Increasing the Market Value of Your Home

Are you looking to increase the market value of your home? While some repairs and home improvement projects may bring a certain return on your investment when you resell, the truth is that most remodels will not earn a return of every dollar spent. The number one mistake that many people make when improving their homes for resale is going overboard. You don't want to end up owing your lender more money than you can get for your house when you sell it.

Putting in a bit of extra effort can go a long way toward the deposit of more money in your bank account at closing. Fortunately, the things that people notice most often don't cost a lot. Playing up the curb appeal of your home is one of the easiest and most affordable ways to increase the value of your home, yet homeowners frequently neglect the outside appearance of their home.

Adding some new greenery or colorful flowering plants can make all the difference. Low voltage lighting along walkways or strategically placed among shrubbery can add another warm touch. One of the best advantages of landscaping projects is that it allows you to invest the amount of time and money that you can afford.

No matter what projects you might choose to enhance your home's curb appeal, the goal is to motivate potential buyers. It will not matter what kind of improvements you make to the inside of your home if you can't get buyers through the front door.

Speaking of front doors, it never hurts to apply a new coat of paint on the entryway to your home. Hanging an attractive door wreath is another easy way to dress up the entrance. However, a broken doorbell or chime can be a definite turn off, as well as an overall neglected look. Power washing the outside of the house can help to give it a clean, fresh appearance.

As simple as it might sound, oftentimes making some basic repairs and minor home improvements will pay off more in the end than investing in major and expensive renovations. Making the right first impression really does count and can make or break the opportunity for a sale. Fortunately, there are many affordable ways to make your home more sellable.

A fresh coat of paint on walls, trim, and doorways can make the inside of your home appear more attractive to potential buyers, which could result in a quicker sale. Walls and floors usually are among the first things that people notice after entering a home. Moreover, the last thing they want to see are dirty walls blemished with scratches and holes.

It also makes sense to select neutral paint colors. Neutrals blend with anything, and can make a room look larger. Neutral colors also fit different styles from traditional to contemporary, giving potential homebuyers more flexibility to add furnishings and decorative accents that will reflect their own tastes.

When it comes to preparing your home for resale, forget about elaborate projects like adding a deck, sun room or whirl pool tub, or for that matter, even refinishing a basement. More often than not, the average payback for these kinds of projects is less than 50% of the total costs incurred. You can expect to lose a good chunk of the money invested before you even place your home on the market.

Another practical tip to remember is that it never is a good idea to remodel your home to a point that makes it the most expensive house in the neighborhood. The key to making a healthy sale is being able to recover as much of your costs as possible. Some of the most lavish home improvements may add very little to the basic value of your home.

On the other hand, homebuyers typically shy away from homes, which require major repairs. As the seller, you should invest your time and money on projects that people will notice. Be advised that potential buyers might not ask to inspect the thickness of the insulation in the attic area, as most will expect the home already to be insulated, and therefore, not be willing to pay more for it.

So how do you catch a buyer's eye? Presenting a well maintained home is a definite selling point. Improving the appeal of your home before that first open house is a crucial step. Giving your house a thorough cleaning from top to bottom and from inside out can help to give it a fresh, inviting look. In other words, get rid of the clutter! Organizing the closets is another smart move. If you have to, store seasonal clothing in order to make the closets look larger and more spacious.

Carpets and floors are another relatively easy fix. Carpets should be shampooed and free of pet and tobacco odors. Gleaming kitchen and bathroom flooring typically attract people's attention. It's always a good idea to repair any damaged tiles or wood floors to give them a well maintained look.

Although most buyers look for updated kitchens and bathrooms, if your pocketbook is slim, painting kitchen cabinets and purchasing new, quality hardware may do the trick without the expensive cost of a complete remodel. Even simple cosmetic improvements have the potential to yield a greater return than the money you spend.

Bathroom remodels help to sell homes, too, often bringing in more money than other major home additions. Again, if you can't afford a total remodel, merely installing new vinyl flooring and re-caulking around bathtubs and showers can make the biggest difference when it comes to attracting buyers. Replacing dated fixtures is another wise investment.

However, no matter what improvements you might make, making your home stand out from the rest can put money in your pocket when you sell. Keep in mind that the goal of any home improvement is to help sell the property fast.

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