5 Home Improvements To Raise Value Before Selling Your Home
Selling your home can be stressful, especially in today’s competitive real estate market. In an effort to stand out amidst the competition, many homeowners revert to making all sorts of home renovations to raise value before selling.
Mark Spain Real Estate specializes in maximizing the efficiency of your home selling experience to ensure you sell your home fast, and for the highest price possible. Accordingly, with research from the top real estate resources and decades of industry expertise, we’ve put together five of the most lucrative home improvements to raise your home’s value before you sell.
Home Improvements to Raise Value Before Selling
Enhance Your Curb Appeal
First impressions matter when it comes to selling your home. Most homebuyers know whether or not a house is a good fit for them within the first few minutes of their visit. Landscaping can play a major role in how your home appears at first sight, and a simple addition of fresh mulch, a pop of color, and clean surfaces will go a long way. Additionally, replacing existing entry doors with a steel door has shown to recover up to 91% at resale over the past several years. And don’t forget about your garage appearance. Replacing your garage doors is another great option to enhance your home’s curb appeal and recoup your investment at resale.
Add Physical Square Footage
Extra square footage is almost always a desirable item on a homebuyer’s list, as a vast majority of homebuyers cite “needing more space” as their number one motivating factor for moving. You can take advantage of this opportunity by finishing your basement or opening up the floor plan and knocking down a wall or two. By adding square footage to your home, you can move your home upwards to an entirely different price bracket. A finished basement, for instance, can add anywhere from $30,000 to $50,000 to the asking price of a $250,000 to $400,000 home.
Increase Your Home’s Efficiency
In today’s consumption-heavy society, energy efficiency is always much appreciated. Homebuyers have a tendency to pay a substantially higher price upfront if they believe they will save in the long run on utilities. Energy-efficient appliances, such as washers and dryers, refrigerators, dishwashers, and even toilets can help reduce long-term energy costs. These types of upgrades look wonderful to potential buyers and can significantly increase your home’s value before you sell.
Implement Demographic-Specific Upgrades
Knowing the specific demographics of your local housing market is essential to maximize your asking price. This is where the Exclusive Listing Consultants at Mark Spain Real Estate can come into play, as we’re extremely familiar with the trends in all of our markets. But by understanding what the homebuyers in your area are looking for, we can tailor your suggested renovations to cater to their wants. Millennials, for example, often look for smart home technology, such as Nest Thermostats, premium Wi-Fi, app-controlled lighting, or keyless entry.
Don’t Underestimate a Fresh Paint Job
As a cost-effective and simple renovation, adding a fresh coat of paint to areas that could use touching up is always recommended. This does not mean that you need to repaint the whole house, but start with highly trafficked areas, such as the kitchen, bathrooms, and master bedroom. Both the effort and the material costs for repainting are minimal, but you can often stand to gain a potential bump of around 2% on your overall asking price.
Mark Spain Real Estate leads the nation in closed transactions, and with over 5,000 5-star reviews, Mark Spain Real Estate is also the leading real estate team in the country in customer satisfaction. With over 25 years of experience, we understand the value of home renovations before selling your home. But whether you’re looking to sell your home, buy a home, or get a Guaranteed Offer on your home, Mark Spain Real Estate is here to help. Contact us today to get started or check us out on social media to see how we continue to deliver an unrivaled customer experience.