Real Estate Market: 10 Easy Ways to Increase Home Value
If you’ve decided that it’s time to put your current home on the market, you should first do some research to see what is popular in the area, what the buyers are looking for, and what the comps are like. This will give you an opportunity to update your property and increase your asking price. In case you’re not sure where to start, keep on reading for ten easy ways how you can boost your home’s value.
Doing a thorough cleaning and decluttering
The first thing you can do to increase the value of your home does not require you to spend any money; what is more, you might even earn some. Regardless of whether you plan on selling it furnished or not, no one likes to see a cluttered space as they can’t imagine themselves living there. So, get decluttering. Everything that you don’t plan on moving to your new home should be sold or donated if it’s in solid condition. Things that are damaged should be tossed out. Once the property is free of clutter, you need to give it a thorough cleaning. From cleaning out the gutters to vacuuming every nook and cranny, there is a lot that needs to be tidied up. If you don’t have the time, you can also hire professional cleaning services as they know which areas to focus on.
Giving the walls a fresh coat of paint
Another project that is very cost-effective but makes a big difference is giving the walls a fresh coat of paint. No matter when you’ve painted the walls last, this will make everything look clean and tidy. However, when doing this, keep in mind that your goal is to make the property you are selling as neutral as possible. That means that you should tone down any extravagant walls and paint them in white, off-white, beige, gray, or some similar shade.
Installing new flooring
If you have that kind of budget, you can look into installing new flooring. According to research, 54% of buyers are willing to pay more for hardwood floors. So, if you have carpets all over the house, you should see whether potential buyers would prefer other types of flooring and boost your price in that way. While carpets were desirable in the past because of their energy-conserving properties, hardwood floors are much easier to clean which puts them ahead nowadays. For a more affordable upgrade, you can look into laminate floors.
Replacing the front door
While this can seem like a project that is a bit more demanding, replacing the front door can actually be done in a day or two. In addition to making the entrance seem more grand and welcoming, a new front door can also provide the buyers with a sense of security and privacy. Look for sturdy models that will not chip or rot over time. Furthermore, you can also consider updating the windows as that can ensure there are no drafts in the house. Of course, you should make sure that they match the overall design of the property.
Get a new garage door
In case your property has a garage, you can also boost its appeal in order to increase the asking price. While you can transform the room in no time by painting the floor and applying a finish that can protect it against fluid stains, changing the garage door comes with a bigger return on investment. As it can be difficult to do this on your own, you should hire a professional that can do this over a day.
Updating your curb appeal
While changing your front and garage door is a great first step toward upgrading your curb appeal, there are many other things you can do. For example, giving the façade a fresh coat of paint or pressure washing the exterior can restore your home to its former glory. Then, you can swap out the house numbers and mailbox. Something you should dedicate more time to is landscaping. Many people don’t like a yard that comes with too many obligations, which is why you shouldn’t plant too many flowers and plants in hope that that will attract potential buyers. Just make sure the lawn is properly maintained by installing a quality hose reel and watering it a few times a week as well as by mowing it regularly so that it doesn’t look neglected. Finally, ensure there are no cracks in the driveway and pathways around the house. If there is damage, see whether they can be fixed or if you need to replace them.
Adding an outdoor entertainment area
Depending on where your property is located, you might benefit a lot from adding an outdoor living area that can be used for relaxing, dining, and entertaining. For instance, if your home is in a place that has warm weather all year round, adding a pergola or a patio will not set you back too much and can increase the value by a lot. Plus, you can do it on your own. Other than an outdoor dining set and some comfy furniture like couches and armchairs, you can also introduce a fire pit or a water feature that will serve as a focal point of the backyard. Proper lighting and some décor items like throw pillows and a few potted succulents can also up the wow factor of the space.
Updating the kitchen
Updating the kitchen can be a very expensive endeavor if it’s in bad shape. However, if everything is in working order, a few cosmetic touch-ups might be all you need to boost the asking price. For example, you can do some cabinet repainting and make the kitchen feel brand new. Then, a fresh coat of paint for the walls and a new backsplash are simple updates that work wonders among prospective buyers. Swapping out all hardware including the taps, adding an island, and changing the countertops are other projects that you can take into consideration as they don’t take a lot of time. What is more, bear in mind that minor updates produce a better ROI than major renovations.
Revamping the bathrooms
Just like with the kitchen, minor upgrades to the bathroom can result in a huge ROI. So, even if you don’t have a huge budget, you can still make a world of difference in the bathrooms. Instead of retiling the entire room, consider simply changing the hardware like faucets, towel racks, and toilet paper holders. Then, you can update the lighting fixtures and add some more storage if possible. Add fluffy towels and countertop accessories to tie everything together.
Investing in energy efficiency
Finally, something that many buyers appreciate is energy efficiency. To improve your home in this aspect, you can swap out all traditional light bulbs with LED ones, look into improving your home’s insulation, and install a programmable thermostat. Getting an audit to see which areas are a bit problematic can also be helpful.
As you can see, there are many easy ways how you can increase your home’s value before you decide to put it on the market. From giving it a fresh coat of paint to having a pristine lawn all the way to working on energy efficiency, these projects will not let you down.