There are plenty of reasons why home improvements take place - it could be that the space doesn't quite agree with the current tenants anymore and needs to be remodeled and reconfigured. It could also be that there's just the itch to redesign for a fresh new look. Regardless of what the reason may be, the foremost motivation for major improvements is the idea that one wants to ensure that their property remains in tiptop shape, and always looking new and maintained; all of which lead to one road: improving a property's value. And in this cyclical real estate market, it is always important to be ready to cash in and convert your assets.
And in this spirit, we've drawn out 10 tips that could help you boost your home's resale value by figuring out which renovations - small or substantial, should be prioritized and take precedence over the rest.
1) Get A Pro's Prospective - Consider hiring a real estate agent, a local designer, or an architect and get their opinion about your home and how to best improve it. It always good to have a fresh set of eyes look at what you have, in case you've missed some details that experts would know to look at. Remember, these resource persons are trained with their respective clients in mind, so having advance notice of what they'd look for is a great way to get prepared.
2) Low-balled on Landscaping - Most people don't think that this matters, but it does - greatly, in fact. Some properties decline in face value primarily because of its exterior looking like a mess. In more severe cases, it affects buyer's bids and drags down your property's evaluation. A simple clean up of the front and back lawns and its surroundings ensures you that whoever looks at your home will find it aesthetically pleasing.
3) Power wash and Pomade - Much like landscaping, cleaning is essential. Make sure you have ample cleaning supplies stocked up, in the event that an impromptu showing is approaching and would need a quick clean.
4) Research on What's Selling - If you're renovating just because you want to and for no particular reason, it would be wise to research on what the market is currently looking for in terms of furniture, fixtures, and the like. And whether you do decide to profit from your property regardless of it being furnished or unfurnished, these pieces will still have an impact when you show your home to prospective buyers.
5) It's What You Are ... Outside and In - Basically, upgrading your doors (both inside and out) is like getting a tan - it's something that will catch the attention of people around you. This ensures that your property stands out from the rest, and will have recall in your prospective client's mind or simply to make your neighbors look twice.
6) Eyesores Are Out - Take out and replace outdated and useless stuff. This includes but is not limited to your lawn gnome, or that pink pelican statue out back. Remember to try and keep your property simple and sweet.
7) Kitchenomics - The kitchen, alongside the master bedroom, are the main showcases of any home. Remember to keep it neat and tidy. Dispose of those energy guzzling appliances and replace them with Energy-efficient ones. It not only keeps your bills at bay, but it also makes the area look modern.
8.) Look To The Light - Replace those windows and dividers that prevent the sun from shining. You've made your house a home, and it's now time to show it off with the use of some sun. Artificial and ambient lighting, although very effective under the right settings, isn't quite the same as natural lighting, and your prospective buyers will see this.
9) Paint Pays - If you're not structurally modifying anything in your home, it would be a good idea to put a dab of fresh paint over that plain wall you've been staring at. This is a cheap and full-proof way to enliven any room and catch the attention (and imagination!) of people viewing your property.
10) Storage & Space - If there's one thing that everyone nowadays look for, it's space. Lots of it. So whatever the size of your humble abode is, it's always good to squeeze some more out of it. Put in space saving cabinets, compartments and turn awkward areas into nooks that make use of once-thought usable space.