To remodel or not to remodel?
If you plan to put your home on the market, this is a crucial question. You need to learn how to optimize the value of your home now if you want to work your way to your dream home. Here are seven of the best ways to increase your property’s value.
Structural and Mechanical Improvements
Before even starting to concentrate on superfluous changes make sure you make all required reparations, repairs or replacements for the interiors of your house. Heating, plumbing, and electrical systems are included in this area. The basic infrastructure must be well-working for your potential buyers since they do not want any repairs or replacements done to be paid out of their pockets. Give them that.
Make it more attractive
What your home looks like from the street is your first chance to make a good and lasting impression. The exterior of a house must make a potential buyer go through the front door. When it comes to selling your house, beauty is extremely important. It is said that a good first impression of a house can add five percent to its value. Make sure the color and details of your exterior meet the requirements. The entrance should be paved correctly and every lawn well maintained. If you’re not a great gardener, find drought-tolerant plants. Attach some lovely décor or create a lovely garden if you have a courtyard.
When designing your home, you don’t have to have gorgeous gardens, but your garden should be neat and well maintained. Upgrading your landscape is a low-cost way to make your home ready for sale. Take the time to add bark mulch to improve your environment. Planting seasonal flowers doesn’t cost a lot of money. You can replace any older shrubbery with more flowering varieties if you have a little more money on your budget. Make sure to cut and weed your lawn when your home goes on the market for a better look. Remember, it’s all about first impressions.
Replace your external doors
When it comes to adding value to your house, replacing an old hideous door with a solid mahogany door with a matt, oval piece of lead glass is an added value for your home. The garage door is also an important component. Do not forget to increase the appeal of the garage door. You, your neighbors and potential buyers will first see the front of the house, and in many homes, this is where the garage is. Garage doors are quite attractive and a modern glass door or a rustic wooden door will improve the appearance of your home dramatically. According to the Remodeling magazine 2019, costs vs. Value Study, replacing a garage door alone, recoups 97.5 percent of the project costs.
Make it more Energy-efficient
If your home is more energy-efficient, the value may increase significantly, particularly if you live in an area where such is highly sought after. In fact, there are Energy Efficient Mortgages (EEMs) that make it possible for borrowers to get additional loans to fund both home purchases and energy-efficient improvements. You also can get lower mortgage rates to increase purchasing power via EEMs. Energy-saving functions, particularly in extreme heat or cold environments, can make a big difference in the quality of life. Energy-saving functions can have a major impact on the quality of life, especially at extreme heat or cold locations.
Replace or add another bathroom
Bathrooms are an important part of a home. It can be a huge challenge for potential buyers if there aren’t enough bathrooms or if they are obsolete. Updating toiletries and faucets, or adding an extra bathroom if you have enough space, can greatly increase the attractiveness of a home for sale.
Make it smart
Smart technology doesn’t always add value to your home, but it makes it more appealing. According to a 2018 Coldwell banker report, security enhancement apps are at the top of the list of “smart” technology buyers in your new homes. Thermostats, fire alarms, carbon monoxide alarms, security cameras, door locks, and lighting are part of these safety and intelligent devices. Those who believe themselves to be techies tend to pay for these things more. And unlike the large renovation projects such as the rework of the kitchen and the bathroom, you can install these devices yourself.
There is no simple equation to determine which projects -and there are many other than the ones mentioned above -will generate the highest return or the greatest profit for your money. The local markets and also the age and design of the house are some of them. Research or advice from a qualified real estate professional can help homeowners avoid expensive projects which do not really add value to a home.