Oregon’s real estate market is constantly changing, but there are a few home improvements that consistently add value. According to a 2021 report from Redfin, homes with these features sold for more than the asking price:
- New kitchen: A modern and well-designed kitchen is a top priority for many homebuyers. Upgrading your kitchen with new appliances, countertops, and cabinetry can significantly increase your home’s value.
- Back patio or large deck: Outdoor living spaces are in high demand, especially in Oregon’s beautiful climate. A spacious back patio or large deck can make your home more attractive to buyers and increase its value.
- Large living room: A generous living room is another desirable feature. It provides plenty of space for entertaining guests or relaxing with family.
- Attached garage: An attached garage is convenient and secure, and it can add value to your home, especially in areas with variable weather conditions.
- Wood-burning fireplace: A wood-burning fireplace is a classic feature that can add warmth and charm to your home. It can also increase your home’s value, especially in areas with cold winters, such as in the mountains where it has been known to snow.
Keep in mind that the value of above features can vary depending on the specific location and condition of your home. For example, a new kitchen in a high-demand neighborhood may be worth more than a new kitchen in a different neighborhood.
If you’re considering making home improvements, it’s important to do your research and consult with a real estate professional to determine which improvements will add the most value to your home.
Here are some additional home improvement ideas to add value to your home:
- Choose high-quality materials and finishes: Opting for durable, aesthetically pleasing materials can elevate the overall appeal and longevity of your improvements.
- Hire a qualified contractor: Working with a skilled and experienced contractor ensures that the improvements are executed to the highest standards, enhancing their value and minimizing potential issues.
- Get multiple estimates: Obtain quotes from different contractors to compare costs, quality, and timelines. This will enable you to make informed decisions and secure the best value for your investment.
- Ensure compliance with building codes: Adhering to local building codes and regulations is essential for both safety and ensuring the improvements contribute positively to your home’s value.
- Document the improvements: Keep a record of the home improvements you undertake, including photographs and receipts. This documentation can be invaluable when showcasing the added value to potential buyers down the line.
By following these tips, you can increase the value of your home and make it more attractive to potential buyers.
