Home investments can be quite costly at times. When you are looking to put your house on the market, it is important to know what areas will have a higher return-on-investment. Putting money into projects that do not help the resale value or increase the chances of selling your home can be a waste of valuable time and money. You need to remember, when selling a property, do not take things personally. By that, we mean, tailor your home for what will help it sell the quickest and for the best price on the market today.
Tailor to the Market
Selling your home means you cannot personalize it anymore. Instead, it is time to tailor your home to the market’s needs. Look at homes selling in your area. See what they are selling for and what key features make their homes more valuable. You will begin to notice patterns with the more research you do. Perhaps you notice no two-bedroom homes are selling in your areas, but three bedrooms are moving very rapidly off the market. You may want to convert a room in your home to provide an extra bedroom. Additionally, you may also notice homes with solid hardwood floors have a more respectable pricing bracket. Perhaps also granite countertops homes sell for more money. Look at the cost of completing these projects and weigh out the return-on-investment.
Typically, you will want your home to be up-to-date. If you are making an investment by renovating a home, put the money to good use by using it in outdated areas. For example, if your kitchen appliances or bathrooms need to be finished, consider minor remodels. Since these can be costly projects, try to look for the most cost-effective ways to get these rooms up-to-date. Also, consider that the homebuyer may change out your preferences later, especially if you take a more cost-effective route. You want your home to offer them a move-in-ready appeal with no lingering projects.
Homes with a neutral color palette will typically move quicker in the marketplace. While you may love your turquoise bedroom walls and yellow backsplash, this may not be the case for your buyers. Buyers and investors want a home to be move-in ready. They do not want to consider what modifications and home improvement projects they will need to tackle right off the bat. Instead, try to make your home neutral throughout using beiges, whites, greys, and tans. These colors will work with almost any theme that the buyer is looking to put into their home.
You may also want to make rooms look more spacious for open houses by putting extra furniture in storage units. A living room with a minimalistic approach can feel more adaptable than a tastefully done eclectic-style den. While your style may be beautiful, it is crucial to make the space feel large and neutral.
With these investments in mind, you can start to modify your home for resale purposes. Start by writing down the cost of investments. Do your homework and find out the pricing of changing your property. Discover the return-on0investments and what is right for you.