Increase the Value of Your Home Before Selling It
Are you thinking about selling your home? Then there are a few things you should know. But first, you should know what your ultimate goal is. In the sale of your home, just like any other sale, your goal is coming out of the process with the maximum profit. That means getting as much money for your house as you can but with the lowest investment. And yes, it’s a really tough balancing act. On the one hand, you need to invest so you can increase the value of your home and get a better price – but on the other, you want to spend as little money as possible. Don’t worry though – that’s precisely what home improvement pros are here to tell you about.
Where to Start
Many people realize that they need to increase the value of their home before they even think of selling it. Really, it’s only natural – the higher value of your home is the lynchpin of success in the increasingly competitive world of real estate. And sure, higher home value is crucial – but it’s also crucial to do it correctly. Trust us – you don’t want to burn a hole through your budget while remodeling; you could even end up losing money after the sale. That’s why it’s very important to learn where to begin.
Follow Current Real Estate Trends
When looking for real estate advice, it’s important to know who to ask. The last thing you want is to blow your money on a bad investment. For example – many people will tell you to spend the majority of your money on house painting right away. But true experts know that this is a badly outdated mode of thinking.
In reality, better education and the existence of the Internet have changed every single market in the world – and real estate is no different. So, what does that mean for you? Well, that means that all home sellers are doing business with a consumer population that is much better informed than the buyers of yesterday. Simply put – these days, buyers know just what they need. And in line with that, they put much greater stock in practical, useful home improvements than in exterior renovations. Bearing that in mind, where exactly should you spend your resources?
Increase Energy Efficiency
If we’re talking about practical improvements to your home, it’s important to find something that’s meaningful but also not too expensive. In light of this, we recommend focusing a large portion of your budget on increasing the energy efficiency of your house. Current market trends have shown that this is a sound investment. And remember – this doesn’t mean you should invest no money in other home improvements. But this will increase the value of your home a lot more. And sure, it may look a bit more expensive. But it’s not like you’re throwing money out the window. Remember – the return on an investment in energy efficiency is much greater market value.
If you’re handling a smaller budget or you want to leave some money for other things, you don’t have to do a job on the entire house. You can simply start with insulation in your attic, and see where you go from there.
Don’t Overlook the Heating System
Also, insulation isn’t the only thing you can work on. Besides that, consider how old your home is and how well was it maintained? If you’re dealing with a particularly old house, you could probably upgrade the in-house HVAC system. In the current real estate climate, these are the kind of practical upgrades that home buyers really tend to value.
Think About Lifestyle
Once you’ve completed the practical upgrades to your home, you can see what remains of your budget for further improvements. Then, you can think about increasing the visual appeal of your house. Once more, you will still need to balance your finances. If you’re being realistic, you’ll realize you don’t have the money to improve everything you’d like. So, the question is – what to work on next?
Spruce Up the Interior
If you’ve still got some money left over, you may want to think about how you can increase the value of your home by working on the interior. And even more importantly, how will you choose your priorities when picking which parts of the interior to fix up?
First, you could spend the majority of your interior budget on the kitchen area. And this is no arbitrary decision either. Actually, the kitchen is a good choice because it isn’t a very costly improvement. If you don’t want to spend too much money, you don’t really have to buy all new appliances. You should focus your money and energy on the cabinets and other surfaces, breathing in vibrant colors and strong textures. Also, a small tip – make sure you replace the doorknobs and cabinet handles. Those are details but people tend to notice those.
While we’re on the subject of the interior, think about what you will do with all of your remaining things once you start renovating and selling your home. This will also be an expense, so you don’t want to be caught off guard with this. You may want to find some storage and keep your valuables in a safe space while renovating.
Fix Up the Exterior
Finally, let’s talk about what to do with any money that remains. Today’s business world is comprised of market trends that rapidly change. But in real estate and housing, there’s one constant that seems everlasting – the value of a home’s curb appeal.
The first impression is important in every social interaction – and real estate is no different. Except in this case, it’s your home that needs to make a good impression. That’s why you should remember something. Namely, if the first thing a potential buyer sees is a decaying exterior, the chances of them buying the house decrease rapidly. That’s why you want to invest some of your budget into basic landscaping, at least, if you want to increase the value of your home.