Pet-Friendly Housing: Features That Add $20K to Your Home’s Value
Are you a pet owner looking to sell your home? Do you think your furry friend is holding you back from getting top dollar for your property? Think again. In recent years, there has been a significant increase in demand for pet-friendly housing, and it’s not just among pet owners. Non-pet owners are also considering factors such as pet-friendly features when purchasing a home. In fact, having pet-friendly features in your home can add up to $20,000 to its value. So, let’s dive into the details of how making your home pet-friendly can increase its overall value.
Why Pet-friendly Housing is in High Demand
The Rise in Pet Ownership
According to the American Pet Products Association, sixty-seven percent of US households have a pet, which accounts for about 84.9 million homes. This is a significant increase from previous years, and the trend is expected to continue. With the rise in pet ownership, there is also an increase in demand for homes that cater to the needs of pets. As more people consider their pets as essential family members, they’re looking for homes that can accommodate their furry friends.
Pets as Companions in the Post-pandemic World
The ongoing pandemic has brought about many lifestyle changes, one of which is the increase in pet ownership. With more people working from home and spending more time indoors, having a pet has become an essential source of companionship and comfort. As a result, pet-friendly features in homes have become a top priority for homebuyers, even for those who do not own a pet.
The Role of Pet-friendly Features in Home Valuation
When it comes to selling a home, it’s essential to appeal to as many potential buyers as possible. The more desirable your home is, the higher its value will be. This is where pet-friendly features come into play. By having pet-friendly features in your home, you are not only appealing to pet owners but also to non-pet owners who may see these features as potential amenities for future pets. This increases the overall value of your home.
Examples of Pet-friendly Features that Add Value
1. Dedicated Pet Areas – Creating a space specifically designed for pets, such as a built-in doghouse or a designated cat room, can attract potential buyers who are pet owners. These features show that you have put thought and effort into catering to the needs of pets, making it a desirable home for them.
2. Durable Flooring – Pets can be tough on floors, and many pet owners struggle to find homes with flooring that can withstand the wear and tear of their furry friends. Investing in durable and pet-friendly flooring, such as tile or laminate, can make your home stand out to potential buyers.
3. Fenced Yard – A fenced yard is a dream come true for pet owners. Pets can enjoy their outdoor time without the risk of running away or getting into trouble. A fenced yard is also a desirable feature for non-pet owners, as it can serve as a great space for children or entertaining guests.
4. Pet-friendly Landscaping – Landscaping that is pet-friendly, such as artificial turf or designated potty areas, can be a significant selling point for pet owners. It shows that you have considered the needs of pets in your home design and adds value to your property.
The Return on Investment for Pet-friendly Features
Adding pet-friendly features to your home may require a bit of investment, but the return on investment can be significant. As mentioned earlier, these features can add up to $20,000 to your home’s value. Moreover, it can also make your home stand out in a competitive market, potentially leading to faster and more lucrative offers from interested buyers.
The Impact on Property Resale
In addition to increasing the overall value of your home, pet-friendly features can also make your property more attractive to potential buyers when it comes time to sell. As the demand for pet-friendly housing continues to rise, having these features in your home can make it a sought-after property in the real estate market.
The Cost of Not Having Pet-friendly Features
On the flip side, not having pet-friendly features in your home can significantly decrease its value and make it less appealing to a large pool of potential buyers. This can result in longer listing times and potentially lower offers. In the current market, where pet-friendly housing is in high demand, not catering to these needs can be a costly mistake for homeowners.
Conclusion
In summary, having pet-friendly features in your home can add $20,000 to its value. With the rise in pet ownership and their role as companions in the post-pandemic world, these features have become essential for homebuyers. By investing in pet-friendly features, you not only increase the overall value of your home but also make it more appealing and desirable to potential buyers.
So, if you’re a pet owner looking to sell your home, consider making it pet-friendly first. And if you’re a homeowner planning to sell in the future, don’t overlook the impact of pet-friendly features on your property’s value. With the right pet-friendly amenities, your home can attract a wider pool of potential buyers and ultimately increase its overall value.
