5 Tips To Increase The Value Of Your Home
If you are considering selling your home below are a few tips and tricks to ensure that you will get top dollar for your property. These tips are great for those with both a small budget or big, as many of these recommendations can be done yourself if you have the skillset (and the time!).
1. Update the kitchens & bathrooms for the greatest return on investment
It's a well known fact that updating your kitchen will give you one of the biggest returns on your investment. Second to the kitchen is the bathrooms. If your budget does not allow for a kitchen reno, tackle one or two small things such as updating old appliances with new, adding in a new counter top and backsplash or painting your cabinets & updating their hardware. Similarly if you aren't ready for a full renovation in the bathroom you can easily update the inexpensive elements such as vanities, toilets and fixtures to still get the look and feel of an update without the full cost.
2. Prioritize curb appeal
First impressions matter. Having a positive curb appeal will draw potential buyers in and can have a big influence on their opinions of your home. Increasing curb appeal can be done in many ways; from landscaping to painting your front door or even something as simple as refreshing your house numbers.
3. Give the interior of your home a fresh coat of paint
A fresh coat of paint throughout your home will make your home look inviting, fresh and clean. This is the simplest way to add value to your home. When choosing your colours, avoid anything dramatic - stick with neutral tones which will appeal to the broadest number of potential buyers.
4. Add to or re-invent your space
Bigger homes usually lead to higher values. Adding a room, such as an additional bedroom, is the obvious way to add square footage to your house. You can also create additional living space by finishing the basement or by building a deck. If adding additional space isn't an option for you at the moment, you can consider smaller pursuits such as utilizing and re-inventing the space you do have. You may want to try re-arranging your furniture to see if you can accommodate new spaces such as a nook for a home office.
5. Implement Efficiency upgrades
Lowering your home’s energy costs will save you money for the duration in which you are living there and will add to the overall appeal of your home when you're putting it on the market. A more expensive but oftentimes worth it improvement can be a replacing an old and inefficient water heater or replacing old windows with new high-efficiency windows. A great quick and inexpensive fix is to switch out old energy wasting incandescent bulbs for LED bulbs.
The best thing to do to ensure you are getting top dollar for your home when you decide to sell is to partner with a great real estate agent. Your real estate agent will be a great resource when choosing the best home improvements to do before selling to maximize to your budget and get the best return. If you have any questions about the process – I’m here to help. Please don’t hesitate to reach out.