The real estate market fluctuates all of the time. Currently, we’re in a “seller’s market,” thanks in large part to the COVID-19 pandemic. That means people are looking for homes and are eager to purchase.
If you’ve been thinking about selling your home, now could be a perfect time to do it. But, you can make the most out of your sale and boost your overall profit by increasing the value of your property.
You don’t have to be a handyman or contractor to maximize your home’s potential. Let’s take a look at a few tips and tricks you can use to increase its value and get more out of an upcoming sale.
Get “Smart” About Energy Efficiency
Smart homes are becoming increasingly popular and in-demand. You might not have the time or budget to completely renovate your home into a smart home. But, there are things you can do to boost its value and appeal, including upgrading to energy-efficient appliances. Consider changing out some of the items that tend to use the most electricity, including:
- Refrigerator
- Stove
- Microwave
- Washer/dryer
Installing a smart thermostat is another great option, as it allows you to regulate the temperature in your home based on when you’re there.
Energy-efficient and “smart” home items can save homeowners money, in the long run. But, the initial investment isn’t exactly cheap. You can budget for them using whatever technique works best for you. For example, put 20% of your income toward savings and the other 80% toward everything else. There are many different budgeting rules and methods for saving for big purchases, so find what works for you to make an initial investment. When you go to sell your home, you’ll get that money back.
Do More Outdoors
First impressions are important, even when it comes to selling your home. You can increase property value by adding some curb appeal to entice potential buyers. There are certain things that buyers tend to look for when it comes to outdoor features. People want to be able to see themselves spending time there and enjoying it.
So, consider planting trees, repainting or purchasing a new garage door, and adding a fence to the back of the house. These are fairly simple upgrades and changes that will add value to your home immediately, so you can set your listing price higher.
Even if you don’t have time to make major outdoor upgrades or additions, sprucing up your landscaping will make a big difference.
Home Staging
Recently, 22% of home sellers’ agents have said staging increased the dollar value offered by buyers from 1-5% compared to similar homes. That might not look like much, but depending on the price of your home, staging could help you bring in thousands of additional dollars.
You don’t need to spend a lot of extra money or have an interior design gene to make home staging work. Think about some changes and design options you would enjoy, and go with them. Chances are, others will enjoy them, too. Certain rooms may benefit more from staging, including:
- Living room
- Kitchen
- Master bedroom
- Dining room
When people can see themselves enjoying those spaces, they’re more likely to make an offer. So, get creative with your staging and have fun designing something buyers will love.
There are so many additional tips and tricks you can use to increase the value of your property. But, if you’re planning on selling soon, these ideas can help you get more for your home than originally expected. With a few simple upgrades and changes, you can take advantage of the current market and exponentially boost your profit.