Generally there are two ways to go about improving your home. Sure, you can invest in all those amenities you’ve always wanted—granite counter tops, marble bathroom floors and an in-wall surround sound speaker system. If, however, you plan on selling your home in the near future, we would suggest a more pragmatic approach.
Invest in some of the more “unglamorous” improvements that will increase the market value of your home; tasks like fixing that leaky roof, installing energy efficient appliances, or replacing that ancient furnace. In this week’s article we’re going to address the best ways to increase your home’s market value, and give you some facts and figures you can use to make the best decisions that suit your needs and budget.
“What A Beautiful Kitchen!”
Even a few basic improvements to your kitchen can pay handsome dividends. For most homebuyers, this one room is considered the heart of the home. A fresh coat of paint, new wallpaper, and even an upgraded hardwood floor can go a long way to bumping the asking price of your home up to the next level. Consider sanding, staining or painting tired cabinets, and don’t forget to replace old cabinet hardware! It’s amazing how such a small investment can make a dated kitchen look brand new.
“Honey, Look At How Much Space There Is!”
Another good way of increasing the value of your home is to add more livable space. This can be done by converting a basement to a “Man Cave”, an attic to a hobby room or an extra bedroom into an office. Some sellers claim to have recouped nearly all of their investment using this strategy to help sell their home quickly.
“The Bathrooms Are So Immaculate…”
Bathrooms are another common upgrade option for sellers seeking to sell their home quickly. With the right contractor, a well done bathroom remodel can be completed quickly and affordably. If your home has only a limited number of bathrooms, adding an additional bathroom with all the trimmings — marble vanity top, molded sink, bathtub with shower and ceramic tile — can almost pay for itself.
“Imagine The Parties We Can Have!”
A deck is by far the most cost effective addition you can make, usually recouping 85% of its investment value. Many sellers find the idea of having an extra entertaining space outside of their home very appealing.
It’s important to remember, if you do invest in remodeling any area of your home, if you plan on selling, it’s best to list your home shortly after the project is completed. The longer you wait to sell your home the chance of recouping your investment begins to decrease.
Are you ready to list your home? Call the talented, dedicated, caring agents of Coldwell Banker Innovations! We are committed to helping you sell your home quickly, easily and at the right price. Call 301.745.1500 today!