Improving home value is a top priority for people that want to receive the best offer when selling their house. There are several ways to go about making a home more valuable to buyers. However, it's important to conduct research to determine what buyers are looking for before spending money on home renovations.
It's important to note home value isn't the same as real estate appraisals. While a property might be appraised at $100,000, buyers might feel it is worth more or less depending on the types of amenities.
It can be helpful to think back to the selling point when you purchased the home. Was it because of the community where the house is located? Was it the built-in swimming pool or gourmet kitchen? Perhaps it was the size of the lot or the fenced-in back yard. Whatever made the house attractive to you might also be the selling point for buyers.
Trying to sell a house in today's marketplace requires homeowners to fully understand buyers' needs and wants. It can be helpful to talk with your realtor to find out which features should be emphasized.
Real estate agents are constantly talking with buyers and can help determine the best features of your property. They might recommend upgrading kitchen appliances or bathroom fixtures or suggest adding shrubs or flowers to spruce up the exterior of the home.
It's normally not a good idea to spend thousands of dollars in home renovations because you probably won't recoup the full amount when the house is sold. Certainly, renovations are necessary if there is substantial damage, but renovating a kitchen just for the sake of putting a higher price tag on the property isn't a smart approach.
There are many things that can be done to increase home value that don't cost much money. Giving the home a deep cleaning and clearing debris from the yard will go a long way in making the home more marketable.
If necessary, rent a power washer and wash down the exterior of the home. Apply fresh paint to exterior and interior walls. Keep windows sparkling clean and keep blinds and curtains open during showings to bring sunlight into each room.
Deep clean carpets; apply a coat of wax of linoleum flooring; or stain wooden floors if they are nicked and scratched. Clean ceiling fans or add new fans in living rooms and bedrooms.
While keeping your house in impeccable condition for showing can be challenging, buyers appreciate a clean house. It shows them you care about the house and have taken good care of it.
The same holds true for the exterior of the home. Spend time weeding flower beds or planting colorful flowers. Red and yellow flowers are most appealing to buyers, but be careful to purchase plants that don't attract bees or other pesky insects.
If you have a fenced in backyard, make certain the fence is free of defects. Tack down loose boards and give the fence a fresh coat of stain or paint. Trim bushes and eliminate tree branches that are overgrown or full of dead leaves. Taking time to clear debris and trim the yard can go a long way toward increasing home values.
Last, but not least, get rid of clutter in each room, along with organizing cabinets and closet spaces. If needed, store unnecessary furniture, clothing, and personal items in a storage unit. The less stuff that is kept in the home the better because removing clutter will make rooms appear larger.
We offer additional suggestions for improving home value at our home buying and selling blog. Here you'll find resources for mortgage loan programs, first time home buyer programs, and tips for selling your house fast.
Published on March 23, 2012 at 11:28 AM