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Do Custom Closets Raise the Market Value of a Home?
High Return on Investment
Not all home renovations offer a decent return on your initial investment. With a customized closet, however, you can almost always add the cost to the asking price and therefore increase the potential value of your home. When compared to other homes in your area without a refinished wardrobe, your home will be more appealing to potential buyers. Of course, the price on investing in those closet renovations varies. Affordable Custom Closets & Garages references this point in How Much Does a Custom Closet Cost and explains that it is not at all uncommon, for example, to spend $250 per linear foot on a walk-in closet or $1,200 on a smaller reach-in closet.
Gives the Sense of an Extra Bedroom
House hunters are always looking for more rooms. They want space to grow their families and have a place for visitors to stay while they are in town. Some homes, especially older ones, have limited closet space.
It’s accepted that homes with more bedrooms sell for more on average. Depending on the area, a three-bedroom home can sell for tens of thousands of dollars more than a two-bedroom in the same area.
Not only does the home increase thanks to the added bedroom, but it becomes more appealing to potential buyers. Young families like the idea of having room to grow. Older couples sometimes want enough space for family to stay when they visit.
Allows Your Home to Look More Visually Pleasing to Buyers
When searching for a new home, a clean and organized house will interest more buyers than a residence that is not nicely kept. The same rule applies for closet spaces. No one wants to look at a space crammed so full that clothes become wrinkled and need ironing before wearing them.
Having organized closets will also allow potential buyers to see how much space is available. Immediately they can see if the storage area will meet their needs. You never know as some people prefer a small reach-in closet versus a spacious walk-in closet. Custom Closets of Houston further explains the Benefits and Drawbacks of Both Walk-In Closets Vs. Reach-In Closets. Either way, tidy closets makes a home feel more move-in ready. A move-in ready home is more valuable in the minds of buyers than one that needs extra work.
At the same time, buyers can see the pride & value that you take in your home. It plants the idea that if you are willing to take care of the smaller details like a closet space with such respect, the bigger, more important things are also well maintained. A well-maintained home will have a higher value than a house of the same size in need of maintenance and care.
Gives You a Sense of More Space
Even though you are not adding square footage to your home, an organized closet can make any room feel bigger. While a customized closet doesn’t give you more square footage, it does play a psychological role in the minds of home buyer.
Potential buyers see a home with spacious, well-organized closets, and they believe they are getting more space. They are willing to pay more for a home that feels spacious than a home that feels cramped.
An organizational system of hooks, drawers, and special racks can help utilize every square inch of space. It may sound like cluttering the room instead of letting it be open, but by making the area more productive, it actually makes it look more extensive and therefore worth more to the buyers
Adds a Sense of Luxury
Many homebuyers see a custom closet as a luxury. They are surprised to know that they can find homes in their budget where the current owners have put the money into creating a space that is organized and beautiful.
A customized wardrobe can cost a few hundred to several thousand dollars, depending on the features and square footage. While you may opt for a budget-friendly upgrade, having these additions give off a sense of luxury to your space that can’t be found in a home with traditional reach-in rods and shelves.
Conclusion
A custom closet can add value to your home as well as space and a sense of organization. It can also appeal to potential buyers as it allows them to see a tidy house with room for all of their belongings, while also including a sense of luxury.