Blog Post

A Guide To Increasing Your Property Value

Homes for Sale LaBelle • Dec 16, 2020

Top 6 Ways to Increase Your Real Estate Value

Gray couch with blue accent pillows in a living room

Homes are great, not just to live in, but also as an investment. Home equity has been one of the best ways to increase your wealth for a few decades now. As a matter of fact, high property appreciation rates have enabled sellers to sell their houses for a profit of around 29% or $55K, compared to what they had paid for it.

Property appreciation rate can be quite tricky to calculate since it’s usually based on factors that are unpredictable, such as the supply and demand levels in your local housing market, and the inflation rate. It’s also quite difficult to predict when the market is at its peak, as most people hold on during periods of rapid appreciation. Many homebuyers also believe that they’ll spend at least 15 years in their houses. However, homebuyers generally sell their houses after around 9 years on average.

Are there any ways to improve property values instead of just waiting for time to work its appreciation magic? If you’re looking to sell your house for more dollars, here’s what you have to do:

Landscaping

There’s no doubt that greenery adds to the overall appeal of a house. However, it’s also important to be smart about the type of plants you have in your garden. Go for native or drought-resistant plants that don’t require much maintenance or water. You’ll find that this can save you more money and also help the environment more in the long run.


Increase Your Square Footage

A big house gets you more money when you sell it – this might seem pretty obvious at first. But wait, there’s more! Going by the latest figures, the median price per square foot of both small and big houses happens to be around $130. A big house commands a higher price on the market. It doesn’t matter that the bank appraiser won’t acknowledge the added space officially – the people interested in your house will definitely factor this into their decision.


Assess your house carefully. Are there any walls that can be knocked down to give an illusion of the place being much bigger than it is? Should you install a new bathroom in any location to reduce inconvenience? While you can add a new bedroom to make the house look bigger, increasing the living space of the house can also be done by renovating a deck or the basement.


Your property size has a dramatic effect on the value. However, it isn’t all about how much area the house has. Your prospective buyers should also have a feeling that the house is bigger than it actually is. Each room must be decorated and renovated specifically to achieve this effect. Instead of using heavy closed draperies, go for vertical shutters or blinds, which will let in more sunlight, thus making the room feel sunny, open, and bigger. You can also install a large mirror, which gives the illusion of having doubled the room’s space. Eliminate all clutter, old stuff, and unnecessary furniture from your rooms as well. A shelving unit can be added to an underutilized space where you can store all your clutter without letting it affect the room.


Repaint Your Walls and Ceilings

How does your ceiling look? Popcorn ceilings are notorious for causing a house to look outdated and unfashionable. If you want to change this up, you’ll need to spend some time painting it again to enhance its looks. Do note that older ceilings may sometimes contain asbestos, which has harmful health effects. Get your ceiling checked by a professional before undertaking this task.


A freshly painted room can make the house feel new and clean, which increases the property value immediately. Most people prefer homes with neutral colors, so ensure that you choose your paints wisely. A gallon of high-quality paint generally costs $25 or so, which means you can also purchase other high-quality painting equipment without burning a hole in your pocket.



Transform Your House into a Smart Home

These days, buyers are more and more interested in buying houses that come with tech-enabled features. You can install the following smart products in your house to attract prospective homebuyers who are looking for smart homes: smart lighting systems, locks, cameras, carbon monoxide detectors, fire detectors, and thermostats.


Installing all these devices should only cost you one grand, which is a lot less expensive compared to a bathroom or roof renovation.


Eliminate Future Maintenance Worries

A lot of buyers have nightmares about their new homes turning into a high-maintenance property after the sale. Replace major components like the roof, the furnace, or the water heater, to assuage the worries of homebuyers who are concerned about the chances of an emergency repair. This can also help you increase your asking price.


Other simple improvements can also boost your home value significantly. Try installing low-maintenance vinyl siding or hardwood floors to reduce the level of maintenance required by the house.


Improving Your Property

Most renovations do not bump up property values significantly. How is it then, that people flip houses and earn decent profits? It’s clear – they purchase properties with clear defects, fix them up immediately, and relist them at a premium.


Does your house have a bad ceiling or carpet? Focus on that issue instead of worrying about the home’s garage door. Fix obvious, glaring flaws first to boost your property value faster as this will improve the quality of the house better than any random improvement.


Just picture yourself as a buyer walking into your house for the first time. Take a look at how your house looks from the outside and then check every room. You can also ask one of your friends to assess your house if you feel that your biases are too strong.


Looking for More Tips?

In this article, we’ve covered a list of simple ways, which can help you raise your property value. However, if you’re really serious about fixing every flaw and issue with the house to list your house at the maximum possible value, consult a trustworthy local Realtor. It’s crucial to ensure that they don’t pressurize you into making unnecessary renovations that only bump up your costs and not the valuation. Homes for Sale LaBelle is skilled in the art of increasing property values through simple and easy ways. 


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