5 Ways to Increase Your Home's Value

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    Imagine this picture... You're considering selling your home in the next year or two. You have a nice home, but you feel like you should do some work to it before selling. Your goal is to sell your home for as much as possible. What do you do?

    I'm going to share the 5 things that you can do to your home to increase value.

    Before we get to the list, I want to make a key point that most sellers miss, and it costs them thousands.

    Many of the upgrades that homeowners do before selling their home fall into one of two categories. First is that the upgrades they do don't add any value to the home. Second is that the upgrades they choose cost more than the value they add.

    The goal of this post is to share with you the best 'bang for your buck' in upgrades. It will come with an idea of cost and an idea of how much value you add with each.

    Quick Note - If you want to get a professional opinion of your home's value, click here and fill out your info. Our team of local experts will put together a full market analysis for you.

    Here are the 5 best 'bang for your buck' upgrades to your home
    * These are in no particular order *

    1. Curb Appeal

    Coming in at number one is also one of the easier things to do on this list. Remember that first impressions matter. Curb appeal, whether you're a condo or a single-family home is crucial. This is everything that your potential buyer is going to see, smell, touch, and feel before entering your home.

    Imagine walking up to a home that has an odd odor as well as a mess in the front yard. Your opinion or expectation of that home has already decreased.

    Homeowners who upgrade curb appeal often do one of two things. Forget about it entirely or spend way too much money.

    Simple steps to level up your curb appeal:

        1. Declutter! Less is more
        2. Clean it out. Hiring a landscaper to remove dead plants will add more value than you think.
        3. Add some life/color. A few cheap flowers will go a long way. A water fountain or greenery can make a huge impact.

    Rough cost - $0 - $2,500
    Rough Value Add - $5,000+

    2. Paint, inside and out

    This is a topic that everyone already knows, yet it is often the hardest to get homeowners to do. Like curb appeal, if you walk up to a house that looks beat up and needs to paint, buyers will start looking for problems.

    Neutral colors are important. Unless you're a designer or you have a professional recommend adding a true color, stick to the basics. This goes for both inside and out.

    Most people see white as clean and fresh, while the rest see it as a blank slate. Either way, it's the best choice to avoid turning potential buyers off.

    Bonus: Painting baseboards and other trim pieces can make a room pop. This is also very inexpensive and removes years of "wear and tear."

    Painting is not something that every house needs, but here are examples of homes that need paint:

    • Dark interiors
    • Lack of natural light
    • Dark flooring/cabinetry
    • Older cabinetry

    Costs will depend on the size of the home, but here are the ranges:

    Rough Cost - $3,000 - $15,000
    Rough Value Add - $5,000 - $25,000

    3. Flooring

    This will likely make the biggest difference with home buyers. Changing flooring is not fun. Most buyers are not willing to do the work required to change flooring. This is why this is one of the biggest value add improvements you can make.

    Flooring costs will vary dramatically based on the price point of your home, so I'll give a few examples...

    Under $600k:
    Newer flooring, even carpet, will be a big bonus here. Most buyers buying in this price point are using a lot of their cash to buy the home. Large upgrades to things like flooring are often out of the question.

    $600k - $2m:
    LPV aka Luxury Plank Vinyl flooring is the new 'gold standard' when it comes to flooring. For the cost, it is hard to beat. There are also unlimited different styles to choose from.

    $2m+:
    will completely depend on the home. I definitely recommend chatting with one of our local experts before making any changes to your home. We can bring in one of our designers to help make that decision with you.

    Costs will differ based on size and material. Reach out and ask for an estimate if you're interested.

    4. Bathrooms

    This is another upgrade where most homeowners go way overboard on spending. When upgrading bathrooms, you should go with the affordable options for everything. New and/or refinished will bring a similar level of value than a full remodel.

    I'm not saying to skimp on bathrooms, but if you're going to spend money on a bathroom, it should be on the Primary Suite.

    Rough Costs - $5,000- $8,000
    Rough Value Add - $10,000-$15,000

    5. Fixtures and Lighting

    Often overlooked are the easiest upgrades you can do to a home. Upgrading fixtures isn't free, but it is the easiest way to increase value at little cost.

    Make sure that your look and feel is consistent throughout the home. You often don't need to buy high-end fixtures to increase the perceived value. Buyers don't get on a ladder to look at a light fixture to see if it's from Target or RH.

    Now, if you're selling a luxury home, you do need to consider the quality of the fixtures. Again, contact a local expert, and we will point you in the right direction. This isn't something to guess on.

    It really is incredible what making a home new and consistent will do to the buyer's opinion of the value.

    Rough Cost - $250 - $1,000
    Rough Value Add - $5,000 - $10,000

    Bonus 6 & 7:

    Primary Suite & Kitchen. If you're going to be spending money on a full renovation, these are the two most important areas. If you only upgraded these two spots, it would make the biggest impact.

    I didn't include these on the list because these are the least common upgrades done before the sale. If you have a full renovation budget, make sure to make these two areas perfect. However, if you don't want to spend all the money, numbers 1-5 will add a ton of value.

    If you want an expert's opinion of what to do with your home, we're here to offer a complimentary walk-through.

    Step One: Go to our website and plug in your address & information. Once you do that, you'll get an estimated home value.

    Step Two: When our local expert reaches out, schedule the time for them to come do a walkthrough.

    Within 48 hours, we will have a full market analysis of your home. We will be able to give you a current value, as well as a value if you did the various upgrades mentioned in the consultation.

    If you're thinking out selling in the next year or two, this is definitely something I would recommend doing sooner than later.

    PS - Track your home's value here, we will send you an update every month with any changes.

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