Are you planning to sell your house? Do you know what you need to do before selling? Most of the time, the location or popularity of the market is a bit obvious when it comes to setting the price on your home. However, there are plenty of other things that play a significant role in the final price and success of the selling.
Some smart improvements are going to increase the value of the property. However, you should take it with a grain of salt. No house improvement is going to double the value, especially if the neighborhood isn’t that popular. On the other hand, there is a possibility that once you have done the upgrades, you’re not going to want to sell anymore.
Let’s take a look at the things you can do for increasing the value of your house and make it more appealing for potential customers:
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1. Make it more attractive
Curb appeal (how your house looks like from the street) is the very first possibility to make an excellent impression on potential buyers. A house’s exterior has to make a potential customer interested in entering your home, after seeing it from the outside.
Therefore, the landscaping has to be well-maintained. If the yard looks a bit dull, you should repaint the front door and plant some colorful flowers to make it more interesting.
Once you’ve done the exterior, you should pay attention to the kitchen and the bathroom. They are essential for the overall value of your property. Old kitchen and bathroom are going to cut down your chances for selling the house faster.
Don’t go over your head and install the heated towel racks or the marble floors. Minor remodeling of your kitchen earns back 80% of its cost in added value. This is opposed to 53% for an upscale kitchen remodel with some custom cabinets, stone countertops, and commercial-grade appliances.
The same goes for the bathrooms. New flooring and some new fixtures give back 70% of the investment, whereas a bathroom remodels (designer fixtures, heated flooring, custom cabinets) only gives back 56% of the investment.
Some new and exciting pieces of furniture can make a great first impression and change the feel in your living room completely. If you look online, you’re going to find a large and stylish selection of chairs, lighting and various items of furniture that help any room stand out. More often than not, the perfect chair or an elegant dining table can make a buyer more interested in buying your house.
According to Iron works in Los Angeles, an ornamental staircase railing is highly visible when a potential buyer visits your house, and has direct impact on its added value.
As you can see, you don’t need to go over the top with the remodeling. A couple of adjustments and wise investments are going to be enough.
2. Make it more effective
Installing some energy conservation functions can play a big part in your home’s value, but it depends on the country you’re in. energy-efficient mortgages (EEMs) let the borrowers take on more debt for covering the energy-efficient upgrades and the purchase of the home as well. EEMs may also provide lower mortgage rates for increasing purchasing power.
You should install LED lighting, improve the attic insulation, and install some double-paned windows as well. Use efficient appliances for increasing your house’s value and attract energy-conscious buyers.
Do you like to think big? Put some solar panels on the roof. Solar panels can increase the perceived property value. However, as the solar panels are a substantial financial and structural project, you should only do it if you’re hoping to increase the value over the long term.
Have an appointment with a certified energy auditor to see if your house is wasting energy. You should also see what kind of upgrades are going to cost you more money.
3. Make it low-maintenance
It’s common for homebuyers to worry about how much maintenance the new home is going to need. You should replace some of the major components before putting your house on the market. New roof, water heater, or new furnace may calm a potential buyer and help you get a better deal for the home.
Any improvement that is going to make your house easier to take care of is going to increase its value. Replace the carpets that stain easily and install hardwood floors instead. You can also replace the wood siding (that requires a lot of maintenance) with vinyl siding. All the small improvements count in the end.
4. Make it smarter
Having a smart house is quite the rage right now, and there are many safety-enhancing gadgets that technologies buyers are looking for their new home. The fire detectors, security cameras, the thermostats, lighting, and door locks- these are all smart gadgets that technology buyers appreciate.
Even if the smart gadgets aren’t going to increase your house’s value, they’re going to make it more appealing, for sure. Anyone that likes gadgets is going to be willing to pay for them.
Most of the time, you’re going to be able to install the devices on your own, and it’s cheaper than replacing the roof or renovating the bathroom.
5. Make it bigger
Square footage has an important impact on house value. Price per square foot is one way to help the homebuyers compare the homes that look similar in terms of upgrades or style.
A bigger home implies a higher value, and any buyer is going to appreciate the added space. You can add a room to make the house look bigger, or you can create more living space by building a deck or finishing the basement.
6. Price it right
No matter the improvements or the new acquisitions, pricing your home right is a lot more critical. You should talk to a local real estate agent and even go online to see the prices of comparable homes in your area.
It’s not always the lowest price that sells a home- especially if you’ve made renovations or improvements. Nevertheless, it’s crucial that the price isn’t out of line with other comparable homes in the market. Walk-in your buyer’s shoes for a bit. What’s the fair amount for them?
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