Real estate selling nowadays is not as profitable as it used to be. There are a lot of houses that went up for sale but stay in the market for a long time. This means that the seller has to either lower their price – or – a better alternative is home renovations.
This might not sound like a good idea, but it is. Making your home good sale appeal means you are going to have to make it more appealing. This way, you can keep the price you had in your mind and you will be able to get your house off the market in a shorter time. Now, don’t get too excited and start calling the demolition team to your home. It doesn’t have to be as big as bulldozing your house to the ground. Of course there is a perfectly good financial reasoning behind renovation.
Cost of materials is up so doing not destabilize your finances by making large renovations. Smaller, more affordable ways of making your home look better to prospective clients is the way to go. Small improvements can easily be recuperated from the sale price. More practical ways of improving the space you’re selling include cleaning it up, and adding more storage space.
Before prospective buyers come looking at your property, consider the following:
1. What does your bathroom look like?
The bathroom is one of the three most important places in a house. If your tiles have stains that cannot be taken out, consider replacing them. Does your toilet bowl look like it’s going to fall apart? Replace it. Check for leaks and have those repaired too.
2. What does your kitchen look like?
The kitchen is the other most important place in a house. Just imagine of you are scouting for a house and you see one you might like, then you go to the kitchen and can imagine cockroaches and filth in the corners, how would you like to prepare food there? Scrub the tiles, scrub the sink, and check for leaks, check for signs of pests. Fix it.
3. Can you add another bedroom?
The third of the most important parts of a house, the bedroom provides privacy that everyone needs. Adding a bedroom invites more prospective buyers to your home, since bigger families might be interested too.
4. Does your roof leak?
Dilapidated roof, ceilings, and sidings make your house look worn out and unkempt. A house in a sorry state will not look very enticing to clients and may lower the value of your property.
5. Can you add more closets or cupboards?
Storage is a must for any family. There are do it yourself closets and cabinets available and they do not cost that much.
6. Look at energy efficient fixtures.
These are more expensive, but you can increase the price of your home by tens of thousands of dollars. Look into solar panels or energy efficient windows.
7. Landscaping could be very advantageous.
Grass, flowers, shrubs and even trees will make the overall facade of your home more appealing. If you have a green thumb, go for it. If not, find a landscape artist that does not charge exorbitant fees.