If you have plans to sell your home within the next few months or years, you may be eager to make thoughtful improvements that can make your home sell faster and that hopefully can increase its resale value. Many types of home improvements will have at least a nominal impact on property value, and this is particularly true if you make improvements that have universal or at least broad appeal to most potential homebuyers. If you are looking realistic ways to bolster property value, focus your attention on these points.
Add Square Footage
Your home’s value is calculated by multiplying the square footage by the price per value based on current market data. Therefore, it makes sense to increase usable square footage in order to improve property value. A smart idea is to transform unfinished space currently included in your home’s footprint into finished space. For example, finishing out a basement or an attic is a cost-effective idea in many homes. You can also add a new wing onto your home, but the cost for this type of project can be more expensive. The other way to increase property value is to increase the market rate for price per square foot. Understand that you are confined by the market conditions at the time of the sale, but you can make improvements that encourage your home to be on the higher end of the market value spectrum.
Improve Your Yard
When your goal is to improve your property’s resale value, you need to focus on making the home more appealing. Attractive curb appeal can do wonders for generating interest in your home when it is listed for sale. Simple updates to the vegetation and hardscape features in the front and rear can produce huge results. Another idea is to make a huge improvement, such as by installing an outdoor kitchen, a fire pit and a swimming pool. Getting quotes from swimming pool contractors Naples can help you to determine if this is an affordable option for you to pursue.
Create Light
When homes are dark and dreary, they are much more difficult to sell in many cases. Homes that sit on the market for a long period of time may ultimately receive a low-ball offer, or the home’s asking price may need to be lowered to generate interest. Many real estate agents recommend removing screens and cleaning windows to let more light into the space. Another idea is to install larger windows and skylights if funds allow. There are other ways to create light, such as by installing new light fixtures where there currently are none. In many cases, natural light is preferred over artificial light during day hours.
Renovate the Kitchen and Bathrooms
A savvy real estate agent will tell you that the kitchen and master bathroom are the two rooms that can make or break a buyer’s interest in a home. These are also rooms that can unfortunately take on an outdated look easily because of the fact that most features are built into the home. A renovation is necessary to update these spaces. When you are choosing new fixtures and features for your spaces, remember to create a rather neutral but stylish look that may appeal to most buyers. Avoid making any updates that are too specific to a certain type of buyer.
Choosing home improvements that will increase your home's resale value makes sense. Each of these ideas can impact your home in different ways. Based on your available budget for improvements and on the specific characteristics of your home, choose improvements carefully. It may also be helpful to review listings for other homes listed for sale in your area. By doing so, you can see which features and styles are most appealing. You can also compare the homes against your home to better determine what types of improvements would be most beneficial.
