Tuesday, May 20, 2014

Four Home Upgrades That Increase Market Value

With the unpredictable housing market, many sellers find it exhausting trying to update their home in order to increase property value. But, experts agree that there are a few home upgrades that will increase a home’s sellable market value.

Here are the top four:

1. Curb Appeal
An important selling point, the curb appeal of a home should be eye catching and beautiful yet low maintenance. Both a dingy, overgrown yard and an elaborate yard can deter buyers, for both scenarios make a potential homebuyer instantly think about all the work the home needs in order to be maintained.

Simple fixes such as repainting the exterior, updating the outdoor home fixtures such as walkway lights, house numbers, and the mailbox are inexpensive ways to generate more income. These touch-ups revive the home, making it look and feel classy and new.

Additionally, creating an eco-friendly yard that is pretty yet low maintenance is an added selling point, for buyers will love a home that looks good without having to put in hours of effort or loads of money to upkeep it.

2. New Flooring
Stained carpet, unfinished hardwood, or cracked tile will detract from the home’s value. Flooring is a huge selling point with buyers, for it is not only present in every area of the home, but it also seems like a hassle to change. But, replacing the flooring or paying to have the floor refinished potentially can offer a homeowner a return investment of double.

3. The Kitchen
Most buyers are attracted to homes with fully updated kitchens. While other areas in the home that are outdated seem easy to fix, an outdated kitchen is overwhelming for most buyers. The thought of replacing old cabinets, countertops, or appliances seems like a lot of money and a lot of time, which makes buyers run in the other direction.

Investing in granite or quartz countertops, new cabinet hardware, and new appliances will enhance the kitchen, for it will look sleek and updated. Most buyers are willing to let other outdated areas of the home slide if the kitchen, which has become the most popular room of the house, is bright, seemingly spacious, and renovated.

Since buying brand new appliances can be expensive, home sellers should look into purchasing floor models, new discontinued models, or wholesale options.

4. The Bathroom
Undoubtedly, like the kitchen, the bathroom is another area that can make or break the home’s worth. Buyers want to see something new, modern, and clean. Bathroom projects, if there are no pre-existing problems in the walls, can be inexpensive. However, at times, when having to completely renovate the entire space, the initial investment can stretch a homeowner’s budget. However, bathrooms are one of the best return investments, thus spending the money or finding a temporary loan from a company like TitleMax.com to fund the project is usually worth it in the end.

Giving the home a fresh look will inspire homebuyers to make a valuable offer.

Image Source: www.homeenergyteam.com

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