How To Boost Your Home's Value in a Slumped Market
In a recent article by This Old house, Real Estate Brokers shared their top tips for increasing the value of a home. In a slumped real estate market, free advice like this can go a long way for homeowners looking to sell their homes. The top ten suggested ways to boost home value include:
- Create Space: According to top real estate experts, buyers now are really into wide-open spaces. So, if you can take down a non-structural wall (non-structural being a key term here) or get rid of an unnecessary island- do so. Anything to increase the space.
- Get out your green thumb: According to experts, one of the most unappealing aspects of a home is overgrown shrubs, trees and flower beds. Make sure to maximize your home’s curb appeal so that your prospective buyer’s first glance is their favorite.
- Lighting is Key: Make sure your home has a lot of good lighting. Natural lighting is best but if you can’t get enough make sure to add appropriate lighting in each room of your home.
- Basic Maintenance: Make sure to cover the basics such as repairing leaky faucets, insulting pipes and anything else that keeps your home in good condition. Prospective buyers see details you may choose to overlook.
- Go Green if You Can: New homeowners are looking for energy saving appliances to battle rising energy costs. If you need to replace something in your home opt for a green alternative and you are probably helping your chance of sale.
- They Do Judge a Book by it’s Cover: Many experts say that a front door is one of the most important aspects of a home because it’s one of the first things a homeowner looks at. Does yours need to be replaced? Repainted?
- Flooring- According to the This Old House article, ninety-four percent of real estate pros recommend spending money on floors. It could as much as double your investment.
- Bath Upgrades- If you’re not in the market for anything major try some basic bathroom upgrades to really help your space. Replace old grout, update cabinet knobs- small things like this can make a big difference.
- Paint: If you are planning on repainting to increase your chance of sale, experts recommend neutral colors that will allow prospective buyers to visualize their furniture in your home.
- Remove the Questions- Fix or replace anything in your home that may raise some eyebrows and invoke the question, “What’s that?”. One room full of bad wallpaper or a broken threshold could break your deal.
Remember, if you do any major updates be sure to check your homeowners insurance policy to see if you need extra home insurance coverage while renovating your home.
Last modified on August 19, 2009 at 10:40:17 AM
