Increasing Your Home's Value
Tips for getting the best price when selling your home
Real estate experts say that for every dollar you invest in your home before you sell it, you can expect to generate two to three dollars in return on the sale price. Thus, when selling a home, it's essential that you take the time to make improvements that offer the best returns on investment. This is true regardless of whether you plan to sell the home yourself, or hire a real estate agent to negotiate the sale on your behalf.
Imagine you're buying a home. What would you look for? Chances are you'd be drawn to properties with enhanced curb appeal, renovations in key living spaces, and minimal cosmetic flaws.
Generate a Better Sale Price for Your Home
Here are proven ways to boost your home's resale value in the eyes of people involved with the home buying process:
- Curb appeal. First impressions are everything, so investing in some landscaping and exterior improvements is an excellent idea. Add new windows and doors, if yours are old. Make sure your lawn is mowed, and add simple but attractive landscaping touches like shrubs and hedges if your property lacks greenery. Finally, power-wash your home, or repaint its exterior if it's made of wood or siding. These are cost-effective improvements which are proven to generate profits.
- Key renovations. Real estate agents say that more than anything else, new kitchens and new bathrooms appeal to buyers. If you're going to renovate, concentrate your efforts on these rooms. New countertops, new appliances, new tubs and new showers all strike chords with would-be buyers, and be sure to maximize the available storage space in both rooms.
- Cosmetic consistency. If your home has some minor cosmetic issues but doesn't have any structural problems, invest in these improvements as well. New flooring, increased insulation, repainted walls and attention to detail all create the impression of a well-cared-for home, which is what all home buyers are looking for.
Many homeowners make the mistake of selling their houses in "as is" condition, figuring it's not worth their time to improve a property they're planning to leave. In fact, the opposite is true. Take the time to increase your home's value and you stand to profit a great deal in the final transaction.