Tips for West Coast Homeowners to Boost Their Property Value

Written by Posted On Friday, 27 March 2020 12:17

Let’s face it, the market is in a tough spot right now. The economy is taking a massive hit with the outbreak of COVOID-19, with the impacts expected to last years. This is impacting a lot of people who are trying to sell their homes. Everything seems to have been put on pause for the time, while markets take their time to start finding some balance. 

If you are trying to sell your home, we are here to help. We thought we would delve into what steps you can take to push the value of your property up, especially over this very tricky time. But first, just what does property value mean? The property value of a home is determined solely on what the market dictates at the time. It is calculated by the meeting of supply and demand and what buyers are willing to purchase for, depending on the state of the economy. The value of the property is determined by real estate agents but could be lowered depending on how competitive the market is. 

The property values of most homes along the West Coast were significantly up at the beginning of 2020, with San Diego leading the pack for price gains. But the whole of the West Coast saw some significant gains, compared to last year, with both San Francisco and Los Angeles up by over 2%. For a more in depth insight into the current market, it would be best to contact a local mortgage broker Los Angeles, if that is where you are based, to get a detailed breakdown on interest rates and values. 

It is best to have a full insight into the market and understand what the potential buyer is looking at before you place a value on your own home. Let’s jump into what else you can do to increase the value of your property in the meantime. 

Install a Carport 

This simple, yet highly effective trick can hike up your property value quite significantly. Dependent on what kind of carport you choose, you could be looking at anything between $700 to $10,000 of value added to your property. Carports are a simple structure to not only allow more parking space for extra cars, boats or bikes, but can also serve as a protective area for entertainment or outdoor time with friends and family. 

Carports And More suggests adding a sturdy and secure structure that will weather the outdoor elements and add the level of protection you need for your beloved assets. You will also need to consider the design, and materials that the carport is made of. Traditionally, a carport is made of steel and aluminum elements, and is simply put together. However, over time, more design has gone into the construction and you can now add a beautiful wooden structure to your home that will complement the rest of your home. Shop around for some ideas and be creative. The more you do so, the more value you add!

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Upgrade Your Backyard

There is absolutely nothing worse as a prospective buyer than walking into a home with an unkept, overgrown garden. The first thing that someone will think when they look at it is that the years of neglect will take years of work to fix up. No matter how small or large a garden is, it is going to be worth your while to spend a bit of time and money to structure the garden layout or add a few features to make it appealing and liveable.

Adding a feature like an entertainment area where the new owners can host barbeques and dinner parties could be the selling point of the home. A simple pergola with string lights, simple outdoor furniture or a fire pit could make the world of difference in your backyard. Look at also planting some new plants, herbs or a vegetable garden. Self-sustainable living is currently trending, and if you give the new owners a leg up, you could ensure a quicker sell. Maybe consult with a local landscaper to get some good ideas and to design a garden specific for your unique backyard.

Modernize Your Bathrooms

Topping the list of the most popular and worthwhile upgrades is your bathroom and kitchen. A bathroom renovation can actually return over 60% of what you spent on the upgrade. A mid-range upscale can set you back around $20,000, and return you $13,000. It could also mean less time on the market, which is essential to sellers. There are various things to take into consideration for an upgrade, including the vital fixtures and plumbing that, with wear and tear, can slowly degenerate over time. 

Be sure to get a certified plumber in to replace pipes and plumbing. Choose modern fixtures and faucets to add to the sinks, baths and showers. A new, luxury shower head could also ooze decadence, so consider changing that. Add a fresh coat of paint, and possibly, change up the color scheme completely. Currently, darker colours are trending; grey statement walls, plants and copper finishings are all the rage. If that doesn’t work for your environment, consider egg-shell with natural colors and hanging plants. Lastly, look at the lighting. Downlighters will not only modernize your bathroom, but it will open up the space and make it look much bigger. 

Upscale Your Kitchen 

As with your bathrooms, water damage and wear and tear can wreak havoc on your plumbing. To significantly increase your property value, getting these assessed and possibly replaced will add in the range of $5,000 to $15,000 to your home value. As with bathrooms, a fresh coat of paint, downlighters and small decorative finishings can make a world of difference. 

Appliances and cupboards are also integral. Old, rotting and disintegrating cupboards are an eyesore and also unhygienic. Consider installing new cupboard space with new counters to give the room a fresh, modern feel. Upgrade the appliances to new, contemporary looks and you will see a lot more money in the bank for your home!

Wrapping Up

Do your research thoroughly when selling your home. Visit homes in your area that are also for sale to see what you are competing with. Keep up to date with modern design trends and invest in them to spruce up your home and make it a must-have. Lastly, consult with specialists and experts. Find out their recommendations as well as their market forecasts. The more knowledge you have, the quicker you can sell. 

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