Buying a home is a major life-altering decision, the kind you understandably have a lot of questions about. When it comes to selling, though, there’s only one question that really matters: “How can I raise the value of my home?”
Well, I’m glad you asked, because with a little investment and elbow grease, it’s easy to turn your old abode into a profitable asset. Seriously, who wouldn’t want to get more for something than what they paid for it? Follow the strategies below and I guarantee you’ll do just that.
Renovate and repair
The best way of justifying a higher asking price for your home is to leave it better than you found it. Trying to sell your property in “as is” condition is fine if you just want to get on with your life, but putting in a little extra work can go a long way.
Don’t be fooled by all those romantic comedy movies about couples buying fixer-uppers and playfully painting each other’s noses. In real life, most people today would rather move into a house that doesn’t require a lot of work to get up and running. So tighten those leaky faucets, spackle over any holes in the walls, and replace that cracked molding. Trust me, buyers notice.
Finally, if you really want to raise your home’s value to the next level, go the extra mile. Don’t just fix it. Enhance it. Redo the bathroom, finish the basement, or even add a new room if you can. Big renovations may not be cheap, but you can make all that money back plus a lot more when it comes time to sell.
Improve curb appeal
The first thing a buyer sees is the outside of your home, and that can be enough to make or break a deal even before they step one foot inside. If you want to make a good first impression and increase your property’s salability, don’t neglect the exterior.
Real estate folks call it “curb appeal,” and it doesn’t pay to do it in half-measures. You want to make your house look postcard-perfect to any passers-by, especially those looking to buy. The first step is making sure the exterior of your home looks clean and presentable. That means pressure-washing the siding, weeding the lawn, repairing the roof, and picking up after Rover.
From there, just like with the exterior, you can add even more value by adding more improvements. Plant some flowers, shrubs, or maybe a couple trees. Build a deck, gazebo, fire pit, or storage shed. Install porch lights, fencing, or, heck, even a swimming pool. Every dollar you invest in your property translates to more dollars in your pocket later.
Go energy efficient
Interior and exterior renovations have always been proven value-enhancers. But these days one of the most innovative ways of upping your asking price is by making your home more than just comfortable and attractive. Just like money, today’s houses have to be green.
Making your property more environmentally friendly has two main benefits. First, it helps ease the concerns we all have nowadays about sustainability. Second, and more importantly, it promises to save buyers money in the long run. They’ll gladly pay more now for an energy efficient property that will lower costs later, especially in areas with extreme summers and/or winters.
Economical features as simple as switching to LED lights, adding attic insulation, or installing double-pane windows can have a huge impact. If you really want to go green, you could even put up solar panels, creating a household that is not only energy efficient but energy independent.