Thinking about listing your home for sale? If so, you've probably already started a to-do list of everything that needs to get done before your home hits the market.
Packing? Check. Cleaning? Check. Staging? Check.
When preparing to sell your home, the goal is to present the property in a way that gives a great first impression when viewed by potential buyers. Knowing the best ways to add value to your home has always been important – but never more so than in 2022, as house prices and mortgage rates continue to rise.
Before listing your home, you want to ensure that you have done all you can to increase the value before it goes on the market. From cleaning and decluttering to investing in a few home improvements, we're listing five ways you can increase your home's value.
- Upgrade your curb appeal
You know what they say about first impressions. Before putting your home on the market, you want to make sure your home conveys a nice, fresh first impression.
Enhancing the exterior of your home should definitely be on your to-do list of home updates. House hunters often make a decision about a home before they even get out of the car, so plan to spend some of your home improvement budget on boosting your home's curb appeal.
The condition of your yard, the exterior of your home, and the front porch can potentially determine someone's interest in viewing the inside of the house, so make your home stand out as soon as buyers pull into the driveway. From power washing the driveway windows to upgrading the landscaping to simple, inexpensive fixes like new hardware and a fresh welcome mat, improving curb appeal can make a big difference in your home's value.
- Clean and declutter
One of the first things you should do (and one of the easiest) to help boost the value of your home is reduce the amount of stuff inside your home. Cleaning out and decluttering are relatively inexpensive tasks.
Showcase your home by decluttering every room, including closets and cabinets. Start by packing away anything you don't need on a day-to-day basis (knickknacks, games, files, holiday decorations, clothes, etc.). Then, go through each room and clean out drawers and other storage areas, making donation piles and/or getting rid of items you don't need.
- Spruce things up with fresh paint
Every room should look its best prior to that first prospective buyer walking through the front door. One of the easiest and most cost-effective ways to improve the appearance of your home and increase its value is painting. Your home is more likely to sell with a fresh coat of paint, which is the very first thing buyers see. (Bonus: it's not that expensive, either.)
A fresh coat of paint can make your home's interior spaces look fresh and new, and experts suggest sticking with neutral colors, such as off-whites, beiges, grays, and "greige"—a blend of gray and beige. Neutral colors make it easier for potential buyers to imagine themselves living there because the paint goes with just about anything. (Tip: Try and avoid white, which can appear too stark.)
- Make your home more energy-efficient
Any kind of home update that lowers your utility bills is a smart and easy way to increase the value of your home.
Investments like this in home tech—particularly when related to the HVAC, which is the largest mechanical system in the home—provides a strong selling point and highlights the home's overall comfort, functionality, energy efficiency and convenience. Start by installing a smart thermostat. Not only will it allow you to control your home's climate and manage energy costs from anywhere (whether sitting on the couch or while away on vacation), but it also helps improve efficiency and save money. A win-win-win!
Other ways you can improve your home's efficiency and value include replacing old, leaky windows, installing energy-efficient home appliances, and adding insulation to your home. Keep in mind, though, that new windows and new appliances will be a much more expensive project.
- Add more square footage
Adding more living space to your home can make a lot of financial sense. Homes are valued and priced by the livable square feet they contain, so the more livable square feet, the better. According to a study for the National Association of Realtors, every 1,000 of square feet added to a home increases its sale price by at least 30%!
If you can add square footage to your home's footprint, you should start with a bedroom or bathroom—as they generate the greatest return on investment.
Before you begin any home improvement project, you should speak with one of our local Outer Banks real estate agents. They can help assess your property and make recommendations about which home improvements will make the most difference based on the market and preferences of local buyers. Contact Coastal NC Realty today!