Improving the resale value of your home

Improving-the-resale-value-of-your-home

What makes a house a home? Everyone may answer that question differently. A home is where the family comes together. A home is a safe place to relax and escape from the rest of the world. A home is a piece of the world to call your own.

What you look for when buying a house can determine what you are willing to pay for it. In a housing market that is as volatile as ever in 2022, buyers are making offers that are far above the asking price across the country. Sellers, as a result, are benefitting massively from the investments they have made in their properties.

It is hard to predict how long this seller’s market will last. Some people who weren’t considering selling anytime soon may do so earlier than they planned because of the potential profits. While there are plenty of factors that will determine the resale value of your property, here are a few tricks that can help seller’s improve the value of their homes even if they are living in a buyer’s market.

Creating a space for a home office

The workforce has shifted significantly in the last few years, with millions of Americans discovering the convenience of working from home. If you are looking to sell your home in the coming years, buyers could be willing to pay top dollar for a home that has a dedicated office space. When designing this space, consider how natural lighting and privacy from the rest of the house would benefit someone who wants to work from home. Adding a home office takes planning, but it can significantly increase the overall value of the home.

Don’t underestimate the power of curb appeal

People are visual creatures. We love to look at beautiful things, and curb appeal can go a long way toward convincing someone to buy a certain house. A first impression matters, so take the time to invest in the aesthetics of your property on the outside. Maybe the front porch could use a fresh coat of paint. Try adding a simple box garden to spruce up the side yard, or plant some shrubbery in the front to block the stone foundation from sight. Landscaping can have an especially powerful effect on a property’s curb appeal. The aesthetic look of the house could tip the balance in your favor for receiving a better offer.

Make the necessary repairs or updates

A home is only as good as its functionality. If there are leaky pipes, outdated fixtures, or electrical problems, a keen-eyed buyer could turn down your home. Or, if they don’t catch the issue, the inspection will. Getting ahead of this potential barrier is key to a buyer saying yes, so make the necessary investment to get these problems fixed. You can even accomplish this yourself by getting a license online for plumbing or electrical. Plus, you will learn a new skill that you can apply in the future. Make the necessary repairs and improve the value of your home.

Discover what is trending for buyers

What is “in” right now as you are looking to sell? Are people looking for retro looks mixed with modern? Is an open-floor plan more popular now with families spending more time in the home? Are muted colors popular in your area or are people painting accent walls with strong contrast so that they pop more? Research some local interior design businesses to find out what people are looking for and then take advantage of that knowledge as you prepare to show your home to potential buyers.

Think “energy efficiency”

Younger generations especially are looking to lower their carbon footprint, and an energy efficient home is at the top of their list of priorities. Is your property set up to be environmentally friendly? Some things that can help are better insulation, new and energy efficient appliances, upgraded windows, compact fluorescent lamps, or even solar power usage. A lot of these improvements could depend on where you live and the demographics of people who are buying homes in your area, so do the research first before implementing some of these ideas. When in doubt, think about it from a cost-savings perspective. People are willing to pay more for the home if it saves them money down the line through energy efficiency.

There are plenty of options, so find what works for you

Although the current seller’s market is going strong around the country, you never know when it could end. Also, not every market is the same. These tried and true methods will help you get the most out of selling your home no matter what the market looks like. The key is to do your research and find out what buyers are looking for, and then implement changes that will raise the value of your home. Every dollar that you invest in the property, if done so strategically, means more profit when you sell.