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Every homeowner knows about the value of a home and how it affects its success on the market. If you plan to sell your home in the future, it is important to understand what a home’s value is and how to improve it to ensure you get the most out of your sale.
Owning a home provides you with the opportunity to build wealth with appreciation, however, it is important to keep in mind that the market is ever-changing. It is impossible to predict what the real estate market will look like in the future, so increasing the value of your home will help you sell, regardless of the market conditions.
Why You Should Care About Increasing Value
Most homeowners do not live in the same home for their entire lives. According to the National Association of Realtors, Americans tend to live in their homes for about 13 years before moving.
If you are a homeowner, this means that you will likely sell your home at some point in the future, and when you do, you will want to get as much money back on your investment as possible. By increasing the value of your home, you are more likely to earn a profit from the sale.
Additionally, increasing the value of your home provides protection against unfavorable market conditions and provides more stability within the success of your sale. Not only will you earn a profit from the sale, but your home is much more likely to sell and sell quickly.
How to Increase Your Home’s Value
There are several ways to increase your home’s value. Essentially, anything that improves the overall look or functionality of your home will provide more value.
Consulting with a real estate professional or a home stager can help you determine the most cost-efficient ways to increase your home’s value.
Here are five ways to increase the value of your home.
1. Home Staging
While this isn’t something you can do until your home is on the market, home staging is the number one way to showcase your home’s value. Staging highlights key features of the home with expert interior design and allows potential buyers to envision themselves living in the space. This often leads to homes selling quickly and for over the listing price.
2. Curb Appeal
First impressions are important, meaning that potential buyers need to be impressed when they first arrive at the house. Investing in the curb appeal of your home will bring them inside, wanting to see more.
Make sure the home is painted nicely and the landscaping is clean and simple. Paint the house a neutral color with trim, and plant native shrubs and flowers in the yard.
3. Remodels
Remodeling will increase your home’s value dramatically, but that doesn’t mean you need to flip the entire house to do so. Small updates like painting, new flooring, or new fixtures will improve your home without too much time or money.
When remodeling your home, it is important to make sure the style is modern and updated, while still being timeless. This ensures your home is appealing to all types of potential buyers
4. Energy Efficiency
Sustainability is more important than ever before to buyers. Energy-efficient homes are more likely to sell for a higher price and will save the buyer money in the long run.
According to the NAR Research Group’s 2019 Home Buyers and Sellers Generational Trends Report, the most valuable environmentally-friendly features are:
Heating and cooling
Windows, doors, and siding installations
Energy-efficient lighting
Energy-efficient appliances
Landscaping for energy conservation
Solar panels
5. Systems and Appliances
The appearance of the home will attract interested buyers, but the functionality of the home will close the sale. Having updated systems and appliances are incredibly important to your home’s value.
Have your home inspected to see what issues are going on and how to fix them? Time is of the essence, so focus on the bigger, pressing issue first, and then move on to minor updates and repairs.
Investing time, money, and effort into your home’s value will make a massive difference when it comes time to put it on the market. You are more likely to have more potential buyers, make a quick and easy sale, and come out of it with a profit.
For help with your real estate needs, contact us today. We can assist you with developing a strategy to increase the value of your home and get the most out of your sale.
