As a realtor, part of the investment potential of any home is wrapped up in making improvements to the property or physical structure. To maximize your sale profit, you will want to compare other homes for sale in the area to see what amenities are popular for the area and what the current market conditions are.
Here are a few things you can do to upgrade your properties and increase the selling price to its maximum. Many of the changes involve sheer cosmetics; others may take some initiative to accomplish.
If your property has furniture or decor from the sixties or seventies, it may be time to upgrade your look. Muted browns, hard wood and linoleum are popular modern looks that will make your home look fresh and inviting. Stainless steel appliances and in-counter stovetops should replace worn or off-color varieties. Finally, modern environmental touches like high efficiency machines, a tankless water heater, a water filtration system or solar panels to supplement your electrical heating or cooling system will attract those buyers who are looking for a ‘green’ option.
2. Replace Systems if Necessary
Buyers need to have confidence that the major operating systems that come with the home are in good working condition. Before trying to sell your home, replace major heating/cooling systems or plumbing components if necessary. This includes the water heater, furnace, air conditioning unit, sump pump, water softener or even electrical boxes. Also fix those outdoor cosmetic or functional issues. If the garage door isn’t working smoothly, fix it. If a window or door doesn’t fit right, replace it.
Creating curb appeal is an important part of selling any home. Landscaping improves the look and feel of your property. Plant shrubbery, flowers or small trees. Add a small path of brick or a patio. A well-maintained yard will attract those people who are looking for more than just a nice house. In fact, studies indicate that an improperly cared for lawn can decrease the intrinsic value of your property. And don’t focus just on the front yard. Fix up the backyard, trim those trees and cut the grass.
4. Add to your Home
One of the most important things you can do to increase the value of your home is add more space. A new bathroom, a larger kitchen, more storage space. The choices are endless. Adding an extra bedroom or having a room that can be converted to a bedroom can attract a larger family to your home than you might have gotten without the addition. Before you go to build, however, consider your local ordinances. Is it legal to build an extra room in your neighborhood or do you have to go through hoops to build on? The changes you make to your home in regards to size will add a value that cannot be over-estimated.