Closet Blog: How Closets Effect Home Value
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Why a Custom Organized Closet Adds Value to a Home
Among luxury new home buyers, closets are a major priority. Custom organized closets, according to a survey from Homes.com, are a necessity in the high end market:
Among the 250 people surveyed, a whopping 75.9% chose a luxury closet and suite as their #1 desired amenity. After a luxury closet, respondents wanted a wetbar, and then a specialty tub. Other options were Italian marble flooring, en-suite mini-kitchen, indoor pool, wine cellar and sauna/spa room. This indicates that the custom, organized closet is a necessity when selling in the high end home market — especially for the master bedroom suite.
Closets, however, can be a financially smart choice in any home — whether high end, middle class, or even for first time buyer housing. Custom closets can add value to all of these types of homes in several ways:
- MORE SPACE: First and foremost, every homebuyer, even those who are downsizing, is looking for space.
- Luxury buyers desire an impressive home with ample room for entertaining.
- Middle class families want space for their kids.
- Empty nesters and those downsizing want less maintenance — but they need room for their lifetime collection of possessions.
- First time buyers are often moving out of rented housing and they want to make the most of their often small starter home, plus they crave the personalization unavailable when renting someone elses property.
- RECLASSIFIED SPACE: When adding a closet into either an unfinished space or an office / 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 Source: The Essential Handbook for Buying a Home by Karen Rittenhouse. For example, a two bedroom condo usually sells better than a one bedroom, even if only a single person lives in it, because people like the flexibilty of using a home office nook as a guest bedroom when the occasion arrises.
- HOUSE PROUD: Having a beautiful, organized closet can also give buyers the impression that the owners are "house proud" — the type of sellers who take pride in their home and have maintained it meticulously over the years, even spending effort and money on small details such as closets. These are the type of people home seekers want to buy from. People will pay more for a home that has been well maintained. A perfect closet is one way of conveying how well a home has been cared for.
- CLEAN HOME: No one wants to live in someone else's dirt. A clean house equals a sold house. The cleaner a home is, generally the faster it will sell, and for a higher price. A beautifully organized closet gives the impression of a neat and orderly home. Additional organization sytems such as custom wall units and entertainment centers will transfer a sense of tidiness to other areas of the home as well.
- NO CLUTTER: Clutter is a major detractor in the home selling market. According to a study conducted by ABC News,
a clean, clutter-free house can appraise 10 percent higher than the exact same messy home.A custom organization system can go a long way to eliminating clutter. When everything has its own easily accessible place to live it is more likely to be put away, there is less clutter, creating the illusion that there is ample room for the new homeowner's belongings and everything will easily fit into the home.
Custom Closets Are a Good Investment for Every Home, Because They Add a Sense of Increased Space, Elegance, Clutter-Free Cleanliness and Pride, Translating into Higher Sales Prices.
If you're looking to increase the value of your home, try installing custom closets or another custom home organization system. When it's time to sell, put away the knick nacks, photos and clutter so that the space appears larger and people can envision their own families in the home, not yours. A well designed organization system will include specific storage to deal with the individual clutter and surplus of possessions that everyone inevitably collects throughout their lives. Go a step further and use your closets to create a feeling of opulence in addition to space. Extra ammenities and closet organization accessories like special pull-down closet rods will add a touch of class and make your home stand out with a perceived higher value. Upper end home buyers will expect this and may even require a custom closet in order to purchase the home — or pay full value. Installing a wardrobe style closet into a room that has no closet may allow for the space to be listed as a bedroom, enhancing the value of the house. Even a basic custom closet gives buyers the impression that you care deeply about your home and have maintained it well throughout your tenure as owner. Presenting your home at it's best means a better price at sales time. Even if you don't plan to sell right away, a custom closet is an ammenity that doesn't wear out or go out of style. It will add value for the future while enhancing your own life in the home right away.
Closet Works is Chicagolands' largest and most experienced provider of custom storage solutions. Since 1987, we have been helping homeowners by creating custom closets, pantries, bookcases and more to help organize their lives. Great ideas to "Organize Your Life" and examples of our custom organization solutions can be found throughout our website. For more information on Closet Works call toll-free at 800-4-CLOSET (800-425-6738).