There are two ways to increase your home’s value before selling it through your real estate agent.
One is to build wealth through home equity and home appreciation. This is often referred to as a time where the property value increases on its own. Unfortunately, home appreciation is not always guaranteed.
The other way is to add home value by making the appropriate upgrade decisions.
It’s as simple as that.
Home appreciation always changes. The amount your specific home will receive depends on how many buyers are currently browsing the markets, how many homes are currently available, and so on.
Depending on when you sell your home is also a key factor. Is the market currently booming? Homeowners don’t always pick the right times to sell their homes.
When home appreciation fails us, we lean on increasing our home value on our own time through our own measures. If you happen to be in that boat right about now, check out some of our suggestions to boost that home value today.
1) Make your home look attractive
Home renovations usually cost more than the resale value, that’s a fact. So, don’t spend an arm and a leg to get your house looking pretty.
Remember that giving your home more beauty will only increase your home’s value by $30K max. If you don’t think that the renovation is worth the money you’ll get back, just leave the room the way it is.
If you do think you can make a particular room a selling point when buyers come to look, go ahead and get the room remodeled. The focus areas of remodeling are the living room, kitchen, master bedroom, and dining room.
Home curb appeal projects will also give you good results. For example, a new garage door or an extension on a deck will point you in the right direction.
2) Space is key
More space equals more money. If you have the amount of space the buyers are looking for, you’re golden.
On the other hand, if you don’t have the amount of space the buyers are looking for, it’s time to make some changes.
The easiest way to free up space is to knock down some walls. Open living room and dining room areas are becoming more popular by the day; most people don’t want the separation in rooms because the spaces look smaller, so if you can, get rid of the wall.
Adding a bathroom or extra storage closet in an area that’s not used often in the house is always a good idea, too.
3) Low-maintenance homes are a hit
No one wants to purchase a house that has a lot of maintenance work needed. This means, replacing things like the furnace, water heater, and roof might be a good start before putting the house up for sale - especially if those pose as areas of concern for the point of sale.
While you’re at it, think about improvements that will make the home easier to clean and potentially navigate. For instance, carpets are becoming less and less popular; replace them with hardwood floors to make it an easier living situation for future homeowners.
4) Efficiency is a big selling point
Think of things like double paneled windows, LED lights, and energy-efficient appliances. Anything that has an energy-efficient aspect to it will save the homeowner money in the long run, which brings buyers to the home for viewing almost immediately.
You can look into installing solar panels, too, but be warned that it is a huge expense and you may not get your money's worth in the long run.
5) Smart devices may sway a buyer
Depending on the person, smart devices may just close the house sale. Specifics may include fire detectors, carbon monoxide detectors, security cameras, locks, lighting, and thermostats.
Improved technologies for the television, radio, home theater, and gaming systems may draw people in, too.
These particulars may not be the best area to focus on if you’re trying to increase your home value, but they will definitely bring a unique appeal to the table.