Everyone wants to get the best price possible for their home when it comes time to sell but knowing where to spend money or time on improvements that will add value can be difficult. The primary goal should be to keep your costs to a minimum as this will give you a better bang for your buck. We have listed a few potential options you may find helpful when looking to sell your home.
Clean and Tidy
One of the most cost-effective ways to increase value or interest in your property is by showing off a clean, crisp home to prospective buyers. Before any potential buyers view the house make sure you have cleaned all the windows inside and out, and the home is decluttered to appear more spacious. For many buyers seeing a clean home is important, first impressions are key when selling. All carpets and flooring should be cleaned as needed; flooring is one of the most significant costs for new homeowners so showing a super clean floor will help to win them over. Leave out some cut flowers for decoration that will give a sweet fresh smell and provide a great first impression to buyers.
Buyers priorities change, but the universal constant is that no matter how large or small your property is, if it is well presented and maintained, it will be instantly more appealing to any future prospects. This precise fact was reflected in a recent survey, which revealed that 56.6% of people believe that renovation work is one of the easiest and effective ways to both add value and increase the curb appeal of any property.
While we’ve been told since childhood, not to judge books by their cover, when it comes to the world of real estate, this is precisely the first thing that most people notice. Kerbside appeal is crucial to attracting a buyer and ensuring that the front garden or walkway to the door is well looked after is paramount. For back yards, many people like to have a dedicated space to relax so adding decking, or a patio will help you achieve a higher price come selling time. Just be careful not to overspend while making the outdoor area attractive. Your goals can be realized by keeping a well-maintained garden and leaving the viewers (buyers) with a sense of ease in regards to the managing and looking after of said garden in the future.
A simple and relatively cheap way to increase space in your home is to convert a basement into a living space, should you have one. Converting a basement usually needs no planning permission and can be done with little expense but, can yield significant gains in the value of the property. The cost of your basement conversion will depend on a few factors, but the price per square foot will be better than you have already. A loft conversion is another potential to increase space and value in the home. Loft conversions can add an extra bedroom or office which will add real value to the house – you may need to seek planning permission, but this can be done easily. Adding a pool to your garden will be another value-added item, but be cautious as you may not gain as much after the expense. (The actual dollar gains on a pool can be negligible.)
As mentioned above, adding extensions to the home may not be the most cost-effective way to increase its value. Property that has planning permission for extensions or conversions will be more desirable and will increase the value. Gaining zoning permission from the state may take some time, but the costs are relatively low, so there is a good scope to make money by increasing the value. Planning permission costs as little as a few hundred dollars and you have the potential to add thousands to the sale price.
Kitchens and Bathrooms
The most expensive areas in any home are the kitchen and bathrooms; these rooms can make or break a sale. Kitchens are the hub of a home and need to be well presented to attract buyers. If your kitchen is old and tired, it may not be cost effective to get a new kitchen built, but you can make minor improvements which will help. Changing cupboard doors and handles will give the appearance of a newly fitted kitchen without the expense. Updating the sink taps and fittings in bathrooms and kitchens will also make the rooms feel new and fresh. Updating flooring in your kitchen and bathroom can also be cheap but will add tremendous value to the home. If your budget allows for it, you can update some of the devices found in your kitchen to more energy efficient models, which in today’s climate is a sure winner.
Adding value to your home does not need to be an expensive exercise, by taking a little care and maintaining what you already have to a high standard will always give you the best chance of getting the price you want. Be wary of spending too much to add value as you may only break even or possibly lose a little. Be self-critical when looking at your home and try and understand what you would think if you turned up to view the house and how it might appeal to you as a buyer. At the end of the day, if you wouldn’t want it, why would another person? Always put on your best and the chances of success will be in your favor. Good luck!