When you are selling your home, you want to get the top dollar possible. Sometimes, an investment in your home can be paid back and then some because it will be more desirable to purchasers. Here are three additions that can increase the value of your home.
Tankless Water Heater
Homes that have installed tankless water heaters have sold, on average, for four percent more than they would have otherwise. There are two separate benefits of installing this device in your home. The first is that your showers are not constrained by the amount of water that is in the hot water heater. This means that guests can use different showers at the same time. In addition, there is also a savings on electricity bills since this device is more energy efficient. Investments in smart energy devices help resale value by presenting potential buyers with something out of the ordinary.
While hot tubs and spas have some maintenance requirements, they are a popular feature and can drive up the cost of a house substantially. Many people like the idea of being able to come home from a long day at work and relax in the hot tub. When you add a hot tub to your home, you can present your home to buyers in an entirely different manner. Sellers are able to recover much of the purchase and installation price for the hot tub when they sell the home because buyers will almost always want to pay extra for anything that they perceive to be an amenity.
When you add a geothermal heating system, there is an upfront cost to drill the hole that reaches the energy source. However, heating bills are permanently reduced by a large amount. Buyers will be calculating the amount that they will be saving on future energy bills and will be adding that to the purchase price that they are willing to pay. Anything that you can do in the house that would save money can come back to you when you sell the home. Freedom from high electricity bills will make your home stand out and will ensure that buyers will pay a premium up front to save on bills later.
Additions to your homes should not be written off as sunk costs. Instead, they will come back to you in some form when you are ready to sell.