There’s cash in your walls! The median price of homes sold in the United States is $454,900.
But there is no guarantee that you can sell your home for that amount of money. If you want to make half a million dollars, you need to figure out how to increase home value. The key is to complete a few simple tasks.
What should you do before you start the selling process? What home improvements can you add at low expenses? How can you encourage people to tour your property?
Answer these questions and you can have a lucrative home sale in less time than you think. Here is your comprehensive guide.
Clean Your Home
Cleaning your home is the first step in the selling process. It helps you determine how many home improvements you need to make, and it creates a more comfortable space for guests at your open house.
Do as much of the cleaning as you can by yourself. Vacuum the floors, move items on the ground into containers, and repair your damaged carpets. Polish your countertops and install new ones if your old ones are wearing down or out-of-date.
If you have items you don’t need anymore, put them in stacks or containers so you can get rid of them easily. Sort them based on type. Items that no one can make use of should be thrown away while items that others may want to buy should be sold or donated.
You should clean your home again in the days before an open house or tour. You can leave clothes in your dresser or books on a shelf, as they let your guests see how they can make use of your space. But remove any personal objects like photographs and heirlooms as well as anything that might be stolen.
Add Livable Square Feet
Many homes are valued based on how many livable square feet they have. The more square feet you have, the more money you can sell your home for.
If you have time and money, you can add a mother-in-law suite. If you have a buildable lot in your backyard, you can build a separate structure there. You can also add an addition to your garage or to the side of your house.
If you want a smaller project, you can add a laundry room or bedroom to your home. You can convert a large closet into another room, though the closet needs to be big enough for furniture and other accessories.
Talk to a renovator about how you can increase the square footage. Try to get an estimate for the cost, then think about how you can sell your home for enough money that you make a profit. Homes with additions appeal to large families and people who have collections they need storage space for.
Finish Your Basement
If adding a new room or suite would cost too much money, you can turn your attention to your basement. Adding new carpeting and lights can make your basement seem more complete and livable. Even if you don’t use your basement, prospective homebuyers can get a sense of how they would use it.
Clean your basement and then invite someone who can inspect it. Check the foundation, walls, and ceiling for any signs of pests or water damage. Make the repairs you need, then talk to a basement specialist about improvements you can make.
Take photographs of your basement and put them in your real estate listing. Mention that you have added new features to make the basement seem more vibrant.
Insulate your pipes so they are less likely to freeze and break. You can wrap foam sleeves around them so they lose less heat during the winter.
If you have furniture or equipment in your basement, make sure there is enough room to move around everything. Two to three feet is usually enough, but you may need more if you have pipes hanging down from the ceiling.
Prioritize Your Kitchen
If you must pay attention to only one part of your home, you need to pay attention to your kitchen. The items there need to be usable for years to come, and the atmosphere needs to be inviting and comfortable.
Install three layers of lights with task lighting over work areas, including the stove. Keep plenty of shelves and cabinets so the next homeowner can store their ingredients and dishes. You can also add a new television so someone can watch shows as they cook.
An island in the center of the kitchen can be used for serving and eating food. You can also have a separate table for eating with enough room for several people.
If you have a little money to work with, you can add a premium faucet. You can keep it simple and buy a faucet with a single basin, but make sure it is not too deep.
Insulate your kitchen with fiberglass or stone wool. Target areas where you store food so drafts and outside temperatures do not cause your ingredients to spoil.
Increase Energy Efficiency
Making your home more energy efficient can increase its home value in several ways. People are willing to pay for homes that are environmentally friendly and have modern technology. You can increase the asking price and point out to potential buyers that they can save on their electricity bills over time.
An easy touch you can make is to add a new thermostat. Try to find a product that you can control on your phone.
You can also replace your old windows. Find new ones with glass that traps warm air inside your home. You can install weather strips as an extra layer of insulation and protection against rain and snow.
Replace your incandescent bulbs with LEDs, and install dimmers so you can control how much electricity you use. If you need additional lighting, open up the curtains and paint the walls white to allow light to bounce off the walls.
Maximize Curb Appeal
Curb appeal relates to the exterior condition of your property. People want homes that look good and fit well within their community.
