5 Ways to Maximize Home Value When You Sell Your Home
When it’s time to sell your home, you want to squeeze every last drop of value out of it before you go. Although there are several variables to your home value that are totally outside of your control, there are things you can do to maximize your home value. We’re going to look at 5 of the most effective ways to raise your home’s value without breaking the bank.
None of these tips are going to call for a sledgehammer or a massive construction crew. These are tips that virtually anyone can employ with a modest budget. While some may call for contractors, you shouldn’t need to spend more than a month on any of these projects, and the return on your investment will be worth it.
1. Boost Your Home Square Footage
The best way to increase your home’s value is to add more home! The basis for home value is always determined by the average square foot price in your neighborhood. You might think your home size is finite and unchangeable, but there are ways you can create more useful spaces.
Unfinished Spaces
If you have an unfinished basement, you should strongly consider finishing it. This simple change can greatly increase the amount of usable space in the house. Drywall and carpeting are often all you need. This is a great way to boost your home square footage.
The garage is often overlooked as well. Simply applying a floor treatment to the garage can make it sparkle and impress. Installing a proper counter and sink can make for a useful workspace.
Expansions
Adding on to your home is a tricky affair. You’ll need to pour more foundation and run new electrical circuits, at a bare minimum. This is usually a huge project, and we don’t recommend it.
Instead, look for ways to expand existing space. Can you knock out a wall to open up the floor plan? Can you expand the size of your deck to accommodate more activities outdoors?
2. Wait for the Right Time to Sell
One of the variables out of your control is the market. Although you can’t control it, you can decide whether or not to enter it. Of course, sometimes necessity forces your hand. But if you can wait for a better season, do so. Don’t sell yourself short out of frustration or just because you are itching for a new place.
3. Upgrade the Kitchen and Bathroom
Your kitchen and bathroom are some of the most profitable rooms to renovate. There are a few things you can do to enhance the attractiveness of these spaces.
Kitchen Upgrades
Upgrade appliances to energy-efficient ones. Not only will they save you money in the short term, but energy-conscious customers will appreciate your decision.
Cabinets can be refurbished or repainted to improve the overall look of the kitchen. Consider updating lighting fixtures as well. These simple changes can make the kitchen pop, especially if it’s visible from the foyer.