When it comes to real estate, we are living in different times than we in 2005. There was all the reason in the world to trade-up back then. Today though, people are either nervous or don't have the option of changing to a new house so what does one do? Learn to love the house you're in.
So if you are able to swing it, now is the perfect time for some home improvements, not necessarily to up your resale but more so that you can love the home you're stuck with. This could be the perfect time to give your home the features you've been pining for.
Realtors from around the country have said that buyers are looking for more space, modern conveniences and luxury touches.
For more space, the way to go could be creating the illusion of size. The future of homes are that getting smaller and smaller. Things you could do are taking unneeded doors off their hinges. This creates a bigger visual space. Or a glass, perhaps french, door to add more light into the room.
Other options could be knocking down a wall. Most people only want half a wall or no wall seperating the kitchen from the family room. That will surely alleviate the claustrophobic feeling.
Another brilliant move would be to convert wasted space. Some people complain about a lack of living space but have an unfinished basement just collecting dust. Maybe it's not even a basement. Plenty of you out there have a room that has become sort of a catch-all or some room that no one even goes into. There is no cheaper way to expand your space than to change your unused guest room into a much used playroom. Or perhaps an out of the way storage room into a much needed home office.
A great idea which is gaining much popularity is an outdoor room. This can be as easy as landscaping or as involved as a new deck, retractable awning or a stone wall. Some are even enclosing their porch for a year round sun room.
Then there are the little modern conveniences that people just put on their list "for the next house". Things like two-sink bathrooms, a laundry room or central air could not only make you more happy and comfortable but can also add a lot of value down the line. A popular decision would be to put the laundry room near the bedrooms. No one likes to lug around laundry bags and people have been paying for poor planning for too long.
When it comes to a touch of luxury there are plenty of little splurges to choose from. You may or may not get that dollar value back, depending how crazy you go, but you'll certainly get value out of it's use. Either way it will be a selling point if you can get yourself to part with your home.
Splurges like a big soaking tub in the master bathroom. People are really digging the idea of a spa like retreat in their own home. If you have the room a seperate shower from the tub can be quite appealing, especially if the shower has multiple heads shooting in numerous directions.
Other popular luxuries are in the kitchen. Although it looks fancy to have really expensive commercial grade appliances, most people simply don't need all that. If you, like a lot of families, use your kitchen for eating, hanging and doing homework in then you'll want to focus your money and efforts into a breakfast bar or center island. Even those who don't cook love a luxury counter surface, just don't go for trends. Concrete and stainless steel tops probably won't be in when you go to sell but things like granite will never count subtract value.
You won't be the only one happy with your improvements, resale value and eye catching features can only help you in the long run. Of course if you give your current home the features you desire in your next home, perhaps you'll end up not wanting to leave after all.
http://money.cnn.com/2008/06/19/real_estate/tips/home_with.moneymag/index.htm?postversion=2008062403
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