When picking a property to fix and flip, a few of the most common ways to add value include: kitchen upgrades, finishing basements, a new paint job, and installing new flooring. However, there are a few other not so obvious ways to enhance your property, especially for the millennial crowd.
We live in a day and age where technology dominates our lives. We are more connected than ever through our smart phones, tablets, streaming devices and even our TVs. In a 2015 survey by Better Homes and Gardens, 64% of millennials surveyed were interested in having smart technology in their homes.
Here are six ways to improve your property and sell it faster:
- Structured Wiring
Most of the time homebuyers do not consider what’s behind the walls. So impress them by giving them things they didn’t even know they wanted or needed. Add wiring for things such as ethernet, coax, sound systems, ceiling fans, recessed lighting and security camera pre-wiring when the walls are open and drywall has not yet been added (or repaired). All these items will help add value.
2. Smart Thermostats
Advertising annual savings for a homebuyer is more than likely going to peak their interest. A simple $250 investment can help sell a 12-15% decrease on utilities. Smart thermostats help take out the guesswork by learning your routine and sensing whether you’re home or away, and can adjust your home’s temperature accordingly.
3. Light Dimmers
Like smart thermostats, light dimmers are another great money saving selling point. According to Energy Star, 12% of an annual energy bill for a typical single family home comes from lighting. Combining dimming and occupancy sensing lighting for a residence, an energy savings of 60% can be achieved claims Lutron.
4. Keyless Entry
Convenience is no longer a luxury, it is a necessity. Door locks that can be operated via wifi or bluetooth will beocme a norm. If you're looking to rent your fixer upper; instead of re-keying locks for each renter, you can simply reprogram you key code keys remotely.
5. USB Ports in Electrical Outlets
With our lives revolving around technology and the need to always stay connected, adding USB ports to electrical outlets will be another one of those perks buyers don’t know they need, yet. This upgrade is a cost-effective way to reap bigger benefits.
6. Radiant Floor Heating
This upgrade may not be on most homebuyers “must-have-list,” but it definitely is on their “desired” list. Anyone who tells you differently is not being honest with you or themselves! This affordable luxury is not only an energy saver, it encourages a healthy lifestyle!