Do you know that nearly 65% of U.S. homeowners believe that the value of their home is going to continue rising over the next 10 years? If you’re one of these homeowners and you think that your home is your biggest asset, taking care of it is key to increasing its value.
Before you even list your home, you have to do some research on how to boost its value. Increasing its value is just a fancy way of saying “make it more attractive to home buyers.” If you make minor but attractive improvements here and there, you’re guaranteed to get a higher selling price for your home.
“First impressions last,” as the old saying goes. According to a report by the National Association of REALTORS® Research Department, 44 percent of homebuyers looked for properties online first in 2016. And when people up pull up search results, the first thing they see is, guess what? Pictures of the exterior of your home!
If your home looks hideous or outdated outside, it’s not going to be worth a steep price in buyers’ minds. So you have to make the outside look as fantastic as it can.
You can start with your landscape. Make sure the grass looks healthy and green, there are pretty shrubs and flowers, the walkway seems functional and well-repaired, and the trees (if any) aren’t overgrown or diseased.
Your doors and windows should also take priority. Your entryway should be the focal point, so consider using bold colors that contrast with the rest of your house. Your windows should also look new and fresh. Consider updating your windows by looking for suppliers of shutters in Fair Haven. And of course, the paint of your exterior should be clean and chip-free.
Each market segment is looking for additions that fit their needs. For example, millennials are often working online, so most of them look for a spare room to be converted to their home office. On the other end of the spectrum, many boomers are part-timing as sitters to their grandkids, so they want a room or space that can serve as a playground.
Many buyers are also looking for a “mother-in-law-apartment.” This is simply a space that can house additional family members or give rental income. This will help millennials pay the bills and boomers to afford their houses once they retire. Research what your target buyers are looking for a home and see if you can give it to them without breaking the bank.
Lower energy costs
The rising costs of electricity are playing a significant role in homeowners’ demand for energy-efficient homes. To lower your home’s energy costs, consider switching to energy efficient appliances, LED lighting, and double-paned windows. You should also enhance your attic insulation. If you’re willing to go all out, consider installing solar panels.
There are lots more ways to boost your home value, so be sure to do your research and talk to your agent before you list your property. Careful planning and analysis are sometimes all you need to get a higher selling price for your home.