Time to get in the Game
Great news for home sellers is that home sales look like they are heading up. A lot of Realtors© I know are very busy.
If you are selling your home, it is time to get in the game. The market is set for quicker sales and lower inventories of homes on the market. What I would like to do is give you some tips on getting a higher price for your home. Some of these tips will help you have a potential gain in your home price of tens of thousands of dollars.
Some upgrades on your home matter much more than others when you are selling. Of course you need to work with a Realtor© to stage your home, but that alone is not going to raise the price of your property substantially.
The main things that will raise the price of your home are:
- More Space in Your Home.
- Lower Maintenance Cost and Utility Bills.
- Curb Appeal – You Never Get a Second Chance at a First Impression.
Here are 4 things you can do to increase the value of your home substantially.
- Finish Your Basement – The finished square footage does matter. It matters a lot. If you have a home with an unfinished basement, you could easily sheet rock walls ceiling, add light fixtures, carpet the floors and turn it into a finished room. A finished basement can add a serious amount of value to your home. Adding the extra space that can be used as a home gym, bonus room, office or bedroom, will give your home an advantage of other similar home that do not have a finished basement.
- Turn a side office into a bedroom – If you have an office that is large enough for a bed, you should consider adding a closet and making it a bedroom. The difference between a two and three bedroom house is substantial. This can increase your asking price several thousand dollars. If you are planning on turning the extra space into a bedroom, you will need to make sure it is approved by local regulatory agencies. They may require windows that open and other things to be used as a bedroom. You will also want to update this with the Tax Assessor, so that it is recorded with the larger number of bedrooms. The pain of dealing with the government agency may yield many thousands to the value of your home. I have seen a 2 bedroom home that was valued at $350,000 increase to $425,000 just by adding a bedroom.
- Curb Appeal – The first impression is the most important aspect. It sets the mood for the home buyer. Improving the exterior of your home can mean tens of thousands in the asking price of your home. Drive around and look at houses. Identify houses that look great from the front and try and do the same with your home. Buyers are heavily influenced by what they see first. If you have a great interior, buyers will feel like they are settling if the outside is not great. Paint and landscaping can do a lot.
- A Good Roof – All buyers will check the roof. If yours looks bad, then many will stop looking and move on. No one wants a home that the roof looks like it may leak or fall in. A new roof is a great advertising feature.
I know that you are now saying, “That will cost me a lot of money”. What I am saying is that “you may have to spend a little to gain a lot.”