INVESTING IN YOUR CLOSET
Did you know closets are often deal breakers for buyers purchasing a home? Buyers will turn down their dream home if it doesn’t have a closet/closets that meets their needs, while a well-designed closet can persuade buyers to pull the trigger on a home that might not be what they were looking for. Today’s homebuyers want more than a master bedroom; they want a spacious suite where they can retreat. And, with that comes a well-executed walk-in closet.
A 2019 Kiplinger’s story says that walk-in closets are “quickly gaining in popularity among first- and second-time homebuyers, according to a 2018 NAHB survey that focused on new buyers. A walk-in closet in the master bedroom ranked among their top five features.” Also, according to Maria Zamora, a realtor associate with Realty Consultants Network quoted in the article: “Homes without a walk-in-closet in the master bedroom are more of a challenge to sell and will attract less buyers.” What it really comes down to is this - if a potential buyer is spending money on the items in their closet, they want to know those pieces will have a home with the same level of quality, where these pieces are protected and kept looking their best!
While many of the closets I design are customized to the individual, I’m always thinking about resale value, too. Closets can have a significant impact on sellers scoring top dollar. To explore this, I spoke with a few friends who have a pulse on LA real estate about how important closets are in today’s housing market:
How do closets create added value in a home?
It seems like there is never enough storage space in homes. By maximizing as much space as possible, especially any customization, is sure to add value to any home. -- Todd Kraines (Compass) | @tkraines
It is about selling a lifestyle in an Instagram world. With designer-done luxury closets…You are definitely selling a lifestyle and everything that goes along with it. These new luxury closets come stocked with: TVs, home office, jewelry vaults, vanities, cosmetic refrigerators, coffee makers, jewelry drawers, living rooms, offices and of course dressing rooms. -- Rochelle Maize (Executive Director - Luxury Estates at Nourmand & Associates) | @rochellemaizeluxuryestates
How much more interest do homes with quality closets generate?
Definitely more. It would show to any prospective buyer that a well thought out space of their belongings will fit seamlessly. The look and feel of a non-cluttered environment gives a sense of pride of ownership. -- Todd Kraines (Compass) | @tkraines
There are no statistics on this but I would say approximately 25%. Keep in mind it's usually the woman that makes the decision. Her top 2 rooms are always the master closet and the kitchen! -- Rochelle Maize (Executive Director - Luxury Estates at Nourmand & Associates) | @rochellemaizeluxuryestates
Whether you have a custom closet or one that's more conventional, getting it in tiptop shape for a home sale is essential. Here are a few easy ways to upgrade your closet if you’re gearing up to list your home:
De-clutter -- Nothing says “closet of my dreams” like an organized and clean space. Get rid of dry cleaning bags, color coordinate your wardrobe and put your best pieces on display. Show homebuyers they’ll have plenty of space.
Touch-up -- Whether it’s a fresh coat of paint or updated hardware, make your space feel fresh and welcoming.
Edit -- Some realtors recommend removing all personal items from a home when trying to sell it (clothes included) and others suggest leaving the wardrobe in tact. If you go with the latter, be sure to edit so the closet doesn’t seem overstuffed or disorganized. You clothes should have some breathing room.
Use Uniform Hangers -- One of the most distracting elements in a closet is mismatched hangers. I recommend ditching the dry cleaning and plastic hangers. Opt for slimline velvet hangers, which are a relatively economical investment that go a long way.