11 Easy ways to increase the value of your home !!
Are you looking to sell your home this year? Well, if you are, you’re obviously concerned about getting the right price. That’s understandable. After all, you’re selling something that you’ve invested a lot of money, effort and time into. The very least thing you can expect is a good profit.
There are several inexpensive and easy ways to increase the value of your home. Here are a few.
Clean and wash your windows
Windows that are clean, allow natural light to flow in without problems. This can do wonders for the value of your home when prospective buyers come to take a look. If your home happens to be dark and dingy, it could have an adverse effect on your chances of making a good sale. Also, light can tend to change a person’s perception. They have been known to make areas look bigger, which can prove to be advantageous in your situation.
Avoid bad odors
Believe it or not, a home with unpleasant smells will cost you money when you try to sell. The smell of pets, cooking, cigarettes and many other odors cost homeowners money all the time. If you smoke, avoid smoking in your house, opening a window does not work. Also, if you plan on selling your home try not to cook things where smell can linger for days. Finally, to cover up some smells you may want to try fresh flowers, opening a few windows, remove all shoes from the entrance and change your air filter in your furnace.
Clean the kitchen
The kitchen is one of those locations that attract a lot of attention. So, make sure you get it clean top it bottom. This includes all your appliances too. Make sure you clean the insides too. You’ll be surprised as to how many people actually pay attention to that.
A home that offers space or at least, creates the illusion of space has higher chances of getting sold. So, try and create some place in your home. So, remove anything that’s unnecessary or rearrange the furniture till you get a sense of roominess.
Fix your hardware
If you notice loose or damaged hardware, just get them fixed. This could include anything from doorknobs to taps or faucets.
Pets are members of the family too
Yes I agree they are members of the family. I have a dog and love him to death but if I wanted to sell my house and did consider a few things, my dog would cause me to leave money on the table when I sell. You have to remember, not all people feel then way about animals as you or I do, some might even be allergic to pets. So the best way to increase the value of your home when it comes to pets is to try and remove the evidence that there is a pet. I cannot stress the importance of vacuuming! Everyday even twice a day when your house is on the market, this will help remove some of the signs of having a pet and pet odors. Also, pick up and remove all pet toys, water and food bowls and yes, all the landmines in the backyard as well.
If your home has any form of dampness, do use a dehumidifier to get rid of it. A sense of freshness in your home indicates that it is in good shape.
Fix your garden or lawn
Make sure your lawn is mowed and the greenery isn’t allowed to grow free. This can darken your home and even cause mold to grow. Also, trim the bushes and hedges. A well-kept garden or lawn can enhance the appearance of your home.
Give your home a fresh coat of paint to liven it up. This will make the house look clean and well maintained.
Repair cracks or chips
If there are cracks or chips on your wall or ceiling, fix them immediately. Though you might not want to hide the real issues with your home, it is wise to eliminate evidence of older issues.
Pay attention to flooring
Flooring plays a key role in attracting the right buyer. So, make sure your flooring is in order. Fix scratches or stains as soon as you spot them. Get the squeaking noises checked. For instance, if you have hardwood floors that squeak, just add some baby powder. The powder acts as a lubricant and eliminates the noises.
Smart Renovations: Improvements that Pay
So you’re thinking about doing a kitchen facelift, putting on an addition or landscaping your yard. If you’re renoing your house with an eye to upping resale value, you may want to focus your dollars on projects that will give you the best return.
1. The kitchen
Kitchen renos usually offer the best return of any major improvement. Just make sure you’re keeping your update in line with the rest of the house and with other homes in the neighborhood. If you put a $60,000 kitchen into a $200,000 house, you don’t have much of a chance of recouping your costs.
Don’t have major bucks to sink into your kitchen? Sometimes a small facelift like new hardware, freshly painted cabinets or new appliances can make a big difference – to both your resale value and your own appreciation of the space.
2. The bathroom
Buyers like bathrooms that are up-to-date and stylish. Despite being one of the most expensive renos you can undertake (second only to kitchens) updating an existing bathroom or adding a new one can really boost the value of your home. If your home only has one bathroom, adding a second one is always a good idea. Or, if you live in a neighborhood where everyone else has three bathrooms and you only have two, keeping up with the Joneses can keep your property values up, too.
3. The basement
Finishing your basement (or your attic or any other unfinished area) can increase the value of your home tremendously. Adding living space almost always pays for itself. Plus, it’s more cost-effective than building an addition.
A well-constructed addition usually offers a good return at resale. Improvements that increase functional space (rather than just making your home look better) hold their value longer. Just be careful not to add on so much that there’s no space left on the outside; a yard that’s too small may not appeal to buyers.
5. Hardwood floors
Wood floors are elegant, durable and easy to keep clean. Stick with light or medium wood; dark wood looks formal and isn’t to everyone’s taste. It’s a pricey update, but you can usually recoup a good portion of what you pay for new floors – as long as your buyer doesn’t prefer wall-to-wall.
6. New paint (interior and exterior)
Painting your home is inexpensive, easy, and is one of the few investments you can make that will likely see a significant profit. Stay away from intense or unusual colors that won’t appeal to most buyers – tasteful, current neutrals are best. If you’re painting the outside, keep colors in line with other homes on your street.
7. New deck
An attractive, well-designed deck is a cost-efficient way to add usable square footage to your home, and offers excellent payback.
8. General improvements
These may seem boring, but overall, fixing the small stuff may increase the value of your home the most. Before you spend money putting in a Jacuzzi tub, first see if any structural or mechanical fixes take priority (like roof repairs, fixing a leaky basement, repairing doors that stick, dripping faucets, etc.) The Jacuzzi isn’t going to impress anyone if the toilet doesn’t work.
Improvements that DON’T pay
There are some fixes that simply don’t provide a good return on your investment.
An in-ground swimming pool
Since many buyers don’t want the maintenance and responsibility that goes with having a pool, installing one can actually detract from the value of your home.
If it looks like it will require a lot of work and money to keep up, it generally won’t appeal to buyers, no matter how nice it looks.
Replacing heating or A/C
You may make half of your money back at resale.
Replacing windows and doors
If they’re old and drafty, you’ll need to replace them, but it’s an expensive repair that you won’t likely see reflected in your sale price.
Whatever improvements you decide to make to your home, don’t cut corners to save money. A poorly done reno will detract from the value of your home, especially if buyers decide they need to redo it.
Want to see exactly what return you can get on your investment?
The Appraisal Institute of Canada (http://www.aicanada.ca/cmsPage.aspx?id=70) has a handy tool that lets you input how much you’re planning to spend on an improvement, then calculates your return.
Callout: “If you’re renoing your house with an eye to upping resale value, focus your dollars on projects that will give you the best return.”