Homes are large treasure chests that house a life’s worth of memories, and for people who have spent a long time living in one, they can see most if not all the good things that come with it.
Consequently, homeowners find it hard to recognize why their homes are taking way too long to sell and isn’t attracting potential buyers. At times, when an offer comes, and it is not quite what you expect, it is easy to think that other people are just out to lowball you.
However, a couple of similar offers can lead you to a valuable insight: When offers are not too far from each other and are in the same range, maybe it is time to do a double-take and realize that perhaps your home isn’t worth as much as you thought it would be.
Luckily, it is easy to connect with an appraiser to get an accurate value, as well as pointers on what improvements can increase the value of your house. While repairs are a sure-fire way to increase the value of your home, you don’t have to do all of them. Instead, focus on the repairs that are worth the time, money, and effort that will have the biggest impact on your house’s value.
Improve the Exterior
The Balance states that the home improvements that garnered the best returns were the ones that involved exterior remodeling, and this shouldn’t come as a surprise. After all, your house’s exterior is the first thing that potential buyers see, whether they’re just driving around the neighborhood or looking at your house on a multiple listing service (MLS).
Although it’s not guaranteed to convince them to buy your house, it will definitely improve whatever feelings they have about the property and encourage them to explore it further.
If there’s anything that potential buyers pay close attention to, it’s the kitchen. A great kitchen can easily overshadow any not-so-likable aspects of your home.
In our article on ‘4 Improvements That Increase House Value’, we discussed simple improvements such as refacing your cabinets and updating finishes in your kitchen that can provide you with the biggest returns and increase the value of your home
Aside from kitchens, bathrooms are also some of the bigger selling points in houses. For most people, bathrooms also serve as spaces where they can dedicate a few minutes to themselves.
Forbes suggests that bathrooms as well as kitchens are the most frequented spaces in a house. Therefore, it pays to update them and make them more appealing to buyers. Simply adding vanity mirrors, adjusting lights, and updating small fixtures can go a long way when updating a bathroom.
A new coat of paint is probably the cheapest thing you could do; yet it has a greater impact on your home’s value than you might think. USA Today claims that freshly painted walls not only lighten rooms, they also hide visual defects and make the room look cleaner and fresher.
In picking a color, go for a more neutral shade that will appeal to a larger number of people.
Increase Living Space
If you have a basement or deck that you don’t use or haven’t maintained, it pays to fix them before trying to sell your house. Real Simple outlines that these improvements will provide more livable square-footage that will definitely increase your home’s value. You can also increase livable space by opening up the floor plan and removing some walls.
As mentioned in our blog post ‘How to Get Rid of a House that Won’t Sell’, you might consider taking out a new mortgage or refinancing your house just to afford major repairs – but this is something you’d need to speak to a financial adviser about, as there are just too many options to choose from. A guide by Marcus on how to get a loan explains that many homeowners may qualify for an unsecured personal loan, which can be used on anything from home repairs to consolidating debt. In the end, it all depends on how many repairs you want to do, and what your financial situation is already like, but it’s best to have a clear plan for the repairs so you know just how much you’ll need.
Of course, if repairs seem like too much work and all you really want to do is get rid of your house, it might also be worth looking into selling your home to a home buyer instead. Home buyers purchase houses as is for cash, meaning you don’t have to make your house move-in ready before selling to them, making them the perfect choice for a quick turnover. Contact us to learn more about What We Do and how Big State Home Buyers can help you sell your house.
Written by Louise Baker
Exclusively for bigstatehomebuyers.com