At a minimum, you should paint the front of your home with a new coat of paint. Cover any areas where the walling materials have chipped or worn down. If the walls are not perfect around the base of your property, you can grow some plants to conceal the aberrations.
You should also create a good front walkway. If you use concrete or tiles, you should add new ones that are smooth.
The front yard should have even grass and vibrant flowers. If you don’t have plants in your front yard, you can plant a tree or grow herbs to show how your homebuyer can use the yard. To make a low-maintenance landscape, you should install drought-resistant plants like lavender.
Add new exterior doors, including your garage door. You can select any materials you want, but make sure they match the overall style of your property. If you have a rustic home, wooden doors tend to work well.
Delaying roof repair can be dangerous in several ways, and it can hurt your curb appeal. Prioritize installing or replacing your roof so you avoid dangers.
Improve the Air Quality
The interior air quality is one of the most underrated parts of your home. People want to breathe air that has no odors or allergens.
Hire someone who can test your indoor air quality for you. If your air quality is high, you can take small steps to increase it like replacing your carpets.
If the quality is low, you should consider installing a new HVAC system to remove substances in the air. You can also cut down on odors by growing flowers in your home.
If you already have an HVAC system, you can make adjustments to it. Replace the filters so air can pass through your ducts easier. Scrub the vents so hair and leaves are not stuck inside.
Pollen can slip through your windows and enter your air conditioning vents. Cut your grass down so it produces less pollen and install screens on your windows to catch pollen as it circulates through the air.
Remove Dated Elements
Features you have had in your home for years may no longer be in style. Popcorn ceilings can seem old and chipped, so you should install a new smooth ceiling. Have your ceiling checked before someone replaces it, as it may have asbestos in it.
Shag carpeting can also seem out-of-date and be hard to clean. Try to find a low-pile carpet with the same color.
Many decoration trends have passed quickly. Word art, mason jars, and fake fruit are no longer in vogue. Try to find decorations that stand the test of time like landscape paintings.
To avoid your home becoming out-of-date, have a blend of materials and colors in your home. This can make every room stand out, and it can give prospective homeowners ideas if they need inspiration for interior design or renovation work.
Read a guide on what not to fix in a home so you don’t waste your time replacing everything. Repairing wear and tear is labor-intensive and expensive.
Write an Informative Listing
All of your efforts to increase your home value will come to nothing if you cannot attract a tenant pool to your home sale. Write a listing that describes all important features of your home, including the exterior. Describe what your neighborhood is like and how close your home is to essential services and tourist attractions.
Mention any features that help your home stand out. If you’ve added an addition, you should mention that addition, as it may not be common in your neighborhood. Include photographs so the prospective buyer can see for themselves what the feature is like.
Be transparent about any problems that your home has. Mention how you have solved those problems and give suggestions for how the homebuyer can keep your home spotless.
Add real estate words that grab people’s attention. People are willing to pay more for homes that are “well-landscaped” and “luxurious.”
Check your listing after it’s done and make sure that the sentences flow well and are written properly. Do not end each sentence with an exclamation mark, as this can make you seem desperate for attention.
Stage Your Property
Once you’ve made all of your finishing touches, you can stage your home. Arrange the items in each room so they’re visible to your guests from the doorway. Fill empty spaces on the walls with works of art or photographs so your rooms look more beautiful.
If you have a pet, you should remove it from the home. Keep it at a friend’s place while you are conducting open houses and remove any signs that you have a pet. A dog gate can be hard for your guests to step over.
You can launch open houses through online advertisements. Post about your open houses on your personal pages and reach out to realtors in your area who can tell their clients about your property.
While the open house is going on, you should be available to answer questions. If someone seems interested, give them your contact information and call them after the open house is done.
If you’re having difficulty finding people, you can sell your home as-is. You can receive cash and start the moving process sooner.
Take a Few Steps to Increase Home Value
Figuring out how to increase home value means figuring out a few things. You need to make your home stand out from the neighbors by adding new features and pieces of technology. Try to touch up your kitchen and basement.
Do not forget about your exterior and air quality. After you’ve done everything, give your home a deep clean. Then start marketing to homebuyers with detailed listings and open houses.
If you’re tired of waiting, look for cash offers on your home. Millennial Home Solutions buys properties in Texas. Contact us today.