5 Tips to Increase Your Home's Value
Jan 11, 2018
With the start of the new year, many people may be considering how to improve their home in hopes of selling it for the highest price. Fortunately for prospective sellers, Millennials have begun buying homes in full swing for the first time in years. According to the National Association of Realtors, the millennial generation is officially one of the biggest purchasers of real estate, boosting the prospects for anyone hoping to sell a home. Here are 5 tips that may help to increase your home’s value:
Hire a Professional Designer or Contractor for a Consultation
If you’re looking to get a head start on how to increase your home’s value, talk to a contractor or designer. They can visit and assess your home, consider your budget for improvements and provide a blueprint for changes you can make. Think of it as buying a turn-key instruction manual for increasing your home’s value!
Improve the Home Value by Improving Your "Curb Appeal"
Curb appeal—the attractiveness of your property when viewed from the street—represents your home’s first impression to potential buyers. Attractive curb appeal can drive up the selling price.
To ensure your home’s curb appeal is at its best, make sure the exterior of your home and the lawn are in top shape. From dressing up the front door, installing outdoor lighting, planting colorful flower beds, to a fresh coat of paint, there are plenty of ways to easily give your home’s curbside look an extra “wow” factor.
Create More Open Living Spaces
Gone are the days when buyers preferred having as many rooms as possible. People are now gravitating toward open, spacious floor plans. Find your non-structural walls – or perhaps an obstructive kitchen island – and remove them. The open flow is captivating for those who can afford to create their own aesthetic; exactly the type of buyers a seller wants to attract. For such a dramatic change to your home, it sometimes can be accomplished for a relatively small cost.
If you’re Renovating, Focus on the Bathrooms and Kitchen
Depending on your budget, even minor updates to these two spaces can dramatically affect your home’s appeal and value. If you don’t have the cash on hand for a full-out kitchen renovation, focus on swapping out individual items, such as a stainless steel sink or new microwave—to start adding value to your home. Additionally, even small updates to the bathroom—like replacing dated wallpaper or replacing old lighting—will make a big difference without denting your wallet.
And, if you are looking to take on a full renovation but don’t have the cash on hand, a renovation loan from Home Point Financial may be an appealing option.
Make Small Changes for Big Improvement
There are many inexpensive functionally and aesthetically pleasing features in a home that attract buyers. Consider replacing your old thermostat with a new smart home model, install a ceiling fan in the bedrooms, add a water filter to the kitchen sink, a closet system in the bedroom… buyers will appreciate the added value of these amenities, and they’ll add value to your home as well.
Improve Your Home’s Air Quality
Have you ever left on vacation, and came home to find your home has a certain smell? That’s how your home always smells—you’ve just gotten used to it. While this may be a subtle nuance, it may also be an indicator that your home may be hiding contaminants and allergens (possibly in your carpets). Ideally, you should hire a professional company to test your indoor air quality. If the results prove that your carpets should be replaced, choose environmentally friendly products like tile or laminate floors.
Are you ready to sell your home or considering a renovation? Already looking for your new home? Home Point Financial wants to help. We offer a variety of home loan programs that are perfect for giving homeowners the flexibility needed to make their homes as valuable as possible. There are low down payment options and reasonable credit requirements, so call us today at 888-616-6866, find your local branch, or click here to start a loan application.