The key to getting top dollar at closing may not be as hidden as you think it is. Most home buyers want a timeless layout that allows them to grow. So, it’s your job to present a home that’s worth living in for the next 30 years. Simple, right?
Wrong. Pleasing everyone is impossible and trying is a mistake. You have to consider the pros and cons of your floor plan first. Then, figure out a way to attract modern buyers before you’re ready to sell. It’s a cat and mouse game with your wallet in the middle. So, will an open concept design help or not?
How an Open Floor Plan Can Lower Your Asking Price
Real estate experts agree that an open layout can increase the resale value of your home. In fact, some houses sell for as much as 15% more than sectional floor plans. And if the work is good, homeowners can make an even bigger profit. So, then how are open floor plans a bad idea?
Although most people enjoy home designs without barriers, many appreciate versatility, privacy, and coziness. However, an open concept can compromise all three of those things. Here’s how:
- Open floor plans are harder to heat and cool, causing higher energy bills and warm and cold air pockets.
- Noises travel much faster in a home with fewer walls. So, it may be challenging to find some peace and quiet.
- More rooms mean more privacy and individuality. That’s an incredibly crucial feature in a home with several residents.
With an open layout, your interior design muscles have to flex. But your furniture, decorations, and arrangement must also suit the flow of the space. And since there are fewer limitations, some people become overwhelmed.
TIP: Show your home with clever furniture arrangements that help separate the rooms.
3 Ways an Open Concept Increases Your Resale Value
Savvy homeowners know that more people enjoy an open concept than those who don’t. Studies even show that 70% of potential home buyers request open layouts. Their reasons are as diverse as they are, but one thing is sure. Free space designs are always more sellable.
Did you know that houses with an open layout tend to sell for more money than homes with multiple rooms? According to recent surveys, your property value appreciates by as much as 7.4% when you choose an open floor plan. That’s why paying for a professional remodel is a sound financial investment. But here are three more reasons just in case you need more convincing:
#1. Practical Use of Square Footage
Not all home layouts are as efficient as they could be. And hindsight is 20/20. However, ripping out walls and reconfiguring floor plans isn’t easy. So, homebuyers generally appreciate sellers who have carved out those nooks and crannies already. They get bigger living spaces, and you get bigger payouts.
FACT: According to Investopedia, the Return of Investment (ROI) on a newly remodeled home with an open concept is about 70%.
#2. Flexibility with Design and Décor
Motivated buyers want to make the most of their investment and live in a home that suits their lifestyle. So, open floor plans let homeowners get creative with their furniture and decorations. When there are fewer walls, people can reconfigure areas for different purposes within minutes.
FACT: Include a fireplace, hardwood floors, or ceiling beams to increase your asking price even more.
#3. Greater Accessibility for Everyday Life
We never know what life might bring. And as loved ones get older, we must consider their comfort. Open concepts consist of fewer hallways, corners, and tight spots. So, people in wheelchairs or with mobility restrictions can enjoy the space just the same. Wide-open layouts are sometimes a language of love.
FACT: The National Institutes for Health (NCBI) agrees that accessible homes foster greater dependence and a higher quality of life for people with functional impairments.
Keep in mind that creating an open floor plan might require additional steps. That’s because some walls support the weight of your roof. Removing crucial walls could damage your structure. So, experienced remodelers will install heavy beams to hold the load. But that extra step could cost you more money.
Don’t fret about the cost yet. Get a comprehensive quote first, and then discuss your options with an interior designer. You may have more affordable options than you realize.
Remodel Your Home For the Buyer with Cornerstone
You have all that space to explore and a handful of motivated buyers at your door. It’s your square footage. Make the most of it. And let Cornerstone Remodeling lead the way. We offer a no-hassle remote quoting system and financing for those who qualify.
Our team can help you decide whether an open floor plan works or not. Then, we revamp your design and execute the project when you’re ready. So, contact Cornerstone today, and get paid more for your home tomorrow.