Your home is probably the most expensive investment you will make in your life. With prices that usually sit well into the six figure mark, making that investment pay for itself is all the more important. If you let your home deteriorate, you won’t be able to fetch nearly the amount that you originally paid for it. However, through a few simple upgrades, you can boost the property value of your home and turn it into something you can flip for a tidy profit.
Open Up the Floor Plan
Having extra square-footage to work with is of paramount importance to home buyers, and an open floor plan helps with this. If you can’t build additions to increase floor space, one way to boost property value is by knocking down a few walls. If you can do so without compromising structural integrity, it is highly recommended you remove any walls between the kitchen and the living room. Letting these two spaces come together is a great way to get prospective buyers to shell out another couple thousand.
Speaking of the kitchen…
Modernize the Kitchen
Updating the kitchen to look more “modern” is another way to add to the value of a home. Investing in quartz countertops can work wonders, especially as compared to wood or natural stone. Quarts lends a clean, modern appearance to your kitchen while also being far easier and cheaper to maintain. Another material to look into for your appliances is stainless steel. The polished look of stainless steel helps lead to that “updated” look that the current generation of home buyers are looking for.
One fantastic way to boost property values is to update your home to cut on energy costs. It is very easy to sell somebody on paying another $10,000 for a house if they save $20,000 on energy costs over the lifetime. There are many ways to boost your home’s property value in this regard. The most obvious approach is installing solar panels, helping to cut down on the energy costs immensely. Even if you can’t afford that approach, there are simpler projects such as replacing light bulbs with LED lights and energy efficient windows.
Paint Walls in Neutral Colors
This is something you can wait on until you are ready to sell your home. Painting the walls in neutral colors makes it more attractive to buyers. This way, when touring the home they can more easily imagine it in a tone that fits their own personal style. It is also a whole lot easier to repaint walls with neutral colors than those with colors that stand out.
Take Care of Questionable Elements
If you’re planning on selling your house, think back to house guests you may have had recently. If any of them looked at something and said “what’s that?” or “what happened here?” then they are indicating something you might want to fix or get rid of before your first open house. Holes, cracks, or other seemingly minor and inconsequential damage that is enough to be noticed will drive down the value of your home significantly – and all for an issue that can generally be fixed.
On a related note: make sure your home has strong curb appeal. So when looking for things that may be off putting or questionable, take some time to look at your home from the curb and ask yourself “does this look like a home somebody would want to pay a lot for?” If the answer is no, then you have got some work to do!
These are just a few of the ways you can make your home more appealing to buyers and drive up the final sale price! Most of these efforts will more than pay for themselves in the final sale.