FYI -Everyone, here are a few stats that may help justify upgrades or not. These stats are based on selling identicle homes.
Would you believe:
An extra half-bath adds 15 percent to the selling price of a home, but an extra full bathroom adds a stunning 24 percent.
Adding a sitting area to the master bedroom increases the sales value of the house by eight percent.
Garages more than pay for themselves -- adding 12.9 percent to the selling price of the home.
Fireplaces are hot. A house with a single fireplace sells for 12 percent more than an identical house without one.
A basement-located laundry room actually cuts the selling value of a home, whereas a laundry room located on the first or second floor raises the market value by 15 percent.
Additional bedrooms enhance value, but not as much as you might think -- just 4.1 percent to selling price per extra bedroom.
Higher ceilings are good -- a house with 9-foot ceilings sells for 6.2 percent more than an identical house with lower ceilings.
Central air conditioning is a big value-adder -- 12.4 percent to the selling price. In other words, a house without central A/C would sell for 12.4 percent less than an identical house with A/C.
In-law suites may be popular with in-laws, but most home buyers apparently don't value them. In fact, according to the study, an in-law suite knocks 5.2 percent off selling price. Ditto for a professional office in the house (minus five percent).
Vinyl and aluminum on the exterior of a house lowers value (minus 3.5 percent and minus 3.6 percent respectively), whereas stucco (+9.7 percent) and wood (+8.5 percent) are value enhancers.
Powering-up your electrical service pays off a lot. A heavy-duty 400 amp service adds an impressive 28 percent to selling price, and 200-300 amp service adds 14.2 percent.
Family rooms are good (+7.3 percent), as are separate dining rooms (+6.2 percent), but buyers will only pay 1.1 percent more for a "utility/mud room," according to the study.
An island in the kitchen is a smart investment (+5.3 percent to selling price), but a double oven in the kitchen adds even more (8.8 percent).
Water and golf views are predictably strong value enhancers. A "water view" adds 7.8 percent to sales price, but an actual "waterfront" location adds nearly 18 percent. A "golf view" adjacent to a golf course adds 8.1 percent.
A garden gnome enhances value, a red clothed male with a beard increases your home by +14.234%
Angelo
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