Pittsburg was once a thriving steel production hub that earned its nickname ‘steel city’ due to its significant contribution to national steel output. The steel industry brought wealth and prosperity to the city, which drove its industrial growth and attracted investors and residents both.
The real estate market of Pittsburg has been witnessing steady growth with a considerable rise in demand for homes, and this demand is driven by several factors like affordable living, a diverse job market, lively neighbors, etc. Redfin reports that the median home value in Pittsburg is currently at $259,250, with a 1.3% increase year over year. This trend represents favorable circumstances for homeowners in Pittsburg to enhance their properties’ resale value.
This article will provide helpful tips to increase the resale value of your home in the Pittsburg real estate market. Maximize your investment returns and benefit from the flourishing real estate market by implementing intelligent upgrades and renovations. This strategy can help you achieve your financial goals and secure a profitable return on your home when and if you decide to sell it.
1. Remodeling Bathrooms
Elevating the bathroom is essential, as outdated fixtures and worn-out tiles can diminish the appeal. Research conducted by House Method found that a typical bathroom renovation provides a 64% return on investment. This helps us realize the importance of investing in bathroom upgrades to increase the resale value of your home. Upgrading your fixtures, refreshing your flooring, and incorporating eco-friendly features can enhance your bathroom and promote sustainability. These simple yet effective changes can significantly improve your bathroom’s appearance making it more appealing. If you want to renovate your property’s bathroom, you can contact a reputed company for bathroom remodeling in Pittsburgh to do the work for you. A well-designed and regularly updated bathroom can leave a positive impression on prospective buyers.
2. Improve your Property’s Curb Appeal
If you want to improve your home’s curb appeal, investing in landscaping is a good idea. You can create an attractive, well-maintained exterior by planting vibrant flowers, trimming shrubs, and keeping your lawn neat.
Another option is to give the exterior a fresh coat of paint to spruce up its appearance. Improving your home’s exterior is a wise investment that can have a lasting impact and potentially increase its market value.
3. Upgrading the Kitchen
The kitchen is commonly referred to as the center of a home and can significantly impact its worth. Obsolete kitchens may not attract potential buyers. Enhancing the kitchen by upgrading cabinets, incorporating modern appliances, and installing an island or breakfast bar is advisable. These enhancements can make your kitchen more practical and visually attractive.
Did you know that minor kitchen remodels in Pittsburgh can bring you a return on investment of approximately 81%, according to Remodeling Magazine? This means that by upgrading your kitchen, you can significantly increase the value of your home and even attract potential buyers. Modernizing your kitchen is a wise investment that can pay off in the long run.
4. Energy Efficiency Upgrades
As in many other cities, environmental sustainability has become a significant focus in Pittsburgh. Local buyers tend to prioritize energy-efficient features in their homes due to their positive environmental impact. By incorporating renewable energy systems, such as solar panels or geothermal heating, you can reduce your carbon footprint and appeal to eco-conscious buyers. Including these energy-saving features can increase the marketability and value of your Pittsburgh home.
In Pittsburgh, homeowners can benefit from various incentives and rebates offered by local, state, and federal governments for implementing energy-efficient upgrades. These incentives can lower the initial costs of the upgrades and make them more financially feasible. By participating in these programs, you can increase the value of your home and attract potential buyers who appreciate energy efficiency.
5. Finish or Remodel the Basement
To truly enhance the value of your Pittsburgh home, you can maximize the potential of your basement. It’s highly recommended that you renovate the space to create an additional living area, entertainment space, or home office. By finishing your basement, not only do you increase the livable area, but you also significantly boost the overall attractiveness of your property.
As per Remodeling Magazine, a finished basement can offer a return on investment of approximately 70%. Investing in basement renovations can be a smart move to increase your home’s value. By converting your basement into an attractive and functional area, you can attract potential buyers looking for additional living space.
6. Add Smart Home Technology
As a homeowner, you can’t afford to ignore the rise in popularity of innovative home technology. The trend is as high in Pittsburg as in any other city. Integrating intelligent thermostats, security systems, and lighting controls can make your property attractive to potential buyers.
Innovative home technology provides convenience, promotes energy efficiency, and enhances security.
Reports from Security reveal that a significant portion of homebuyers, precisely 70%, are interested in purchasing a smart home. Moreover, 78% of these buyers are willing to pay a premium price for a property equipped with intelligent devices. Notably, millennials are more inclined towards innovative home technology than older generations.
7. Upgrading your Garage
Owning a garage is a valuable asset as it provides ample space for parking vehicles and storage and even serves as a potential workshop area. In Pittsburgh, where severe winters can cause damage to vehicles due to snow, ice, and other weather conditions, having a garage enables homeowners to park their cars safely. This added functionality is highly desirable to potential buyers, particularly those with multiple vehicles or seeking additional storage space.
The parking facility also offers a safe and protected vehicle area, guarding against theft, vandalism, and inclement weather.
Conclusion
Pittsburgh homeowners can boost their properties’ worth through strategic upgrades and renovations. The city’s rising demand for housing presents an opportunity for maximizing your investment. Increasing the property’s curb appeal, upgrading the kitchen and bathrooms, investing in energy-efficient features, utilizing the basement space, incorporating innovative home technology, and adding a garage to your home are all effective ways to enhance your home’s value.