Maximizing Your Home’s Market Value Before Selling

Whether you’re a homeowner or a real estate investor, the main objective of any property investment is to maximize its value. This is especially important if you’re planning to put it on the market. From small improvements to larger renovations, there are many ways to add value and even attain turnkey status. In some cases, a few DIY projects could have a big impact on the final sale price. Here are some ways you can improve the look and feel of a home before selling.

1. Upgrade With Paint

If you’re looking for the most inexpensive improvement, paint could be your best friend. After all, paint retails for about $30 to $45 per gallon. Freshly painted rooms appear updated, modern and clean. However, not all hues aid in adding value. One thing to keep in mind is that neutral colors appeal to most homebuyers, such as whites, grays and off-whites. Neutral tones help homebuyers feel like they have a blank canvas to work with, which may help boost the home’s value.

Color consistency is also key. Be sure to keep the color scheme the same throughout the home to help buyers envision their furniture in each room. For example, if a room is painted pink and purple, it may be hard for a buyer to envision it as his or her potential office. You may even want to add a splash of color to the front door to boost the property’s curb appeal. According to recent research, homes with a glossy black coat of paint on the front door can sell for up to $6,000 more than similar properties.

2. Revamp the Kitchen

The kitchen is one of the main living spaces in a home, and buyers take note of everything from appliances and cabinets to the countertops. Modernizing these items could help you gain a large return. If there’s no room in your budget for expensive updates — such as installing granite countertops — consider some low-cost fixes. These include swapping handles and hinges, adding a new backsplash, repainting the cabinets or replacing the light fixtures.

3. Get Cleaning and Organizing

 Did you know a thorough, deep cleaning can help boost your property’s aesthetic and overall value? This approach is economical but requires time and physical effort. Consider pressure-washing the home’s exterior and patio to blast away any dirt, grime and mildew. This can help make the property look and feel refreshed.

Don’t forget to clean the interior of the house, too. If you’re a homeowner who is still living at the residence, be sure to organize any clutter before showings. Dust cobwebs from ceilings, clean underneath furniture and wash the windows. Alternatively, you may want to consider hiring a cleaning service to do the dirty work and make the home sparkle. This can also help eliminate any strange smells — such as cigarette smoke or pet odors — which can be off-putting to potential buyers.

4. Fix the Roof

The structure of a property is as important as its aesthetics. Buyers want the home they purchase to last and may inquire about the roof. For this reason, you might want to replace any damaged or missing shingles. If the roof is deteriorating, it may have to be completely replaced. While this can be costly, it could help curb fears of water damage, pest infestations and ice dams. While you’re at it, inspect the gutters to ensure they’re in good condition as well.

Taking on these improvements one task at a time can help you get the best possible selling price for your property. Consider doing some research on your area to find out how much the house could be worth after the renovations to ensure you’re making sound improvement decisions.

Author Bio: Chris Buenz is owner of First Fence Company in Chicago, Illinois. With more than 18 years of experience in both fencing and sales, Buenz is well-versed in the Chicago-area business market.

Resources: https://www.slideshare.net/FirstFenceCompany/how-to-increase-curb-appeal-when-selling-your-home
https://www.hgtv.com/design/remodel/interior-remodel/30-tips-for-increasing-your-homes-value
https://www.consumerreports.org/home-improvement/8-ways-to-boost-your-home-value/
https://www.localagentfinder.com.au/blog/top-ten-tips-to-increase-your-homes-value-before-selling/