Sep
30

Reliable Ways to Increase Your Home’s Resale Value

No one buys a house thinking that it will depreciate in value but it’s a general fact of life that maintaining and increasing your home’s resale value takes a concerted effort to make basic upgrades and repairs from time to time.

Yet, some improvements are more valuable than others and, if you want to quickly boost your home’s value, it’s best to put your attention there. You don’t always have to spend a fortune to increase your home’s resale value. Although some high-quality renovations will certainly pay off, some basic adjustments can reliably increase your home’s value and marketability.

Although certain homeowners can make big profits from selling their house, there are costs associated with the process that can chip away at the money you put into your pocket. For example, seller closing costs range between 4% - 8%. This expense can put quite a dent in your bottom line when you go to sell your house.

Homeowners are getting creative and hedging against this expense by increasing their home’s resale value. Ultimately, you want to do everything in your power to put the most money in your pocket when selling a property.

In this article, we’ll quickly run through five of the most reliable ways to add value to your property and help you profit the most when you’re ready to sell your house.

1. Energy Efficiency

One of the best investments you can make to increase your home’s resale value is to upgrade your energy efficiency. Not only will this make your home more attractive to potential buyers but you’ll also save money on your energy bills in the meantime.

There are a number of ways to make your home more energy efficient but one of the most effective is to install energy-efficient windows. New windows can make a big difference in your home’s energy efficiency and they also improve your home’s curb appeal.

Other ways to make your home more energy efficient include:

• Switching to LED lightbulbs
• Installing energy-efficient appliances
• Improving your home’s insulation
• Upgrading your home’s HVAC system
• Adding solar panels

Although some of these upgrades will certainly cost more than others, even basic changes can equate to an increase in your home’s resale value.

2. Smart Home Technologies

Another great way to increase your home’s resale value is to install smart home technologies. In recent years, these innovations have become increasingly popular and they now offer a number of benefits for both homeowners and potential buyers.

Buyers in particular are attracted to smart homes because they help to create a feeling of modernity and quality compared to older, traditional homes. When a potential buyer walks through a home staging, they’ll appreciate your willingness to stay up to date and leave knowing that you’ve invested in maintaining the value of your home.

Some of the most popular smart home technologies include:

• Smart thermostats
• Smart doorbells
• Smart lighting
• Smart security systems
• Smart sprinkler systems
• Smart locks

Installing even a few of these smart home technologies can make your home more attractive to potential buyers and, as a result, increase your home’s resale value.

3. Curb Appeal Matters

Don’t underestimate the power of curb appeal. Buyers are drawn to what they view as an attractive and stately property. If you can’t even get them through the door, they’re not going to make an offer and certainly not at your asking price. In fact, studies have shown that homes with good curb appeal sell for up to 11% more than homes without it.

Curb appeal may seem subjective and, while that may be true, there are some universal factors that can help make your home look more appealing. Some are more time-consuming than others and will take some investment but there are a few simple tricks you can employ.

Here are some of the most effective ways to increase your home’s curb appeal:

• Landscaping
• Painting
• Installing new gutters
• Replacing your home’s front door
• Pressure washing your home’s exterior
• Adding outdoor lighting
• Replacing your home’s roof

Remember, first impressions matter and, when it comes to selling your home, curb appeal is everything. Get the buyers through the door and then you can work from there.

4. Renovate Your Kitchen and Bathrooms

When it comes to increasing your home’s resale value, renovating your kitchen and bathrooms is always a smart investment. In fact, kitchen and bathroom renovations are regularly ranked as some of the most lucrative home improvement projects and they don’t always have to be expensive.

Although a full kitchen remodel will require new appliances, shelving, countertops, and tiling, by working one step at a time and taking on what you can handle by yourself, you can cut the cost of a home renovation and create an aesthetically pleasing, on-trend kitchen or bathroom that’ll greatly boost your home’s resale value.

Some basic kitchen and bathroom renovations that can increase your home’s resale value include:

• Installing new countertops
• Upgrading your appliances
• Painting your cabinets
• Installing new flooring
• Adding storage
• Installing new fixtures
• Adding a backsplash

No matter which renovations you decide to make, kitchen and bathroom renovations can help add up to $20,000 to your home’s resale value. Think of these remodels as an investment and they will pay off in time.

5. Remove Old and Smelly Carpets

Old and smelly carpets are a major turnoff for potential buyers. No one wants to buy a home with stained and musty carpets and, if your home has them, you can bet that it’s negatively impacting your resale value. And, best of all, replacing your carpeting is a relatively simple and low-cost way to increase your home’s value.

Not only will new flooring make your home look and feel cleaner but they’ll also help to mask any wear and tear that may have occurred over the years. When you’re ready to remove your home’s carpets, be sure to choose a neutral color that’ll appeal to the widest range of buyers or opt for hardwood floors.

You should also consider the quality of the carpet you choose as higher quality carpets will last longer and, as a result, help you to recoup a higher percentage of your investment.

Final Thoughts

There you have it, five of the most reliable ways to increase your home’s resale value. Although some home improvements will require a higher initial investment, even small changes can have a big impact on your home’s value and marketability.

Remember, when you’re ready to sell, first impressions matter and the sooner you hook interested buyers, the closer you’ll be to sealing the deal.