Best real estate agents near Capitan, NM

You should aim to have three or more bedrooms for the best resale value, and having four bedrooms is considered the gold standard. Having just two bedrooms is a functional obsolescence for larger family sizes, so a minimum of three bedrooms is ideal. Adding square footage from additional bedrooms will almost always be worthwhile, though, and can easily provide an ROI of 70%.

A fireplace can increase a home's value by as much as 12%, with some reports indicating that homes with fireplaces list for around 13% more than the median sale price. Fireplaces are both functional and aesthetically pleasing, adding a charm that many homebuyers find desirable. The actual return on investment depends on the fireplace's size, type, and material.

However, a fireplace can detract from a property's value if it is unusable, not up to code, or in need of immediate repairs. The type of fireplace also matters; custom electric fireplaces and inserts can add value, while freestanding units that can be removed have less impact.

Yes, adding a composite deck, such as one made from Trex, can significantly increase your home's value. It is a valuable home renovation for recouping costs, with some estimates for return on investment (ROI) ranging between 60% and 70%. More recently, Remodeling's 2024 Cost vs. Value Report suggests a deck addition has an ROI of 82.9%, with an average resale value of nearly $14,600. A new deck makes your yard more functional, enhances the landscape's aesthetic, and can entice prospective buyers. The investment may have a higher return if the deck adds usable square footage to the property.

While it's smart to save up about 25 percent of the price of a home—to cover the down payment and closing costs—many loans require between less than 3% down to qualify. In either case, you'll need between 3 and 6 percent for the closing and moving costs as well as a strong financial history for mortgage approval.