Right now, the housing market is leaning heavily in favor of sellers. Homes are going for much higher than their actual value due to the low supply and high demand.
If you’re in the market to sell, here are seven tips to help increase the value of your home and make the most money you can.
- Make Major Repairs
When you get close to the sale, your home will be up for inspection. It’s vital to address such major issues as roofing, siding, or significant electrical or plumbing upgrades prior to the home inspection, if you wish to ensure that step of the process won’t prolong the closing.
It’s best to hire a contractor for major projects like roof replacement so everything gets properly up to code.
- Increase the Living Space
Making the most of the space is a valuable way to get the most out of your sale. Though some areas may be used for storage, it’s best to optimize them for living.
The more liveable space you have, the higher the total value. Clear out your garage of any excess storage you may have used it for, so people can see their cars inside it. Turn the basement into a finished office.
- Improve Curb Appeal
Before potential buyers step into your house, they’ll see the exterior. Whether you hire a landscaper or do the work yourself, make sure to improve what’s known as “curb appeal.”
Plant fresh, blooming flowers. Keep the lawn freshly mowed for all viewings. Give the shutters a new coat of paint. It might even be worth investing in power washing the outside of your house as well.
- Upgrade Your Kitchen
One of the best ways to increase the value of a home is the kitchen. That’s where people spend most of the time, not just cooking, but hosting parties and often eating most of their meals.
Kitchen renovations don’t have to be incredibly expensive. Faux paneling can add backsplashes on the cheap and you can do those yourself.
You will want to hire a contractor for any extensive renovations that involve plumbing or electricity, however.
- Give Everything a Fresh Coat of Paint
The house needs to feel new, and nothing says new more than a fresh coat of paint. This can be time-consuming, but investing $25 in a can of paint is well worth it.
Make sure the colors are neutral and bright. Dark colors tend to make a room feel smaller than it is. Remember, you want to optimize the living space, not downsize it.
- Go Energy-Efficient
People are looking for ways to reduce their carbon footprint. This includes how the impact their home is having on the environment.
Make small enhancements to your home, such as installing energy-efficient lightbulbs, or larger improvements like upgrading big appliances that save on monthly water bills.
Buyers will be more willing to buy a house that promises to save them money instead of sinking deeper into their pocket every month.
- Stage the House
The number-one way to make a quick sale at a high price is by staging. Unless you have an eye for design, it could be worth investing some of your renovation money into hiring a professional stager.
These pros have an eye for design and understand modern elements that will increase the value of your home. If you don’t have the extra money to spend, do some research.
Keep things simple. Limit the amount of furniture in the house. Depersonalize the space by removing photographs and signed diplomas from the home office.
Any excess items you’re getting ready to move should be placed in storage and out of sight for viewings. The potential new owner needs to be able to see him- or herself living in the space and people can’t do that when there’s a lot of clutter.