So you’ve decided to increase the value of your home. Fabulous! But it’s also a little intimidating, right? There are so many things that you need to consider to make sure that you do in fact, add value to the home rather than create more work for yourself and potential buyers. Before you choose a paint colour, plant a garden, or call a contractor these are things that you should think about.
MAKE A PLAN
Your first move should be to make a plan. Make a list of the things you would like to change and talk to a professional about it. If you are planning on selling soon, sit down with your realtor and create a selling plan. Definitely, discuss the return you may get on these investments. It’s great to want to install a hot tub in the backyard, but perhaps a dated bathroom on the main floor is a more critical and valuable update. Some improvements will add considerably more value than others.
CREATE A TIMELINE
We can all agree it’s easy to get excited about a new project and even easier to get sidetracked before completing a job. Whether it’s decluttering or a complete renovation of a room, the project will progress more smoothly if you are able to follow a schedule. Obviously, things will come up, and your schedule may change, but sticking to an organized plan of action will ensure that you won’t get overwhelmed, making sure that the project still seems achievable. Be realistic about your time, financial budget and skill level. Remember that a poorly executed renovation will add little to no value and be perceived by a potential buyer as something that they need to redo themselves.
Sometimes overlooked, curb appeal is very important. Look at your home from the street and be honest with yourself about where improvements can be made. Is the home structurally sound? Does it appear welcoming and inviting? Are there any areas in need of repair? Something as simple as painting the front door can make a world of difference. Remember that buyers walk all the way around the home when inspecting it, so take the time to clean up all areas of your home’s exterior.
UPGRADE THE KITCHEN
Ask any real estate expert, improvements in the kitchen add the most value. Kitchens get a lot of use, and thus, show wear. Makes sure to take note and repair or replace these areas. Complete remodels are expensive, so if this is not in your budget, consider a fresh coat of paint and new light fixtures. If you can, give the cabinetry a facelift with new stain or paint and updated hardware. If you can install new countertops, backsplash and appliances make sure you choose neutral finishes. Remember that not everyone has your taste. Pro tip: check out the latest interior decorating magazines and see what’s popular and use that as guidance.
REDO THE BATHROOMS
Bathrooms are second only to the kitchen. Nowadays, people want bathrooms to be more than functional. Choose finishes and fixtures that give the feeling of being at the spa; this neutral, relaxing aesthetic will always add value. Again, if it’s not in the budget to do a complete renovation, a fresh coat of paint, new light fixture, and stylish hardware will do the trick. Moisture can deteriorate ceilings and finishes and mold growth can be an issue. Be sure to keep these areas clean and in good repair.
CLEAN YOUR HOME
If your house is on the market, a spotless home is an absolute must. Buyers will be more attracted to your home if it’s tidy- dishes away, toilet seat down, vacuumed and decluttered. Don’t waste time and energy by just moving things around; throw away your junk (or put it in storage) and your home’s presentation will improve noticeably. Pay attention to the details- you want to show your home in the best light possible.
HIRE A PROFESSIONAL STAGER
It’s proven that having your home staged by a professional can substantially increase the selling price. Some realtors will provide this service when you sign a listing agreement, some don’t. Either way, it is most definitely worth the cost. Buyers need to see the home in it’s best light, so that they can (and want to) envision themselves living there. A professional stager has the experience to make the best use of the space. They may do some space planning with your existing furniture; rearranging it into a different configuration that you have not thought of before. A buyer is looking for a home that looks like a magazine.
Whatever stage you are at- you just moved in, you’ve been there a while, or you want to sell- increasing your home’s value is always a wise investment. Be sure to follow a plan and have the right people in your corner to help you achieve maximum success. Good luck!