Selling your home is a big step. Naturally, you want to ensure the best home value possible and sell your property for as much as you can on the market. But this is easier said than done. Ideally, you would have been considering future home value from the moment you purchased a property. After all, the average length of time a family lives in a home is around seven years; one survey found that 65% of homeowners in the United States believe that the value of their home will continue to increase over the next ten years.
But there are many market factors that are out of your control. If you remain passive and hope that your home value has gone up without additional effort on your part, you could wind up being surprised by what you find when it’s time to sell your house. Making smart improvements and renovations will help eliminate some of the guesswork when it comes to values and estimates. There are plenty of ways—at different price points—that you can increase your home value before selling.
Improve Your Curb Appeal
Your home’s curb appeal creates a make-or-break first impression. This is the first thing potential home buyers notice about a property. Your home exterior should make prospective families excited to walk through the front door. There are simple, cost-efficient ways to do this. For starters, your landscaping should be well-maintained. Consider planting some flowers, adding some walkway lighting, and sprucing up your porch.
Work On Your Kitchen
Your kitchen is one of the most important areas of the home. According to NerdWallet, even a minor kitchen remodeling project will allow you to recoup 81% of your costs. By comparison, an upscale kitchen remodeling project will get you back 53% of your costs.
It’s not uncommon for sellers to overdo the kitchen renovations, going above and beyond; fancy granite, marble countertops, and stainless steel appliances sounds great in theory, but might not be the best financial or strategic move to make when you’re leaving your home. And in some cases, it can actually have an adverse effect; potential buyers might think the home is out of their price range and won’t have room for negotiation.
Paint Your Walls
Dirty and chipped walls can have a negative impact on the overall appeal of the home. But it’s important to be careful with your choices. Neutral colors are a safe bet, as bolder colors easily become another to-do item on a buyer’s list. If you want to infuse a bit of character into your home, opt for a “feature” or “accent” wall that’s colored differently than the rest of the home.
Feature walls help create character and personality in your home, but you should finish the wall off with some decor, like mirrors, plants, and artwork. You can also use wallpaper for the accent wall if you want to incorporate fashionable prints for a low cost.
Incorporate Some Luxury Into Your Bathroom
A midrange remodel on a bathroom will yield, on average, a 70% return on your investment. But first thing’s first: make sure your bathroom is in working order. The majority of potential buyers will ensure the entire home is good working order before any official purchases are made, and any issues with plumbing could turn them away.
Once you’ve ensured your space is in great condition, you can start focusing on making your bathroom visually and functionally appealing. And believe it or not, there are plenty of ways to create the “spa” aesthetic without going overboard of luxury finishes.
For instance, replace your showerhead with a modern option, get new hardware for an updated appearance, or reline your shower or bathtub. And of course, adding decor goes a long way. Take a look at stylish bathrooms on Pinterest to give you an idea of how you can jazz up your bathroom space. If you’ve got a theme going on, stick to it to create a cohesive balance from room to room.
Fix Your Flooring
Your flooring is an integral part of the home sale. Many people expect their floors to be clean, contemporary, and updated. Carpet isn’t as stylish as it used to be, and many people expect new homes to have wood flooring. If you do opt for carpet, you should refrain from putting it throughout the house; instead, choose comfort areas like a family room or bedroom, and use a high-quality carpet that infuses comfort.
Make it Energy Efficient
An energy-efficient, eco-friendly home will prove very attractive to many buyers, and particularly those that are interested in protecting the environment. Energy homes are not only better for the environment, but they can also help homeowners save money, too. Furthermore, an energy-efficient mortgage allows borrowers to take on additional debt, which can cover the purchase of the home and allow them to make further energy-efficient upgrades—ultimately further contributing to the value of the home. And lastly, homes with energy-efficient mortgages can benefit from lower mortgage rates.
To improve the eco-friendly appeal of your home, consider adding LED lighting, improving your attic insulation, and incorporating efficient appliances. If you’ve recently purchased your home and want to simultaneously save money on your bills as well as improve your home value, you should also look into installing solar planning. Because they’re a structural and financial commitment, they wouldn’t make sense for a quick value boost, but can make all the difference if you want long-term value you can make the most of.
Knock Down a Wall
Open floor plans are all the rage in real estate. Open floorplans make it easier for natural light to be dispersed in a home and creates the illusion of more square footage. Buyers who enjoy entertaining or have children they want to keep a better eye on will be particularly attracted to the open floorplan option. Depending on the type of home you have, you can have a wall knocked down for a much lower cost than you might imagine.
However, before you go knocking down a wall, talk to your real estate agent to discuss trends in your local area. A real estate agent will also be able to tell you what the chances are of you recouping your cost, and how it will impact your home value.