What can you do to increase the value of your home? I have a few quick tips for homeowners who are either looking to increase the resale value of their homes or simply want to maintain their home’s value.
First of all, you need to maintain your home. Stay on top of small things like exterior paint, servicing your air conditioner, cleaning your gutters, and making sure your pool is in working order. Stay on top of all the little things that might break down in your house. Remember, if you have deferred maintenance items, they will need to be addressed when you sell your home; you will save time and money by repairing things as needed while you’re living in the home.
You should also create curb appeal. A healthy lawn with trimmed trees, bushes, and shrubs will draw the buyer’s eye. You should also add some nice landscaping and pots of colorful flowers to make your home more attractive and approachable to a buyer.
Make sure that the inside of your home is painted in neutral colors.Today’s buyers are looking for move in ready homes, and the today’s palette is leaning toward the lighter neutrals—shades of beige and gray that lighten the room; if your home features bold, bright, or dark colors throughout the house, with different colors in every room, buyers will have a hard time picturing their own furnishings in the home. Just because the lime green wall works with your furniture and decor does not mean it will appeal to the next buyer.
On that note, you should also keep your trim well-painted. A fresh coat of white paint on your baseboards, trim, and doors is one of the most economical ways of making your home feel new again.
Now, replacing outdated flooring is a bigger expense, but doing so can make your home very attractive to today’s buyers. If you have 12-inch tile from the year 2000 or 8-inch tile from the ‘90s, you should consider updating your flooring with something that appeals to today’s buyers. Consider wood plank tiles, hardwood floors, or new carpeting. Many buyers are limited in the budgets for major projects—so the fewer major projects they face, the more likely they are to choose your home versus the competition.
As for major renovations, the first room you should look at is the kitchen. Modern, updated kitchens sell homes.The next room you should focus on is the master bathroom. Today’s buyers are looking for master bathrooms with a spa-like feel, so luxury showers, and modern sleek finishes have great appeal.
If your budget doesn’t allow for a complete renovation, consider simply replacing counters and installing a modern backsplash. Getting rid of old kitchen appliances and replacing them with sleek modern appliances (in stainless or platinum finishes) will also make your kitchen much more alluring to today’s buyers.
Finally, one low cost thing you can do to make your entire home feel like new is update your faucets, light fixtures, ceiling fans, or cabinetry hardware. If you haven’t updated these in a while, your home may look outdated. Changing out your cabinetry hardware or light fixtures is a great, inexpensive way to modernize your home.
If you have any other questions about getting your home ready for the market or about our real estate market in general, give me a call or send me an email. I would be happy to help you!