6 Steps to Increase Resale Value
Everyone who is getting ready to sell wants to make the most money possible in the process. While you may see a great deal of value in your home, that love you’ve created doesn’t always translate to financial gain. The best way to actually increase the value of your home and therefore your potential profit is by improving and updating the things in your home that buyers are looking for.
While there may be projects that you would prefer to do or may seem easier, It’s important to focus on the renovations that will net you the highest ROI. We have compiled this list for you to reference for their ability to produce high ROI. If you are looking to boost your resale value, check out the steps.
Real estate experts will always tell you that the highest ROI renovating your home can undergo is in the kitchen. People really want nice kitchens and it seems to be a major focus for a lot of homebuyers. The biggest priority when renovating your kitchen should be the layout. Having a functional space that can easily be updated is key. Once your space has ‘good bones’ you will want to find materials that have a high-quality look without a big price tag. You can make update a space and make it look great without having to use marble or granite.
Not far behind kitchens, bathrooms are the second place buyers place a great deal of value. Thankfully, bathroom updates don’t have to drain your savings. Primary bathrooms are the most important and should be your focus if you only want to update one bathroom.
The biggest concern of potential buyers is structural concerns. You can have a beautiful home that can turn into a disaster if structural issues aren’t addressed. Replacing old piping with a newer plastic solution is a huge selling point and can calm some of the potential fears that come with buying a home.
GET RID OF STUCCO/PANELING
Wood paneling and Stucco are common in many older homes. Not only do these things tend to be unattractive to buyers, but they also show potential buyers that you likely haven’t made other efforts to update your home. If they have to worry about what is going on with what they see, they are likely to worry about what they cannot.
Curb appeal plays a major role in getting people in the door of your home. It makes sense to focus on how the outside will appear to potential buyers, so having yellowing siding that used to be white is unlikely to attract buyers. For those on a budget, you can also try power washing – it can bring better results than you might expect and it barely costs anything!
Every home and situation is different. We can show you closed listings in your neighborhood to help you develop a plan for the highest resale dollars. Contact us today for a free home valuation and market report!