Joseph Boyd's Blog
Choosing what to upgrade or fix in, on or around your home can be a complicated process. Changes fall into two categories – things that increase or decrease value (or sale price) and things that increase or decrease salability (or how willing people are to pay full price for it). Before you start swapping out all the pieces of your home for new ones, determine whether you actually need to make those changes. Any change you make should either add something that adds value or replace something that needs fixing.
Adding Living Space
One of the most foolproof ways to add value to your home is to increase the living space, up to a point. If you have a 1-bathroom home, adding another bathroom definitely will increase the value, same with adding a bedroom to a 1- to 3-bedroom house.
It's essential to understand the difference between adding something to increase value and fixing something to bring back the value that has been lost. For example, fixing the roof doesn't add any value to the home. However, it does negate the devaluing caused by a leaky, old or otherwise poor roof. The same goes for landscaping. With a few exceptions, you can't truly add value to your home by updating or fixing the landscaping. You merely bring back any value lost from previously deteriorating land. This is not to say that these things aren't necessary; they are. It's just important to understand that they bring your property from 80% to 100%, instead of from 100% to 120%.
What to Avoid
If the home has a working kitchen and bathrooms without any significant problems, that are on par with other homes in your neighborhood, you are best off just leaving them alone. Your buyer will likely have different taste than you. That means they're probably looking at your brand-new kitchen and pricing just how much it will be to rip it all out and replace it with their brand-new kitchen. If you lose out on buyers who wanted the slightly lower price of your home without the cost of your new kitchen, you’ll lose out overall.
Before you start dropping big money on changing things in your home that are just fine as they are, get a professional opinion. Real estate professionals are intimately familiar with the best sales features in your area, so take their words to heart.
Ready to start a successful home selling journey? To achieve your house selling goals, you'll want to prepare as much as possible. Lucky for you, we're here to teach you about the home selling journey so you can enjoy an unforgettable property selling experience.
Now, let's take a look at three tips to help you kick off a successful home selling journey.
1. Identify Your Home's Strengths and Weaknesses
Your home has served you well for many years, but it may be far from perfect. Fortunately, you can allocate time and resources to analyze your house's weaknesses and transform them into strengths.
Oftentimes, it is beneficial to conduct a home inspection before you list a residence. A home inspection enables you to receive expert insights into your house's condition. Then, you can use a home inspection report to prioritize property upgrades.
You may want to conduct an appraisal prior to adding your house to the real estate market as well. By performing an appraisal, you can receive a property valuation that you can use to establish a competitive initial asking price for your home.
2. Enhance Your Home's Appearance
Curb appeal is key, particularly for a house seller who wants to speed up the property selling journey. If you mow the lawn, trim the hedges and perform other home exterior upgrades, you can improve your residence's curb appeal in no time at all.
Don't forget to remove clutter from inside your house too. Remember, your goal as a home seller is to make it easy for buyers to envision what life may be like if they purchase your house. If your home is neat and tidy, it may be simple for buyers to fall in love with your residence as soon as they walk through the front door.
3. Collaborate with a Real Estate Agent
If you are unsure about how to price your home, how to promote your residence to buyers or how to complete myriad house selling tasks, there is no need to worry. In fact, you can hire a real estate agent who will do whatever it takes to help you succeed throughout the property selling journey.
A real estate agent understands what it takes to sell a home in any city or town, at any time. As such, he or she will go the extra mile to ensure you can achieve the best-possible results.
For example, if you want to sell your home as quickly as possible, a real estate agent will craft a house selling strategy that allows you to do just that. On the other hand, if you want to optimize the earnings from your house sale, a real estate agent will handle negotiations with buyers so you can get the best price for your home.
Let's face it – selling a home can be challenging, especially for those who are unsure about how to navigate the real estate market. Thanks to the aforementioned tips, you can quickly and effortlessly begin the home selling journey. And as a result, you can move one step closer to enjoying a fast, profitable house selling experience.
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