Increase Your Home Value
Working with an experienced real estate agent can be advantageous if you are considering selling your home. An agent will be able to provide you with certain information, such as a Comparative Market Analysis, that will help determine:
The price of homes in the area that have been sold.
The price of homes in the area that are currently for sale.
The price of homes in the area that are under contract.
The price of homes that were taken off the market.
The price of listings that have expired.
Knowing this information can be beneficial, especially if your home is comparable based on square footage or location. While a Comparative Market Analysis will provide a foundation in which to work from, there are other solutions that will boost your home’s value:
Creating New Spaces
Transforming new spaces within the home for a different and more spacious layout can work wonders. Knocking out a wall to create an open floor plan will immediately increase the value of your home and the number of individuals attracted to it.
One of the most valued investments you can make is to professionally landscape your property. The return on your small investment can reap rewards that are four times what you spent. Even if the inside of your home is beautiful, good landscaping promotes curb appeal, which translates into home value and higher pricing.
Maintain the Basics
Insulation, plumbing, outside gutters, septic systems, windows and other items that could be problematic for home buyers should be first on the improvements list. Being able to produce documentation that all of these things have been maintained or replaced during the consideration of a home weighs heavily on how the value is perceived. This includes any cracks or broken steps, issues with any doors and when applicable, sprinkler systems. Getting a home inspection can help identify any underlying problems so they can be addressed.
Efficient appliances and other fixtures quickly upgrade the value of a home. Kitchen, lighting and plumbing devices that conserve energy and save water are investments that draw home buyers and quickly raise the value of a home.
A bathroom does not have to undergo a complete remodel to increase the home’s value. Updating the fixtures and mirrors, changing the color or cleaning the grout, cleaning and replacing the caulking and removing any rust can make a huge difference.
Exposing the windows to let natural light in, painting the rooms in a neutral color, and installing light fixtures that promote natural light scenarios is a quick way to improve the value of your home. Airy and bright rooms are appealing and provide comfort.
These are things that should be addressed before putting your home on the market. Today’s homebuyers are equipped with information about your home before they see it in person. Make sure they have a reason to want to add your home to the viewing list.