When it comes down to resale value, it’s not exactly easy to predict how much a house can go for. The factors affecting real estate prices are volatile and always changing. It all depends on many variables, such as the market rate, the demand, inflation, among many others. But that’s not to say that there’s nothing to be done to increase the resale value of a home.
It is definitely possible to increase a house’s value, perhaps even possible to see a considerable appreciation too. Here are a few ideas if you’re considering increasing the resale value of your property.
Upgrade the Overall Look
One of the easiest to increase a property’s value is to make it look more appealing. Of course, everybody would value a good-looking house highly, and this situation is no different. Considering sprucing up both the interior and exterior of your property. Re-paint the walls to match a more modern and vibrant color, make sure the bedrooms are as pretty as they can be- many people judge the value of a home on how good-looking its rooms are.
Don’t forget to include the exterior too; employ professional lawn and landscaping services to make your house more appealing. While upgrading or remodeling a property that’s intended to be sold might sound like too much financial investment, it’s worth all the effort as it can help guarantee a sale. Even older properties will sell high if it looks good.
Make Efficient Use of Space
Larger houses carry a higher price, but even a medium-sized house can be profitable if the space inside it is used efficiently. Most houses have a set number of rooms, perhaps more if there are renovations and remodeling done throughout the years. Think about whether the number of rooms in your property is adequate or too much. Some buyers might find multiple small rooms unattractive, as it severely limits the active space just to increase the number of rooms.
Consider having fewer rooms but of relatively large size. You can also opt to clean out the basement to make it more palatable for regular use and turn your attic into a loft. Upgrades such as these make a large difference in property value as they add more livable square meters to your property.
Energy Efficiency Matters
We live in a time where the increasing cost of energy is parallel to people’s awareness of the effects of global warming. More and more people are beginning to opt for energy-efficient alternatives that provide clean and safe energy. To make a property more enticing for modern buyers, you also need to make use that your property doesn’t hog electricity. And it doesn’t entail needing to make major changes.
Start with replacing the existing light bulbs with LED, as it is cheaper and considerably more energy-efficient than older types. If possible, enhance the insulation to lessen the need for expensive heating. Another idea is to create more windows (without sacrificing the structural integrity of course), as this would let more light in, reducing the strain on electricity. A major change, but a welcome one, is to install solar panels. It might cost a lot, but it will definitely add to the resale value of your home.
Make Sure There are Enough Bathrooms
Most family-sized houses normally come with one or two bathrooms, especially two-story properties. While this might sound enough, many people prefer having more bathrooms as it’s a highly convenient addition to any house. And interestingly enough, it’s one addition that can add a hefty sum to the value of your property. Research shows that installing another bathroom can add a value of up to 5.7%, making it a highly beneficial addition to the property you’re planning to sell.
Fix Structural Problems
No one wants to buy a house with hidden problems that can be too costly to fix. That can drain the buyer’s budget. Be sure to fix any structural problems before putting your house up for sale. If possible, make some additions that can improve the integrity and appearance of the property. This will give you a better chance of closing the deal in no time. If you think you can’t handle all the repair work on your own, get professional help; you’ll be glad you did.
Any homeowner would most probably consider their house priceless. After all, homeowners pour their love and effort into building their own homes. But when it comes to its resale value, emotional judgment is best left on the sideline as most buyers won’t share the same sentiments.