When selling a home, you will want to make as much money off of the sale as possible. Making improvements on your house and property will not only generate more interest in your home when you sell, but help ensure that you get the best offers.
Here are 10 ways you can invest in your home to capitalize on its value:
When you are ready to sell, make sure that your home is painted in un-distracting, neutral colors. Paint and décor are very personal, and future home-owners may not like the bright colors that you have chosen for your home. Some may not even be able to see past them and decide they don’t want your home solely based on the fact that your wall was displeasing to them or they didn’t want to have the struggle of trying to paint over them. Also, walls fade and dirty over time so having them freshly painted will make your house appear more fresh and new.
- Enhance Curb Appeal
Though not a huge factor in appraising value, curb appeal does have an effect on sale price. This is the first thing potential buyers see and often they don’t even look at a home if the outside doesn’t appeal to them. According to a 2007 survey of 2,000 brokers conducted by HomeGain, an online real estate marketing site, an investment of around $400 or $500 dollars in landscaping, can bring a return of four times that. You should also replace rusty rain gutters
- Update Bathrooms
Buyers are most attracted to homes with modern, up-to-date bathrooms. If you can’t afford to completely gut and re-do the bathroom, there are several smaller things that you can do to it to add value to your home. Clean the grout, replace frosted glass for clear glass, apply fresh caulk, update doorknobs and cabinet pulls, remove rust and hard water stains, replace faucets, and install a low-flush toilet or even just buy a new toilet seat. You could even paint the countertops and cabinets.
- Update Kitchen
Like the bathroom, an up-to-date kitchen is highly appealing to home buyers and often something they are looking for. Upgrade countertops, re-finish cabinets, install new appliances, replace the faucet and possibly even the sink, change the cabinet pulls and doorknobs, and improve the flooring and lighting if needed. Clean any cooking grease off of vent hoods, remove rust and hard water stains, add a backsplash if you don’t have one, update it if it is out of date.
- Fix Major Faults and Eyesores
Home buyers are about to make a huge commitment, and spend a lot of money. They most likely have no interest in buying a home with noticeable faults. Make sure the roof is in good condition and that if it needs repaired you do so. Make sure the homes heating and cooling systems as well as the water heater are not past their useful life and replace or repair them if needed. Get the impartial advice of a friend who can tell you what’s drawing attention and raising questions for the wrong reasons. It could be anything from bad wall paper to a crack or water damage mark on the ceiling. Whatever it is, fix or replace it.
- Add Storage Space
Home buyers want storage. They want a place for everything from their vacuum to bedding to toys and so on. Anything you can do to add storage space to your home will increase its value. Closet organizers are very appealing. Adding built-ins when possible is one way to maximize storage. That could mean a bookcase tucked into a niche beside the fireplace or transforming the dead zones under stairs and below windows into functional space.
- Add a Garage
A garage appeals to buyers for multiple reasons. They add storage, protect cars from weather damage, protect cars from theft, and so on. If you don’t have a garage, consider converting your carport into one, adding one on, or building one on your property somewhere. Even a detached garage will add value, however most home owners like when the garage has access to the house so that they may avoid bad weather.
- Increase or Improve Outdoor Space
If you live in an area where people tend to spend a lot of time outdoors, a deck, patio, balcony, or screened porch will add value, and it is usually cheaper than adding interior space. If you already have any of these make sure they are in good condition. Refinish and seal the deck if needed and so on. Also, don’t forget to pay attention to the front door. You would be surprised at the effect it has on home buyers. Make sure the door looks fresh and inviting, that the doorbell is working, the handle is appealing, windows and sidelights are clean and free of cracks, and that there is an awning or portico, above the front door to protect people from the rain or snow as they are waiting to enter the house.
- Replace Windows and/or Siding
Replacing old windows can be a high-return investment, and will not only make the home look better, but increase the energy efficiency of the home. Adding fresh insulation to the walls and attic will also help with energy efficiency.
- Add Square-footage/Open the Floorplan
Adding square footage to your house by finishing a basement or attic space to make it a “livable space” will also increase value to your home. The resale price and appraised price both take into account how much “livable” square footage a home has. You could add an addition, but that would be much costlier than just finishing the attic or basement. Also, these days’ people want an open floorplan. Remove a bulky kitchen island (if you have plenty of other kitchen storage) or knock out a non-structural wall (maybe between a kitchen and dining room or dining room and living room) to create a sense of flow and open space.
When you are ready to sell your home, contact us at Boise Real Estate Pros. We are happy to answer any questions you may have and help you get the best price for your home.