Fixing Your Home Up Makes It Sell For More
If you’re going to sell your home at the highest possible value, you’ll need to put a little work in. As the saying goes, it’s better to work smarter, not harder. There are a lot of different ways to optimize your home, but some aren’t going to fit your particular property. Some of the following suggestions may be appropriate for you, some may not.
Still, the following generalized suggestions will be able to help the broadest majority of homeowners sell their property for much larger sums than they would otherwise. If you can double your investment on ten projects that cost $5k, that’s $100k in property value expansion. Even $10k spent wisely could add $20k to your home’s selling value.
1. Solar Energy
A 3.1 kWh solar energy system can increase the value of your property between $10k and $20k depending on your state—perhaps even higher; renewable energy trends are always in flux. The cost of a 3.1 kWh system is going to be right around $5k if you have acumen enough to install it yourself.
This isn’t terribly difficult; it’s a matter of mounting the panels and hooking up the positive and negative cables. The difficulty comes in sequencing everything into a battery array, but plenty of online YouTube tutorials make this fairly straightforward. For the most part, the larger your solar array, the more it will increase property value—to a point.
2. Built-In Furniture
Recently, Cabinet City announced all kinds of innovations in furniture. Check out their digital showroom, or even their real offices; if that’s convenient. At the very least, options like these can give you some idea of what to renovate. Built-in cabinets, Ready To Assemble (RTA) cabinetry, and other similar furniture trends can make a home more valuable.
You’ll want to do your homework, compare your space, compare your options, and determine your budget. Giving a home a modern “look” makes a lot of sense, and oftentimes has quite an effect on potential buyers. You may be able to ask more with a house that looks so trendy.
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Landscaping, DIY Decks, Basements, Attics, Roofing
Landscaping is essential. If your house looks run-down from without, even a good deal may not encourage potential buyers. However, if your house is run-down enough, this may not matter; it depends on why you’re selling. That being said, you want your home to have a well-manicured exterior, whether or not that includes sprinklers, gardens, or foliage.
Stones surrounded by wood chips can look quite aesthetic, and may make lawn maintenance a lot less difficult. It all depends on your personal proclivities and budget. That said, a green lawn with bushes, flowers, and trees is the ideal.
Also, look at the basement, look at the attic, and look at the roof. Replacing the roof brings more value than it costs for the most part, depending on your roof. Attics can become bedrooms, basements can as well. A DIY deck is pretty cost-effective and adds a lot of value, too.
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Kitchens And Bathrooms
Bathroom and kitchen remodel stands to be the most lucrative for property value enhancement, but can also be very expensive. This is especially true with the kitchen, where people have a tendency to go “all out”. That’s not a bad idea, but if you spend $20k on your kitchen and only get $16k in value, you’re out $4k.
Certainly, if you’re looking to refurbish a home for yourself, this isn’t an issue. But if you’re trying to sell, you want to be smart. Figure out costs and feasibility of upgrade before diving in. A good tip is to start small. Maybe update a bathroom in the basement to see what the cost is like, and how things work out after the fact, then do another. You don’t have to renovate all at once.
Working Smarter, Not Harder
There are many things you can do to increase your home’s property value. Aim for investments that return twice what you put in at minimum. You can’t always see this kind of profit, but starting with such projects is a good way to build up resources and experience for the more costly upgrades.
Lastly, don’t do any of this without consultation first. Professionals who have been there can help save you a lot of time and money, and set you in the right direction. Not renovating homes leaves money on the table, but “overdoing it” can be a problem, too. You’re looking for balance. Approach remodeling with counsel and you’ll find that balance.
