The overall resale value of your home depends on a number of complicated factors. But, the good news is there are small ways you can increase your market value and asking price.
Household projects that make your condo or house more appealing and inviting will excite potential buyers and can eventually lead to a healthy return on investment when a deal is closed. Consider these 8 easy steps to improve your home’s value:
8 Ways to Increase Your Home's Resale Value
1. Upgrade an Old Appliance
The kitchen is an essential part of what makes your house a home. So, you want to make sure this space is as useful as it is visually appealing. An old fridge or dishwasher dates the room and also dictates design possibilities, while more modern, sleeker models give your kitchen new life.
Similarly, if your appliances are especially old, they may not work as well as they used to. Newer options are often more efficient and quiet, which will be appealing to any would-be buyers.
Take a look around your home. What looks old, used, or dated? If you upgrade it, you may be able to see a higher resale value for your home!
2. Plant a Few Trees
HGTV found that landscaping makes a big difference when it comes to your home’s overall curb appeal. A few well-placed trees are the crucible of an inviting, attractive property. However, you’ll want to be careful about selecting the right species and location.
Adding the right plants can be a relatively inexpensive way to make an impact on your house valuation. And, aside from being visually appealing, trees shade your home in the summer, potentially lowering the amount you need to run the air conditioning. Planting a few trees is a win-win.
3. Renovate a Bathroom
A potential buyer may be impressed by your well-manicured lawn and modern kitchen but can still be turned off if they discover a bathroom full of grime and outdated fixtures. Consider making changes to a downstairs or master bathroom in an effort to make your home more memorable.
Gwen Moran, co-author of “Build Your Own Home on a Shoestring.” told Bankrate that making meaningful changes to your bathroom, such as updating bathroom fixtures, is relatively inexpensive but also a reasonable project for homeowners to consider tackling on their own.
4. Break Out the Paint
A fresh coat of paint can help make a room seem more fashionable and newer, but the right colour choice can also convey a mood and sense of vitality. Use this as a launch pad for reimagining a space ahead of a showing.
For example, consider a soft hue in the kitchen to make it feel more appealing and reinforce this by bringing in new lights. In the living room, try a richer, darker shade to create a regal, relaxed atmosphere.
5. Get Proactive About Outstanding Issues
An inspection is an important part of selling a home, and if a major issue is uncovered late in the process, the final sale price could drop considerably. Staying ahead of the curve is a way to address issues as soon as possible.
Smaller home repairs are also helpful. These can make your home more visually appealing—as well as more functional and safe. Spend a weekend crossing off the projects on your list that you’ve been putting off.
6. Check Out the Floors
A worn carpet is another way your home can show its age. Stains or tears are particularly off-putting and should be addressed before you start showing your house or condo. Even if you don’t outright replace a carpet, you can cover up blemishes with well-placed furniture or decor like throw rugs. In fact, some buyers may look forward to selecting their own carpet, so only replace your carpet if it’s well past its prime.
Hardwood floors are appealing, but scratches and other issues can be just as discouraging as an old carpet. For that reason, consider paying for a repair or otherwise cover up any blemishes as best you can.
7. Think Like a Buyer
One of the best ways to assess the potential appeal of your home is to investigate it through the eyes of a potential buyer. Give everything a proper assessment and don’t talk yourself out of clearing up an obvious issue.
Similarly, remember that a buyer will be acutely aware of clutter or poor interior design. Keep things organized and use potted plants or framed photos to make your home look a little more arresting.
8. Invite a Pro Over
To increase the resale value of your home, spend an hour with someone who knows exactly what they’re doing. Invite over a realtor or interior designer to check out your condo or house.
One of the best parts of this tip? Spending time with an industry professional is low cost and sometimes free! Many realtors will do a walk through with you for free as a courtesy. You’ll likely have to pay a consultation fee to have an interior designer check out your home; however, the hourly fee is usually less than $100. Check out a few interior designers in your area and pick one to spend an hour with getting ideas for improvements needed to increase the market value of your home.
Before getting a house appraisal, do what you need to make a positive change on your house or condo. To see a few options for sprucing up your home, head to a Kitchen and Bath Classics showroom. Our experts can support you in selecting the right addition to increase the resale value of your home. For more information check out one of our showrooms today!