The Seattle housing market is very popular. As a matter of fact, Seattle was the fastest growing city in the United States over the last decade. With the housing market booming, there is a ton of competition. Therefore, you may want to look into renovating your home before trying to sell it. This will help boost your value as well as ensure that you remain a prominent option in the competitive Seattle real estate market. Below, I will tell you about a few of the best home renovations to consider.
Kitchen Renovations:
Kitchen renovations are extremely favored in today’s real estate market. It is also one of the best ways to increase the value on your home. The most common reasons why someone would choose to renovate their kitchen is to update the cabinets and appliances or to make use of any extra space. When you are renovating other parts of your house, it is important to make sure that your kitchen is also being kept up to date because it is one of the first things that people will look at when they tour your home.
Basement Renovations:
A lot of times basements are filled with unused space or are never fully completed. Therefore, renovating a basement is a great idea. You can make use of the space, and you can turn it into a finished basement. Some ideas that are considered when doing a basement renovation are to turn it into a movie room, game room, full bedroom suite, or an apartment. It is all about your personal preference and what you would like to see the basement become. Although basement renovations require a lot of work and design, they are one of the top selling points of a house.
Bathroom and Plumbing Renovations:
Bathroom renovations require a lot of consideration as they involve a ton of work and typically make the bathroom unusable during the renovation period. However, a bathroom renovation usually turns out lovely and increases the luxury of a home. Plumbing upgrades can also save you or the new buyers water and electricity if you go with green fixtures.
Other things to think about adding when renovating your bathroom are modernized pipes, pull-out faucets, an efficient water heater, or even an extra bathroom. When the plumbing is updated and modern, the home will be more valuable to the buyer. They will realize that they will have no worries when it comes to any plumbing issues.
Seattle Real Estate Market:
For several years, Seattle’s real estate market has been the hottest across America, and it is experiencing no changes this year. In fact, it is red-hot this year. The median home price in the Seattle area is currently $759,735, and this number continues to grow. Although many people are being priced out of the Seattle area, more millennials are entering the real estate market looking for homes, which has increased demand. Sellers are definitely benefiting in the current market in Seattle as homes are selling for over 6 percent above the asking price.
According to KIRO 7 News, homes are being bought within just a couple hours after being listed as for sale. Open houses are also extremely popular with lines forming down the street from the doors. While the current real estate market in Seattle is tough, it has not stopped people from buying. Some are even paying $300,000 or $500,000 over asking price.
Real estate broker, Kendra Todd, provided her advice to those who are in the midst of searching for a home. She said to keep trying because the challenging market does not mean that it is necessarily a bad time to buy a house. Housing prices are only going to continue rising and “higher interest rates will shrink the buying power of prospective homebuyers.” She also mentions that you should buy a home only if you love it and plan to stay in it for at least five to seven years. The plus side is that if you buy a home and do not absolutely love everything about it, renovations are a wonderful option for you to consider. You can make any house into anything that you have ever dreamed of.
