Ways to Increase Your Home Value
Now, while you cannot protect yourself against market corrections, you can take small steps to help increase your home’s value and make it more marketable. The following tips are meant to inspire and motivate you to treat your home like the investment it was meant to be.
1. Make Repairs
Homes require regular maintenance and repairs are a necessary component of homeownership. Stay on top of repairs as they are needed; and be sure to address large projects before placing your home on the market. For example, roofs are expensive to replace or repair; and will take time to complete. Many buyers will pass up your otherwise beautiful home when faced with leaking or old, unsafe roofs.
2. Curb Appeal
Curb appeal is about first impressions. It is also about neighborhood values. Drive down a street lined with manicured lawns and well-maintained homes and the values are sure to reflect the care their owners take. On the other hand, streets with overgrown trees, junky yards, and chipped and faded paint are fighting an uphill battle in the values game. Very often, a simple cleaning and cutting the grass can result in thousands added to your price.
3. Your Community
Improving the health and wealth of a community starts with you. By becoming an active member of your community, you can inspire the change you desire. Family, friends, and neighbors will follow your lead and when you ask yourself how can you get involved? Start here… Run for city council, join the PTA, volunteer, and/or help organize fund raisers and events that inspire community togetherness.
4. Updated Kitchen
Kitchens are a real selling point. Outdated cabinets, counters, and appliances will stick out like a sore thumb to buyers. Be sure, however, that you research your comparable sales in your neighborhood before beginning a remodel. You don’t want to price yourself out of the running. This means if while you love granite and travertine, other homes in your area are selling with laminate, you will probably not be able to ask for a drastically higher price that covers the price of the granite.
5. Updated Bath
Bathrooms also hold much of a home’s value. New low-flush toilets cost as little as $100. And tubs and showers can be easily replaced or resurfaced. Be sure that your bathrooms, (and your whole house), are clean for showings.
6. Energy Savers
Buyers are looking for homes that are energy efficient. Low-flush toilets, solar panels, water filtrations systems, and insulated windows are all inexpensive fixes for energy zappers.
Consider these simple tips and decide for yourself what may help your home retain or improve its value.
Of Note: The information contained in this article has been prepared by an independent third party and has been distributed to consumers for educational purposes only. The information is not guaranteed to be accurate and does not represent the opinions of OGI Mortgage Bankers.