How can you increase the value of your home? Today I’ll give you four key tips.
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Today’s question is, “Can I do anything to increase the value of my home?”
My father used to say, “Christine, you make your money when you buy the property.” What he meant was that I should always try to buy the property at the best possible price because if you overpay for your house, you’ll never be able to get back all the money you put into it. Pay very close attention to what you’re actually paying for the home, and make sure that you’re in line with others are paying for similar properties.
Here are four additional tips to use if you’re looking to increase the value of your home:
List your property when inventory is low. During certain times of the year, we’ll see an increase in the number of properties on the market, but as more homes come on the market, the increase goes down. When there are fewer homes on the market, people are generally willing to pay more for what is actually available.
Upgrade your home. The value of upgrades typically depends on how much you paid for the home, as well as how much those upgrades will cost. Upgrades to your home’s paint colors, cabinetry, and countertops are among those that will give you the most value.
Have a strong pricing strategy. You should price your home in the same range that other, similar homes that have sold are priced in. Buyers these days are smart—they don’t want to overpay for anything, so if you price your home too high, you’ll get low offers. If you price your home just right, however, you’ll get more than one offer, possibly starting a bidding war. That’s when you really see the value of your home going up.
Stage and present your home properly. Pay really close attention to how your home makes buyers feel when they see your home. How are the decorations? The lighting? The furniture? Buying real estate is an emotional process, and it’s best that they feel a connection with your house. If it’s not clean, organized, or well-decorated, people may feel put-off by your home.
If you’re thinking of selling your home and would like even more tips about remodels or projects that would boost your home’s value, don’t hesitate to reach out to me. We have a great list of vendors who can help you to get your house ready to sell for the most money possible.