How to Increase Your Home Value Before You Sell
One of the major advantages of home ownership is that the value of your property is almost guaranteed to climb up year by year. That’s great if you’re planning to sell or build equity, but there are also other ways to increase the value of your home besides waiting.
A few smart and strategic fixes or upgrades can not only ensure that you get a return on your investment, but that they add extra value to your home ahead of the big sale. Let’s take a look at the best ways to grow the value of your property.
Add square footage
The easiest way to add value to your home is also the most obvious: make it bigger. By adding square footage, you are adding net value to your property. However, an extension is not only a big undertaking, it’s also an expensive one. It’s an investment that pays off, but it requires a significant upfront cost.
The most popular extensions are to make the kitchen larger, or to add to the garage, especially if it’s currently a single-car one. Spacious kitchens for entertaining and two-car garages are features many buyers look for, so not only are you adding value, you’re also adding desirability.
Remodel the kitchen or bathroom
They say that the rooms that sell the house are the bathroom and the kitchen, so if you can only focus on one thing, make it one of these. Or both! Even if you are not making the kitchen bigger, a general upgrade can be worth a lot.
Walking in to view a home and seeing an outdated, 1980s-style kitchen usually leaves a bad impression on buyers. Add a quartz countertop and some stainless-steel appliances and you’ll be surprised at how much better this space looks.
When it comes to bathrooms, most buyers nowadays are looking for double sink vanities and walk-in showers, so if you can make that happen, you are guaranteed to increase its value.
Cut the costs
Offering money-saving features is going to put your home in a very good light, so investing in some of these appliances or devices is well worth the money. It can go from simple changes like lightbulbs or a cheap internet package to bigger commitments, such as smart thermostats or AC units, which can save hundreds of dollars a year in the long-run.
Solar panels and energy-saving appliances are also options that help save over the years, so buyers are more than willing to pay a fair price for the convenience.
Replace the roof
But before you can move on to remodels, you should take care of any major fixes, starting with the roof. Fixing or replacing the roof is a major expense, not to mention a big headache. Any buyer will try to knock the price down because of it.
Take the initiative and replace the roof yourself. Not only will that give it a nicer look, it’s also safer, it makes a better impression, and buyers are happy to pay more for a home that is guaranteed to not have a leaky roof.
Make it smart
The latest trend in home technology indicates that the future is smart. Buyers are looking for smart home tech more and more, so including that’s a great move. Most young buyers are interested in tech like smart doorbells, smart cameras, and automatic door locks with keypad entries. There is a very big focus on safety.
However, other devices like smart speakers are also popular, and even deal breakers for a lot of buyers. Most importantly – they add value, as 65% of people are willing to pay extra to enjoy these features.
Work on curb appeal
The value of your home can drop before the buyer or the appraiser even steps on your front lawn, if the property doesn’t look good. Curb appeal is not only crucial to attracting buyers, but it can also do wonders for its value.
Luckily, this is a project that’s not difficult to complete. The biggest transformation is to repaint the house, or replace the siding. Siding tends to retain its value wonderfully, and it creates a great first impression. A new front door is always a good idea, because it can change the entire look of the front of your home, and it gives it a fresh vibe.
From here, all you need to do is tend to the yard. Trim the overgrown shrubbery, make sure your trees aren’t covering up the great work you did on the house, and mow the lawn. It will make the house look like a million dollars.
When you’re preparing to sell your home, letting it go as it is can be an option, but it’s even better if you can invest a little time and money to increase its value. From small upgrades like a fresh coat of paint to bigger projects like a kitchen remodel, any value you can add to your property is going to pay off once you put it on the market.
Emily Miller/ BroadBandSearch.net
Stephanie Knights, Realtor® ABR®, SFR®
Knights Home Group | Coldwell Banker