6 Ways to Increase Your Home Value
Whether you are thinking about selling your house soon or are looking further down the road, you should always keep its resale value in mind. Ultimately, home value is determined by many different factors (timing, market conditions, location, square footage, etc.). You can never fully predict exactly what you’ll get out of your home sale until it is actually sold.
The good news is there are some steps you can take now to increase the future value of your property. Here are some of our best upgrade and repair recommendations:
1. Make it Look Nice
One of the best things you can do to boost home value is to improve the property’s “curb appeal.” Keep the house clean and the exterior looking nice. That may include gardening, a fresh coat of paint, washing the windows, taking care of the lawn and getting rid of junk. The same goes for the interior. Take good care of everything and keep it clean throughout. This will make your job easier when it comes time to sell.
2. Upgrade the Kitchen and Bathrooms
Most rooms in the house (living rooms, bedrooms, etc.) are pretty much open spaces once you remove the furniture. The buyer can do whatever they want with those areas. However, the bathrooms and kitchen are where design touches and functional features really make a difference in the resale value potential. Focus on these rooms as much as you can.
3. Improve Energy Efficiency
Today’s buyers are looking for energy-efficient homes. We’re talking about better windows, doors, insulation and solar panels, among other things. Energy-efficient appliances and HVAC systems will also be appealing. These upgrades aren’t going to be cheap, but you have to think of them as an investment in your home because they will increase its value in the long run.
4. Enhance the Technology
Another thing today’s buyers seek is homes with more integrated technology. Smart appliances, better wiring for entertainment systems and home office electronics, smart thermostats, home security, etc.—these are technological upgrades you can make. The tricky part of this idea is that tech gets dated pretty quickly. A cool feature now may be worthless in 10 years, so be careful how and where you spend your money.
5. Additions and Remodeling
If you have the time and money to invest in your property, you may consider adding on rooms or remodeling the floor plan to be more appealing to future buyers. Of course, you’ll be able enjoy the extra space while you live there, too!
6. Make Repairs
One of the best tips we can offer is to keep the house in good shape as long as you own it. A property that looks and feels run down will just not fetch as much during a home sale. Fix little problems before they turn into big ones. Spend some time making repairs and cleaning up before you put the house on the market. It will be worth it.
These are tips that will help you increase your home value. The truth is, not everyone is in a position to invest this kind of time and money. If you are in a situation where you need to sell soon or get out from under the financial burden of your house, you will want to look into other alternatives for selling your property. A cash sale to a real estate investor can be completed quickly and you generally won’t have to worry about making repairs, cleaning, staging or upgrading your home. They will buy it in as-is condition. You won’t get maximum resale value, but the other advantages may benefit you depending on your homeownership situation.
If you are planning (or needing) to sell your house in the near future, contact PropertyLark today. We can help you explore all of your home selling options, including a cash deal if it makes sense for you. Just fill out the contact form on any page of our website to get started!