We’ve all heard the expression about skeletons in your closet. Typically, the closet can carry negative connotations BUT in real estate it can be one of the biggest positives attributed to your home. There are a couple of great tips to use your closet space to enhance a purchaser’s impression of your home. Here are a few things to consider on how closets can add value to your home.
First and foremost, if you were to ADD a closet into either an unfinished space or a bonus room of sorts, you can most likely now consider that space an additional bedroom. An extra bedroom traditionally can catapult a home into a new pricing category and increase the amount of interested buyers. In most markets there are significant price increases when going from a two bedroom to a three bedroom OR a three bedroom to a four bedroom. However, going from a four bedroom to five bedroom seems to be a smaller change in value. Other criteria are still needed such as its own two means of egress. It should also be evaluated if an additional bedroom can/will change tax assessments or septic maximums. If it can safely be deemed a bedroom, then it should positively have an effect on your home’s value.
Closets can also increase the value of your home by giving the impression of ample space. When the closet is clean, organized, and breathable, a purchaser will feel as if all of their belongings will easily fit inside the home. The opposite impression would be given if it’s messy and busting at the seams. A purchaser might think to themselves “if this person’s stuff can not fit then surely mine won’t either.” Using professional systems installed by companies like Closet Factory can create valuable space and free up ample storage. Purchasers will pay more for a home with lots of storage and the sense of MORE space.
Having an extremely organized closet can also give buyers the impression that the owners take great pride in their home and even in the small details such as a closet. If an owner is proud of their closets then surely they’ve maintained the bigger items. People will pay more for a home that they feel has been well maintained. A clean closet is just one of the subtle ways that you can convey a sense of trust and respect.
One of the last ways that you could capitalize on your closet to increase the value of your home is by making it look good. A good looking closet is particularly attractive to certain purchasers. This can be done by hiring the pros to custom build you a quality system OR it can be done simply by coordinating items. Grouping similar colored items is pleasing to the eye and again reinforces that sense of pride. Organizing like items gives a buyer the reason to believe that you pay attention to the small details. The look and feel of a closet can lead one to have a positive impression of the home and its value.
As a side note, you may want to pay particular attention to the master bedroom’s closet. A typical recommendation is to try and clean it out to be less than 50% full. If married, it might be wise to ensure that both genders clothing is represented within the closet. If all of one’s gender clothes are in a separate bedroom it can give off the impression of two possible scenarios; either there’s not enough space for both to share OR the owners are going through a separation. Both can negatively affect negotiations and price.
If you’re looking to increase the value of your home, don’t use your closets to hide clutter. Rather take the time to make it enhance the overall showing of your home. Closets can be used to create the feeling of additional space, give the impression that you are proud of your home, and can look good. A new closet might even enable you to market your home with a newly created bedroom. Buyers will certainly be looking into your closets so get the skeletons and cobwebs out of them and make it shine! And as always, if you don’t know where to start be sure to consult the professionals or be sure to check our site for your own inspiration.