Maximizing Property Value
If you want to get the most for your home, it’s worthwhile to take a comprehensive approach in selling. You want to get advice from counsellors you can trust, you want to do your own research, and you want to apply relevant maintenance, renovation, or augmentation. Also, consider all angles of refurbishment.
For example, if you’ve got a mid-level sliding door facing the “backyard”, it may be worthwhile to install a DIY deck. This can increase property value, and barring that, represents an excellent recreational space. You might build a little deck around a fire pit, or something similar. Whatever suits you. There are many options, installation can be cost-effective.
Also, look into landscaping trends. You want to either have some sort of irrigated garden, or design your backyard to be aesthetically pleasing without the plant life. Wood chips and stone steps to a picnic table can be nice. A lawn is a bit more classically attractive, as are bushes and trees. If you’ve just moved into a home and want to maximize its value, plant fruit trees.
In twenty years, with proper care, you’ll have an orchard. This isn’t something you can do last-minute, but this kind of thinking is key in making the value of a property greater than what it was when you first became responsible for it.
Some Tactics To Pursue Before You List
If you’re going to list the home soon, you might install renewable energy systems. Some options, such as solar energy, may have an associated tax credit—though this may not stay on the books much longer. Still, even without the tax credit, solar panels provide trendy off-grid capability, and reduce monthly utility bills.
A 3.1 kWh system can raise the property value of your home between $10k and $20k, depending on your region. Such a system will cost $5k to install yourself, and doing so is pretty straightforward. You might even be able to do it for cheaper than that, unless you really don’t know what you’re doing; in that case, avoid paying more by hiring pros.
Wind and water energy can also increase property value, if such options are available and up to coding parameters in your local region. Do you have a staircase with a hollow area beneath it? How big is it? Could you make it an office, a den, a “man cave”, or a two-person theater? That’s a nice little innovation. At the very least such space can be made into storage.
You might want to knock down a few walls, then again this may be a bad idea. Also, if you’ve got an attic, clean it up and decorate it. This room could be an additional bedroom, reading room, observatory, or whatever makes the most sense. Also, be sure you finish the basement. This is relatively straightforward, cost-effective, and will increase property value.
Additional Considerations In Home Selling
Be sure to list your home at the right time and with the right people in your community, but also try your hand at selling the property yourself. It’s possible to skip realtors altogether, but if you don’t know what you’re doing, this could be a dead end. At house heroes you can find some considerable tips to help you get the best price for your home, and sell it the most successfully.
You might add an additional shed, or other prefab unit, in a yard if you have the space. Also, you can extend your home with such additions should that make sense. Redoing the roof can be a good strategy too.
Once you have your home set up how you’d like, and you’ve maximized resources in a balanced way that doesn’t clear you out dangerously, your next step is going to be staging the insides right.
The house should be clean and smell of cookies. That sentence is tongue-in-cheek, but you get the idea: make the home feel comfortable, and inviting. At least one room needs to have some furniture in it. Real estate offices can help you do the best here.
Don’t Leave Money On The Table
If you were renting your place, you’d definitely consult local rent reports like this one from ABODO before setting a price. The same goes for making a sale. Selling your home without taking steps like these are leaving money on the table. Just what was outlined here could upgrade property value $30k to $50k; maybe even more, if you go all out and are skilled in what you do.
Just be careful not to spend more than your renovations return in value. Consider what you have, what it needs, your resources, and your community. Fix what needs fixing, make strategic additions, and sell your home for more.