Even if you’re not ready to move into a new neighborhood yet, selling your home is something you might want to prepare for. You may get a promotion, or you might be thinking of transferring to a larger home as your kids grow. Whichever the case, there’s always a good reason to seek a fresh start, and part of the process is knowing how to make the most of selling your current living space.
Regardless of how long you’ve stayed in your current home, you will want to know if you could get a good price for it on the market. Real estate appreciates over time, but some improvements could put more money on the negotiating table and allow you to build enough cash to upgrade to a larger, cozier home. As you wait for the perfect moment to put your home up for sale, here are a few tips that will add to its resale price later on.
1. Let the Exterior Shine
You might think that your home’s exterior serves a cosmetic purpose and hardly impacts its selling price, but focusing on the right curb appeal improvements could nudge your asking price by hundreds of dollars. This is mainly because motivated buyers are drawn to listings that look fresh and sophisticated. There are even buyers who are willing to place an offer right away on account of what they see in the listing photos and the initial home tour.
It’s for these reasons that you shouldn’t set aside effective curb appeal as an essential component of a pre-sale home improvement plan. A total overhaul may be expensive, but the project guarantees a high rate of return plus a reduction in the amount of time the property stays on the market. To get these benefits, start by painting your home with a fresh neutral coat. Go for colors like eggshell white and beige. You might also want to replace your front door and patch up damages on your roofing. Doing a bit of landscaping would also be a nice touch, especially if you want the property to appeal to high-end buyers.
2. Focus on Your Kitchen
It won’t help to assume that your home’s biggest selling point is the exterior. Great curb appeal can reel in motivated buyers, but they are more likely to get turned off by a subpar interior. Much of your home improvement budget should go towards refurbishing functional indoor areas.
The kitchen should be one of your top priorities if you want to get a good return upon selling your home. If you’re wondering how much the ROI of kitchen remodel activities is, minor improvements could guarantee more or less 90%, so long as you do the remodel right.
If you have room in your budget that lets you go beyond simple repairs and upgrades, consider replacing your cabinets with ones that are durable and consistent with the overall look and feel of the interior. It also helps if you could add a countertop or a center island in case the area doesn’t have one.
Another major draw is the presence of up-to-date appliances that consume less energy and possess features that increase comfort and convenience, such as a refrigerator with an ice maker and a stovetop. Upgrading the flooring can also complete the look of your kitchen, increasing its sellability.
3. Double Down on Outdoor Spaces
Going back to your home’s exterior, you may want to consider well-designed outdoor areas that could serve as perfect venues for simple get-togethers. A deck or patio is a good investment, depending on the climate of the neighborhood where you’re in. The best layouts and designs can be desirable among both younger buyers and retirees, so consider extending your home with a patio or deck that’s built from high-quality wood.
If you’re not into adding a patio or deck to your property, you can also set up a terrace that’s surrounded by fresh vegetation. Add features like a fire pit and warm lanterns that allow for a more intimate outdoor feel. A vertical garden or a living wall could also serve as an impressive addition to these spaces, thereby justifying a higher asking price to be matched by buyers who are willing to pay a premium for such amenities.
4. Never Neglect the Bedroom and Bathroom
Before listing your home or even contemplating selling it, you will need to make sure the other essential interior areas are properly prepped. The master bedroom is one such area you should mark for improvement. Consider adding storage units, such as cabinets and clothes racks for suits and dresses. You might also want to enlarge the windows to allow for optimal amounts of natural light to brighten up the interior and reduce energy costs on the side.
As you focus on the master bedroom, make sure to set aside time and money for a major bathroom revamp. For this, consider swapping your tiled floor for granite and luxury vinyl rolls that add a touch of sophistication to the area. While you’re at it, consider installing a rainfall shower and a large vanity mirror.
Endnote
As you start to think about moving to a new home and neighborhood, make sure you are getting the best deal on your current home. Consider these tips and use the time you have to make it market-ready.