Comprehensive Guide to Boost Your Home’s Market Value
Your home is probably the biggest asset that you own. Because of that, you should take care of it well, even if you’re not planning to sell it anytime soon. Taking care of your house and ensuring that it’s in good condition will increase its market value in the long term. However, if you’re currently trying to sell your property, it would be a good idea to look around your neighborhood to know the average prices to see if your home currently matches the market price, or if it needs a boost.
Some people believe that their property value will automatically increase over time. In many cases, this is true, but there’s no way to guarantee it. Jeff Stewart from Stewart Realty explains that many things determine your home’s market value, starting from your neighborhood to your home’s condition. You might not be able to sell your house at a certain price, while your neighbor could sell their property for a much higher price than yours; that’s mainly because of the house’s condition. Knowing how to set your home value could be a little tricky and you should know the current price for your home.
To know whether your home needs a boost or not, and how to do that, here’s a comprehensive guide to boosting your home’s market value before selling.
Painting the External Walls
You might think that only the interior of the house is what matters, however, how it looks from the outside is also important. Your house’s exterior is the first thing the buyer will see. When a property looks old or shabby, it’s less likely to be sold, even if the house itself is in good condition. You don’t need to completely change how it looks, but a coat of paint will do the job and will make it look fresh and new. However, if there are obvious damages to the walls, you might need to fix it before you begin painting.
Try to paint the external wall of your house with colors matching or close to the rest of the houses in your neighborhood, even if you don’t like the colors. Choosing bold colors while the other houses are painted in neutral colors will make your house stand out, which might not be preferred by many people. You can consult an expert about what colors would match the rest of the house, and at the same time, attract buyers.
Renovating Your Yard
Everyone loves a good-looking yard where you can enjoy the sun. If your yard or pool is not in good condition, it should be fixed or renovated before selling to attract buyers. It will not be expensive to fix your yard, but it can boost your home’s market value. Make sure that there are no dead plants or flowers and that the pool is clean and working properly. Invest in new soil, a few trees, or consider upgrading your lawn by laying new sod to make your yard attractive. Since buyers only see how your yard looks, they will not be aware of how much it would cost to renovate it. So many people will not be interested in taking the risk of purchasing a property with a yard that needs a lot of work.
Upgrading the House
After you ensure that the outside of your house is attractive and there’s nothing about it that might repel potential buyers, it’s time to check the house’s interior. The first thing any buyer notices in a house is the condition of the floors, so start by checking the floors. The floors should be clean and look new. Selling a property with a cracked floor will decrease its price. Invest in high-quality flooring and make sure to clean it properly before any potential buyer sees it.
The second most important things that affect the value of a house are the kitchen and the bathrooms. Usually renovating a kitchen or a bathroom requires a lot of effort, time, and money. Few people will accept buying a property that needs a lot of work and expenses. It will immediately bring the price of your home down. You don’t need to renovate your kitchen with fancy countertops and cabinets; however, you will need to make sure that everything is working well and in good condition. When it comes to the bathroom, you will need to ensure that it doesn’t need any repairs. You can change a few things that make your bathroom more attractive and look new, but at the same time will not require a large investment.
Ensure That Your House is Low Maintenance
Your house might be in good condition but have many things that will require maintenance after a few months. It’s better to conduct the needed maintenance before selling your house, so buyers wouldn’t need to worry about that at least for the first year. If you have an old water heater or furnace, it might need to be replaced or repaired. If you change or repair them before selling, it will increase your property’s price. Many buyers will be willing to pay more in a house where they don’t have to be worried about repairs.
Selling a home can be complicated, especially if you want to increase your home’s market value. Renovating your house could sound expensive and may seem like a lengthy process that you don’t want to get into while trying to sell a property. However, renovating your house to ensure that the walls, floors, and kitchen are in good condition, will increase the price of your home. You don’t have to change everything in your house to make it look presentable, you just need to ensure that everything is working fine and looks good.
You also don’t need to repaint your house with modern colors if the walls are in good condition, sometimes white walls are more appealing to buyers than colored ones. Many people are looking for a home where they don’t have to change and renovate everything in it, even if it’s for a higher price. By renovating your house, you will ensure that you will boost your property’s market value and there will be many buyers interested in it.
