Increasing your home’s value before selling it is something that many homeowners shy away from because they believe that this too costly. In reality, for every one dollar you invest, you can expect a return of at least 2, if not 3 dollars. This is why investing in home improvements will prove to be a wise choice but only if you invest smartly. Improving your home needs to be cost-effective in order to maximize financial gain. This means spending money only on certain projects that you can afford but that will increase the appeal of the house, making prospective buyers spend an extra thousand to purchase your house. Here are the 10 smart ways in which you can raise the market value of your property.
You were right to instantly think that simply repainting the walls will help a great deal. It will improve the décor of the house, both from the outside and the inside but it is not all the same which colors you use. You have no way of knowing which colors will the new owners fancy, so the best solution is to use neutral colors. Hues such as white, creamy yellow and light blue go well with any décor solution and they will definitely not scare off potential buyers. No matter how eccentric you may be, restrain yourself from using tacky colors like orange or light green inside the house, as not all people like them and they will perceive the walls as an unnecessary investment after they move in.
Takes Things Slowly
Because you are still living in the house before it is sold, you don’t want to turn it into a full-scale construction site. That is why the right tempo is to do one room at a time, so handymen don’t get in the way. Furthermore, you can do the entire home in stages, so the windows might get replaced first and then you can add new curtains. If you complete tasks consecutively, you will be able to estimate the price of future repairs, helping you plan the budge to the last dollar.
Increase Curb Appeal
When meeting a new person, the first impression you get is essential. The same is with houses, as that initial eye contact potential buyers make will determine whether they choose to buy the property. If your house has zero curb appeal, then all the sprucing up inside will be in vain. Firstly, you need to clean the outside of the house, decluttering the front lawn and washing the façade. Once you have clean surfaces to work with, you can consider changing the color of the walls and planting new grass. After that, you can apply some sort of fencing around the paths or you can plant some flowers at the edge of the property. If you own a mailbox, then a splash of paint could not hurt.
Speaking of the paths, they are more needed in the backyard. If you own a garden, then you need ease of access, so you don’t trample on the lawn every time a plant needs watering. The material for the paths could be stone or marble that you will find in the ground or you can drive it from someplace else, this way, the cost of the material will be lower and you only need to put some effort in to pave the walkways. The most appealing type of paths are gravel ones, as they produce a calming sound as you tread on them.
Building an Insulated Patio
As far as the backyard is concerned, there is one more addition that will boost the value of your home. Unlike the previous home improvements that are essentially DIY projects, erecting a patio and installing insulation are tasks for professionals like Interline Manufacturing who offer a 15-year warranty. If you try to build the patio yourself, there will be no warranty and you will lose a lot of money and time. That is why getting the ultimate outdoor living experience is not a layman’s job. Once potential buyers see how much you have invested in the patio, they will fall in love with the backyard and no price will be too high for staying warm during winter and cold during summer.
A Universal Kitchen Design
As far as the kitchen is concerned, this is one room where functionality takes precedence over appearance. People interested in buying your house know exactly which features they would like to have in their new kitchen, so if they are already installed this will be considered as a huge plus. An island counter is something that every modern family with kids needs, as it doubles as a dining table. Furthermore, there should be enough hanging cabinets that maximize the use of space by extending all the way to the ceiling. In order to make the whole more appealing, you can polish all the metallic surfaces such as knobs, handles, and borders.
Owning a backyard with a vegetable garden complete with flowerbeds is not enough. You need to usher the greenery indoors by placing potted plants inside each room of the house. This includes the bathroom as well, where bamboo or fern would fit in perfectly. Once people see that your house is not just another empty property from the catalogue, but a full-fledged home that you have created for your family, they will be more interested in buying it. Nothing says “home sweet home” more than a house full of greenery.
A Functional Bathroom
Another room in which new owners wish for everything to run smoothly is the bathroom. There are seral luxury features that you can add that don’t cost a fortune but turn the bathroom into an oasis of opulence in the eyes of the realtors and buyers. A towel warmer is not that expensive to install as it is connected to the existing heating system. You can install LED light on the ceiling to add a cheap extra light source that will double as ambience lights. Even the inside of the toilet bowl could be decorated with a colourful LED light that will know prospective buyers off their feet!
Financing the Improvements
The regular home budget is most often too small for financing all the house improvements. That is why we recommended earlier that you spruce up the house one room at a time, so the financial strain does not become too much for your household. In most cases, the insurance company is not going to consider your request for renovation, so you can resort to one of those bank loans aimed at home energy-efficiency. These loans have low interest rates as they are most often subsidized by the government. Furthermore, if your house meets a certain energy standard, you can automatically increase its market value by several hundreds of dollars.
Improving the Woodwork
Finally, the most vulnerable feature inside the house has to be the woodwork. It is not very resilient to old age and any water damage, so you need to inspect the entire house for any damaged wooden segments. Luckily, wood is not expensive to replace, so a new chair or a borderline will make the whole interior appear more modern. When you buy wall paint, you can get a can or two of wood paint as well, to correct all the chips and splinters. Don’t think that prospective owners won’t look for the slightest of damage inside the house.
Finally, it is about the proportion of the money you invest and the money you get back through the final price. Don’t be afraid to splash some cash in the final months before the house goes up for sale.