the needs of any future buyers. Luckily, that’s not incredibly difficult when it comes to the amenities of a home, especially with an experienced Realtor on your side.
If you’re thinking of selling your home in the near future and hope to boost its value before you go to market, contact us to learn how we can help.