Showing posts with label Your Home's Property Value. Show all posts
Showing posts with label Your Home's Property Value. Show all posts

Sunday, July 30, 2017

5 Cost-Effective Ways to Increase Your Home's Property Value

Getting a house ready to sell can be daunting. Property values are constantly changing and buyers can be fickle. It's a stressful undertaking, but if you are willing to put in a little work you can greatly increase your home's value and make sure that it sells quickly. 

Here are some of the most cost-effective home improvements that you can make in the days, weeks, or months leading up to your home's market debut.

1. Paint

Paint is by far the most inexpensive home improvement. High-quality paint only costs about $25 per can and you can easily do the work yourself. Neutral colors will appeal most to buyers while light colors will make a room look larger and more open. 

Accent walls painted a brighter color can also be an excellent choice, but make sure that you limit their use to one room.

2. Flooring

When you're looking to buy a home, seeing that you will have to replace floors right away is a pretty big turn off. If your house is sporting stained carpet or ripped vinyl floors, take the time to get them replaced before it goes on the market. 

If you can, opt for hardwood floors. These will retain anywhere from 80 to 90 percent of their value during a resale. If your budget doesn't allow for hardwood floors, you can always replace your flooring with carpet or engineered wood. Be aware that these other options won't hold their value as well during the sale.

3. Curb Appeal

If your house looks good on the outside, it encourages people to come in. Keeping the outside of your home in top shape is essential if you want to sell. 

It can also be one of the easiest ways to get a few more dollars out of your home. If you don't have a lot to spend on landscaping, make sure that your yard is mowed, your hedges are trimmed, and any flower beds or gardens are well-kept. 

If your budget allows it, consider adding a porch with a small sitting area to give the house a cozy feel. Replace the front door with a steel model. Add some shade trees. In addition to being beautiful, well-placed trees can lower cooling costs and provide a home for squirrels and birds. 

4. Minor Remodels

If you are going to go through with a remodel, make sure that you start with a kitchen or bathroom. 

These are the two areas of a house that consistently offer a high return. Bathroom remodels can be expensive, but following Hillary Farr’s Rules of Renovation will ensure that you get the maximum return on your investment. 

Repaint the bathroom and remove any outdated wallpaper. Dress up mirrors by adding inexpensive frames. Choose stone countertops and wood cabinets or upgrade vanities and pedestal sinks. 

If you are looking to splurge on one item in your bathroom, let it be the shower. Currently, walk-in showers and floor to ceiling steam showers are the most sought after bathroom amenities. 

Many people are even willing to forgo a bathtub if it means that they have access to a spacious shower.

Kitchens renovations tend to cost more, but many of the same basic rules apply. Opt for wood cabinets and stone countertops. 

Paint the kitchen with bright, neutral colors. Replace low-quality kitchen sinks with farmhouse sinks. Upgrade appliances or at least ensure that the ones present are fully operational. 

Avoid adding recessed lighting whenever possible. Instead, opt for classic and stylish lighting fixtures or light tubes. 

5. Fiberglass Insulation

Although adding insulation doesn't seem exciting, it does offer one of the best returns on investment. Adding high-quality insulation to the attic increases the market value of your home and lowers your heating and cooling costs all year long. 

This is one home improvement that you should definitely consider whether you plan to sell your home now or in a couple of years.

Use these simple upgrades to increase your home's market value before you put it up for sale. Buyers will be impressed with a home that looks cared for and their offers will reflect it. 

Try out some of the improvements on this list and see just how big of a difference they can make in your home.

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