Home Seller Tips: How to Boost the Resale Value of Your Home?
Statistics show that the real estate market has made a comeback from the severe dip associated with the recession of 2008. While this may be a favorable time to sell your home, you’ve got to do a lot more than put a “For Sale” sign on the front lawn if you expect to take away a decent profit. Investing in smart renovations and refreshes will increase the resale value of your home, but there are some key things to keep in mind if you want the best rate of return. Read how to boost resale value home in Arizona.
A Roof Can Make or Break a First Impression
There’s no denying that renovating a roof is an expensive project, but it could greatly deter a potential buyer if it’s not addressed. Not only is it an eyesore that depletes curb appeal, but it’s likely that the new homeowner would have to replace the roof in order to avoid water damage. Knowing more money has to be invested after purchasing is a serious turnoff for potential home buyers. Keep in mind that reports revealed that spending $14,000 on a new roof can raise the asking price of your home by $10,500, making your ROI 75 percent.
Calling an Inspector Can Save You Money
A pro can often scout out problems that could cost you a sale or reduce the value of your home. The national average cost for home inspector services is $324, a relatively small investment that could potentially have a big return.
You Don’t Always Need to Make Expensive Investments
Perhaps you only have money set aside for one or two major renovations, but not to worry. Experts agree that there are several creative home refreshes you can make to increase value that won’t break the bank.
Doing a test run before starting any DIY project will save you time and money. For instance, if you’re painting the inside of your home, start in a small space before moving to bigger rooms.
Here are some other cost-effective tweaks:
- Invent a Room: Consider your neighborhood and the buyer you’re trying to attract and reinvent an existing room to meet the needs of the market. For example, if you’re in an area filled with families, consider turning a den into a playroom, or vice versa if you live in a more urban neighborhood inhabited by working professionals.
- Create Multiple Seating Areas: Many potential buyers consider things like whether or not a home is conducive to large family gatherings or entertaining. Create additional seating areas indoors and outdoors to help them visualize such scenarios. Make sure the furniture is suitable for the size of the space you’re working with so it doesn’t appear cluttered.
- Rework Cabinetry: Entirely replacing cabinets can be costly, so opt for tweaks like replacing the hardware or refreshing with paint if applicable.
- Add Greenery and Florals: Grouping beautiful potted plants and florals outdoors can add major curb appeal without having to hire a landscaper.
- Increase Storage Space: Ample storage is an important feature for potential buyers, so increase space by adding a simple wire-rack closet system or a freestanding wardrobe in a room void of a closet.
- Less Is More: Potential buyers don’t want to see your knickknacks or your children’s toys, so remove clutter to let your home shine.
Realize that making the necessary renovations can take time. Rushing this process can backfire if you make costly errors. Create a plan that includes target dates for each project you want to complete to help you stay on track and on budget.
Contributed by Kris Louis
Selling your home in Phoenix AZ
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