Those who plan to sell their home often look for ways to boost their home’s value in order to get as best deal as possible. On the other hand, people looking to sell as soon as possible, have an even more difficult task. What they need to focus on are the solutions that can be implemented in the shortest time-span possible.
5 Proven Methods That Will Increase Resale Value of Your Home in 2018
A lot of projects (like planting a tree), take time to pay off while some investments (like solar panels), may take years, even decades to pay off. Needless to say, this makes them less than ideal in your particular situation. On the other hand, here are five proven methods capable of increasing resale value of your home in 2018.
Take Some Photographs
The first thing you need to understand is that the photos of your home that you take for the real estate website may be crucial in your ability to close the sale. You see, when buying homes, people don’t actually give every single property a shot by visiting it in person, seeing as how this would either limit their reach or be incredibly expensive as a business practice.
The sheer cost of gas mileage necessary for such an endeavour would make this practice cost-ineffective. In other words, even if your home is a sight to behold, if they aren’t impressed by the photos, they aren’t likely to even give it a shot. Therefore, you should definitely set aside some time to learn how to take better real estate photos.
When it comes to selling your home, taking photographs can help you in two ways. First, by hiring a professional photographer, you can maximize the quality of images and gain a competitive edge on others on the same website. Second, by thoroughly inspecting images, you can spot some flaws that might reduce the value of your home.
This especially goes for the photographs of exteriors. By live inspection, it’s quite likely that you might miss a crack in the façade or a flaw in the roof structure. This problem may be something easy and inexpensive to fix, yet, if you’re unaware there is a problem in the first place, you aren’t likely to do something about it.
Landscaping Makes a World of Difference
A single tree, visible from the driveway can make your property about $10,000 more valuable, yet, in order for a tree to fully mature, it can take between 10 and 15 years. Still, proper landscaping can, in general, have such a drastic positive effect on the value of your real estate.
We’re not just talking about planting several flower beds in front of your home or mowing your lawn on a regular basis. What we also have in mind is a modernization of your home’s driveway.
You can approach this project by investing in better outdoor lighting (preferably LED). In this way, you’re not only investing in your home’s appeal but its security, as well. Think about it, better visibility at night means less cover for a potential burglar, which is a huge plus on its own. Moreover, getting a Wi-Fi sprinkler system can be a deal breaker for a lot of people.
Greener Is More Desirable
The ability to say that your home is Eco-friendly goes beyond a mere boost to conscience or earth-awareness, it’s also about the savings in the long-run. A single LED light bulb uses about 6 times less power to generate the same amount of light as its incandescent counterpart. This means that it costs you six times less and this same principle can be applied to most other accessories you own.
On the other hand, not all green trends are cost-efficient or even great for your resale value. Depending on your area and available government grants, you should understand that installing solar panels, as great as it may sound, may not be worth it.
The cost of this project can go as high as $17,000 which takes 7 to 20 years to pay off on its own. In other words, the increase in the value of your home won’t surpass this figure, which is why you would be at a loss. Those who intend to sell their home further down the line (in several years), however, might look at a different situation ROI-wise.
Add a Room
Another thing you need to consider is engaging in a minor construction project that will allow you to add a room to your home. The price of your home gets affected by its square footage, however, the ratio at which your home’s value grows with size is not exactly 1:1.
Apart from having a greater actual price, bigger homes are more appealing, thus giving the potential buyer an additional reason to purchase the place. Moreover, by investing a bit in your porch, backyard deck area or basement, you can increase the amount of living space that your home has to offer. This too might appeal to the buyer.
Speaking of time-efficiency, smart technology (like the above-discussed sprinkler system) is also something that can be installed on a short notice and give your home an immediate boost in appeal. Here, your options range from installing a smart lock and surveillance system to getting a smart thermostat.
Seeing as how each of these modernization efforts also makes your home’s maintenance a bit more frugal, most of these ideas could also be classified as Eco-friendly updates. In other words, it boosts the living standard, the budget friendliness and the overall value of your home.
At the end of the day, it’s more than clear that the appeal of these home remodelling ideas isn’t just in your home’s price but in your ability to sell the home on a short notice, as well. This too poses a financial boost since time is money. The sooner you can resolve the issue of your real estate for sale, the sooner you can get all the ads down and the sooner you can stop investing in making your home presentable for potential buyers. You would be surprised just how expensive can this last part become over a long period of time.