The housing market is ever changing. Things that were important for buyers a few years ago may not be today. Sellers are always asking us what they can do to add value to their house. This is an interesting question, because keeping a clean house and keeping it updated are very important things but we advise people to be careful with what they buy and what they spend. Sellers will want to get the greatest return on their update value. With this said, we have put together the top 4 things that you can do to boost the value of your home without breaking the bank.
This is part of an on-going series of real estate articles by Nick Santoro and Joe Santoro of Personal Property Managers who service Pennsylvania and New Jersey and specialize in real estate, home content downsizing, property management and estate sales.
As a homeowner, you should focus on making your home appealing and more valuable. The more work you put into upgrading your home, the easier you will find it to turn a profit when the time comes to sell. The money and time invested into making these upgrades will more than pay off in the long run. Studies show that most homeowners will spend more on materials and upgrades in the first six months of homeownership than they will for the rest of the time they own the home. While that is understandable as you move into a home, it is equally important to constantly keep updating your home at a more moderate rate to keep the value of your home and work on increasing its value as time goes on.
Our 4 key tips for you to consider for increasing the value of your home are;
1. Paint. Keep it clean and fresh looking
The most affordable way to boost the value and appeal of your home is by having it painted. As time goes by, the paint on and in your home will begin to look a bit dull and worn. Rather than letting this dull paint reduce the appeal of your home, you need to get it fixed. If you are trying to sell your home, a fresh coat of paint can help to make it look new. Painting is probably the least expensive thing that you can do to help maintain the value of your home.
2. Kitchens are the focal point of any home
One of the most used rooms in a home is the kitchen. Making sure that your kitchen is both eye-catching and functional should be something you are passionate about. Over time, your kitchen may start to look dated and remodeling it is a great idea. When remodeling a kitchen, you will be able to update things like countertops and fixtures. Taking time to figure out which materials to use for this project is essential. Using granite on your countertops can raise the value of your home substantially. If you are unsure about what you want to change in your existing kitchen, then working with remodeling professionals is essential. These professionals will be able to inspect your existing kitchen and then offer suggestions regarding how to make it better.
3. An Energy Efficient home is Important to buyers
By boosting the level of energy efficiency, you can also add value. Hiring professionals to perform an energy audit is a great way to see where changes will need to be made. In many areas your local utility company will conduct an energy efficiency audit for free. Doing things like upgrading the doors, windows and HVAC unit in your home can provide you with far more energy efficiency. This will help to save you a lot of money on energy bills and can be a great way to reel in a buyer when you are selling your home.
4. Get New Flooring
Another way to boost the value of your home is by investing in new flooring. If the home you live in has carpet flooring, you should replace them with hardwoods. The hardwood flooring is both more appealing and will usually last a lot longer than carpeting. There are tons of different types of hardwood floors on the market, which is why you will need to do some research before making a decision. In fact, there is now engineered hardwood that cost about half of traditional hardwood and looks great. Years ago, everyone had carpeting. Today, the trend is hardwood flooring. It often gives a very comfortable feel to a room and is very much in demand to today’s buyers. It is one of the ‘must have’ for buyers today. Keeping up with current trends is very important now only for your own enjoyment but when it’s time to sell your home will stand out from your competition.