Derek Lotts Managing to get your own home is always a big step and a great moment in your life. It’s also a given that before you proceed with this significant decision, you have researched the market well and you have taken into consideration the hard work that comes with having your own home.
On top of that, it is no secret that in today’s world people are changing homes at least two to three times in their lives. That being said, you need to try your best in order to ensure that when the time to sell your home comes you have increased its initial value and you have cut a good deal for yourself.
Boosting your home’s value isn’t easy, but it’s possible. Nevertheless, it requires a solid plan, constant investments and a lot of effort.
Here are 10 smart tips that can help you increase the value of your home. From renovating your kitchen to extending your property.
1. Renovate your kitchen
It goes without saying that the kitchen is one of the most crucial parts of a house. That’s why, maintain it in a good condition should always be a priority. A nice kitchen can truly boost the value of your asset and make a big difference when it comes down to selling your home. With that in mind, it wouldn’t be a bad idea to renovate your kitchen and choose good materials. As a rule, the more money you invest in your kitchen the more you will get back once you decide to sell the house.
2. Bathroom matters also
Once you are done with your kitchen renovation, the next stop is your bathroom. We don’t even have to mention how important a bathroom is for a home. The bigger it is the higher the price of your home. Like in the kitchen case, make sure that you invest in top quality materials and that you protect the bathroom well from humidity, bugs and any other factor which could decrease the value of your home.
3. Build an additional room
An easy and straightforward way to increase the value of your home is to add an extra room to it. It doesn’t take much to understand that a 2 room asset will be cheaper than a 3 room asset (as long as they are both in a similar condition) due to the fact that it can provide less functionality to its owners. Furthermore, by increasing the number of rooms in your home you can unlock another part of the market to which you couldn’t appeal to until then.
4. Outdoors also matters
Especially if you live in a city this parameter can truly make a difference. Take good care of the garden and make good use of any outdoor space that comes with your home. This factor could instantly increase the value of your house. By having a garden, it is most likely to attract couples and families which means that you attract a segment of the market with a stronger budget.
5. Painting can make a difference
Most of the people may consider a good painting as the least of their concerns, but it really isn’t. A solid painting job can increase the value of your asset and make your home appealing to more candidates. The reason behind this is simple. You give to the buyer a full illustration of what their house would look like once they decide to proceed with it. In addition, you save them from the trouble of doing the painting themselves. More money for you less work for them. A win-win situation.
6. Decoration is important
As a natural continuation of the previous point, the interior space of the home matters a lot. Try to invest in taking good care of the interior and its decoration. This could be an additional card up your sleeve and increase the price of the home. Especially if you are planning to sell a furnished asset, this parameter is fundamental. But even if you don’t, it’s always a good idea to help the buyers visualize their new home. Thanks to your decoration, they can get some fresh ideas for their home and get excited about the option that you offer to them.
7. Adjust to the market
The next tip is mainly for those who want to think in long-term or they have the necessary resources to make big changes in a small period of time. Adjusting to the market can take years but it will eventually help you increase your home’s value. For instance, if there is a strong request for family homes in your area, you might want to readjust your home from a 2 room to a 3 or 4 room asset. Immediately, you open a new market which has the financial capacity to buy your home and increase your earnings.
8. Be careful if you rent it
Ideally, the fewer people that have stayed in your place the higher its value in the market. However, this isn’t always possible. For the one reason or the other, you might want to rent the place. In that case, you need to be extra careful with the people that you choose to live in your home. Make sure that you mention to them the importance of taking good care of the asset from day one. If they don’t, start looking for someone new who can respect your terms. Lastly, make sure to renovate the place once they move out. In that way, you can boost your home’s value instantly.
9. Learn to market it better
Sometimes it’s not about what you have but what you show to the market. The real-estate market is no exception to that. Before you submit your ad online or to the papers, you want to be sure that you have taken good photos of the asset and that you have put together an enticing text which clearly describes the benefits of your home and why its value is as high as it is.
10. Find the right agent for the job
Last but certainly not least, finding the right person to handle your home building project is essential. A good agent can actually boost the value of your home and bring you closer to the big deal that you have dreamt of. That being said, you want to make a good market research before you end up working with one of them. Your network is your biggest ally in such cases. Gather as many information as you can and choose the one that fits better to your needs.
Final thoughts
All in all, increasing your home’s value is a long and challenging process. Nonetheless, as we showed above it can be done under the condition that you have a smart plan in place. Follow the steps above and good luck with home-selling effort!
About the author: Anastasios Koutsogiannis is a Content Marketing Manager at GenieBelt.
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