6 Easy and Affordable Ways to Increase Your Home Value
How Do I Stand Out From The Crowd?
Have you been thinking about selling your home? Now may be the right time, but how do you get the most bang for your buck?
Following some of these easy and affordable tips, can make your house someone's new dream home. Trust me, I have seen it work.
Following some of these easy and affordable tips, can make your house someone's new dream home. Trust me, I have seen it work.
Tip 1: Clean Up
Cost - (DIY) $0, (Pro) $500
Potential Return - 3-5%
A clean home is a sellable home. So pick up the broom and break out the mop. I always tell my clients, "imagine you were interested in buying a home. You step into house A, it's cluttered, with stains on the carpet, chipped paint and a dirty pool. Now imagine house B, same style home, but the floors are clean, walls are freshly painted and the pool is crystal clear. Which house would you rather have?
This goes for the landscaping too. Trim the over grown bushes, paint the front door and pressure wash the driveway.
A couple of days of work could mean a higher sales price and quicker close on your home.
Tip 2: Spruce Up The Kitchen
Cost - $300 -$5000
Potential Return - 3-7%
Kitchens, Kitchens, KITCHENS! This is the focal point of your home. Many hours will be spent in the kitchen, so if yours looks like its from 1975, it's time to upgrade.This doesn't mean you need to break the bank, especially if your home has a lower potential value. Talking with a real estate agent can help you determine how much to budget.
If you know you can't afford to do a complete remodel, there are a few easy and cheap things you can do to get it showing ready!
Make all the minor repairs, like the leaky faucet, the loose light fixture and the burn mark on the countertop. Once you’ve made the kitchen fully functional, think about a gentle spruce-up. Paint the walls, update the cabinet hardware, and add new curtains. This will give the space a clean, fresh look.
Tip 3: Freshen Up The Bathroom
Cost - $300 - $1000
Potential Return - 2-3%
The Bathroom is also one of the most important rooms in a house to a buyer. So making sure it is clean is priority one. Inexpensive updates like re-caulking the tub/shower , re-grouting the floor and replacing all the fixtures (faucet, shower head and knobs, door knobs and cabinet handles) along with a fresh coat of paint can really help your bathroom stand out.If you think your bathroom needs a little more help, it may be a good idea to get a new vanity top and flooring. I installed my new vanity top for under $300 myself. Make sure the job is done right though. If you aren't the handiest person, it's worth hiring a professional. Buyers can tell between a pro and the home owner special.
Tip 4: Paint
Cost - $100 (DIY), $1000 (pro)
Potential Return - 1-3%
Nothing smells sweeter to a potential buyer than a fresh coat of paint. Now, this doesn't mean go buy YOUR favorite color and paint the whole house pink. Keeping the color neutral will attract more buyers to your home. So, your son may have loved that bright blue wall, but a potential buyer may not.Some of the best colors you can go with are off-whites and tan/beige. Also, be sure to use the same color throughout the entire home. This not only looks better, but it will make your home feel bigger as well.
Tip 5: Enhance The Exterior
Cost - $150-$7,500
Potential Return - 2-5%
What is the first thing a potential buyer is going to see when looking at your home? The outside! As much as you shouldn't judge a book by its cover, in real estate, buyers definitely do. So pull out the lawn mower, take a trip to Lowes and pick up some mulch and paint.Curb appeal is major when it comes to selling your home. I can't tell you how many times I have brought a client to a house and they didn't even get out of their car because the outside was a major eye sore.
This doesn't mean you need to go spend thousands of dollars on landscaping, unless you are in a more upscale neighborhood. You can get away with a few minor fixes to increase traffic to your home. Last thing you want to do is make the inside of your home gorgeous and have buyers not even want to walk through the front door.
Tip 6: Hiring the Right Agent
Cost - 5-6%
Potential Return - 10-15%
Hiring an agent is the best way to insure your home will sell quickly and for top dollar. Many individuals think they can sell their house on their own. This is not to say you can't, but it will be difficult and take more time and you may lose money in the long run. Not being able to show your home at a moments notice limits its visibility. This will send your home to the bottom of the barrel.Hiring the right agent will insure your home is highly visible and marketed to qualified buyers. Your agent will hopefully tell you all the listed tips above, and if they don't, you may not have the right one. They will stage your home, take professional pictures, hold open houses, market it through their social media accounts and websites, flyer your neighborhood, and get your home on all the major home search websites (Realtor.com, Zillow, etc.). They will highlight the good things about your home and figure out how to take the flaws and turn them into selling points. They will help you price your house competitively, so that you will be in a situation where your house sells quickly and for top dollar. They will negotiate with potential buyers and get you the best offer for your home. They will make sure buyers are pre-approved, and find the best title company for you to work with. They will solve problems and get the deal done.
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