The median price of existing homes in United States has risen to $252,800.
Rising real estate prices are important to more than just those that are in the market to sell their home. A strong real estate market can greatly impact our economy.
With it being such a competitive seller’s market, now is a good time to figure out what things you can do to separate your home from the competition.
More importantly, what are ways you can not only appeal to buyers but add value as well.
Click to check current mortgage rates.
Time to Declutter and Clean
An often overlooked, inexpensive way to yield a big return is from a thorough home cleaning.
We’ve all heard the saying that you only get one opportunity to make a good first impression. Rarely is this adage more relevant than when it comes to your home.
A sparkling clean home can be like a magnet for home buyers. There’s no such thing as a house that is too clean.
Before you can make your home glisten, however, it needs to be free of clutter and debris.
Just as dirt and grime can build up over time, as will clutter. A smart idea is to throw junk away instead of paying someone else to move it around.
Decluttering not only makes your home look cleaner, it also gives the appearance of having a bigger home. This is important because upgrading to a larger home is among the top reasons that people move.
Ridding your home of clutter is not only known to have positive effects on your psyche, but it can also help buyers to fully see the space they are getting. This can lead to them placing a higher value on that space.
Update the Kitchen and Bathrooms
According to experts, the two rooms that really sell the home are your kitchen and your bathrooms. As such, these are the rooms that would benefit most from even just minor renovations.
Unless they have set aside the budget for remodeling, home buyers typically prefer that the kitchen and bathrooms are “move-in ready”.
Even small renovations, such as replacing an old vanity or lighting fixture, can add a modern look and make a big difference in the appearance of an otherwise dated room.
Other ways to improve your kitchen and bathrooms without breaking your budget include:
- Adding or replacing your kitchen backsplash
- Installing a new showerhead
- Swapping out the toilet seat
- Paint the kitchen cabinets
- Replace cabinet hardware
- Re-grout or clean up the existing tile and grout
Fortunately, these minor, mostly “DIY” projects can be done quickly and easily and with little cost.
If you have the budget for it, replacing old cabinets and countertops can make a big difference to your home’s value to many would-be home buyers.
Don’t Neglect Curb Appeal
According to the National Association of Realtors, if a homebuyer likes what they see online, 63 percent of those same would-be buyers will drive by your home to have a closer look.
Your home’s landscaping is a commonly overlooked, and often undervalued, home-selling feature. It is the very first thing that a buyer will see when they pull up to your home. The exterior of the home should serve as the cover page to the photo album of what’s to come inside.
What’s the single best return on your investment?
Professional lawn care maintenance for one year is estimated to cost roughly $330. Realtors estimate the return for this at approximately $1000. That’s a return of 303%!
Can’t afford a landscaping crew, or you don’t have a year to wait for your lawn to come around? Try cleaning up overgrown or patchy lawns and outsized bushes. This can be a quick and low-cost fix but make a big difference in your home’s first impression.
Let There Be Light
Rarely will you find a homebuyer that is attracted to a home that has a dark, dingy feel to it.
A home’s interior lighting is often-overlooked, yet one of the easiest ways to bring life into a home.
There’s no better light than natural light. The vitamin D that is produced by sunlight not only warms us up, it affects our mood. Sunlight also has a way of making your home feel warm and cozy.
To maximize natural light, make sure that the areas outside of your windows are free of debris, including shrubs and branches.
Be sure to clean those windows. They should be spotless. Don’t underestimate the amount of natural light that may be lost due to dirty, neglected windows.
No more natural light to access? No worries. It may be time to replace some of those boring recessed lights.
Home stores have a wide array of chandeliers and other bright, modern, eye-catching light fixtures.
Whether you’re just wanting spruce up your home, or you’re getting ready to sell it, there are a number of great, inexpensive ways to add value to your home.