If you’re planning a home appraisal so that you can get a good price when you sell your home, click here to learn 8 ways to increase the value of your home before you call your appraiser.
Whether you recently purchased your first home or wanting to make some money on flipping a house, there are a few ways to get good results on a home appraisal for maximum profit.
Some of the simplest home improvement projects can bring you in a 73-89% return on Investment!
The first thing you need is a plan of action on which home improvement projects your house needs the most, and what people in your area are exactly looking for in a house.
The only problem is knowing which projects are going to bring you in the best return and profits upon selling the house. The last thing you want to spend a lot of money on a project that does not increase the value of your home.
Keep on reading to learn the top 8 inventive projects to increase value and maximize the profit of your house.
Let’s jump into it.
1. Book in Time with a Professional
Invite an interior designer or experience realtor to come and check out your house. Most realtors will do this complimentary if you agree to use them for the sale, and the designer will charge you a consultation fee, which is worth it.
In one hour, you will have a complete list of mandatory updates to make such as changing the paint colors, installing new cabinets, re-arranging furniture, new appliances, and much more.
2. Lower Your Home’s Energy Costs
Lowering the energy costs of your house will not only save you money while you are still living there, but this is also a huge sales point down the road. Anywhere from switching to LED lights to insulation and low-E coatings on windows should make a big difference in your “green” credentials.
Update your water heating system, as water heating is responsible for up to 16 percent of added energy costs the average home. Other areas to look at are energy efficient windows, which can save buckets of money in utility costs.
Update these parts of your house ASAP as potential buyers will ask for your previous utility bills for proof of upgrades.
3. Increase Your Curb Appeal
Considering that the exterior of the house is the first thing people notice, increasing the curb appeal of your home is one of the best ways to increase the value of your home appraisal.
Trim overgrown shrubs, replace or change the front door, fix the siding, fencing, and replace any outdated features that you can fit into your budget.
Landscaping is another huge sales factor and you can easily fix it up on your own. Most millennials these days are looking for a home with low maintenance, so no need for any extravagant landscaping features, as an outdoor fire pit with extra seating will do just fine.
Adding a work shed is another very desirable feature that has been very popular with new homeowners, you can learn more about building a workshed from scratch with many online DIY tip websites.
4. Update Your Technology
Knowing which high-tech features to add to your house can mean the difference between increased property value and wasted money, as technology seems to evolve and get outdated so quickly.
Two of the biggest tech advancements to your home is are security systems and programmable thermostats.
Security is the number one factor when homebuyers are deciding on the right house, so a properly installed system will do wonders for your home appraisal.
Installing a custom programmable thermostat that you can control from your smartphone. It is easy to use, and can also help save money on utility bills, this makes it a major selling factor for homebuyers.
5. Upgrade the Kitchen
Any real estate expert knows that the best way to increase any home appraisal is an updated kitchen. Even the smallest changes such as new paint or a backsplash of tile can make a major difference in a kitchen facelift.
Have a bigger budget? Update your appliances to stainless steel, which is currently a buzzword in all home appraisals. Change the cupboards, or even paint them a faux wood finish for a more luxurious look.
6. Give the Bathroom a Facelift
Updating your bathroom is always a smart decision when increasing the property value of your home. Currently, the best updates for a bathroom are to make the best use of its space with extra storage and to brighten it up with lighter walls and better lighting.
Low on your budget? Change out the wallpaper for fresh, white paint or a textured finish. Replace the faucets, fixtures, and replace the overhead lighting for wall mounts for more even lighting.
New grout can also make a huge difference in the appearance of your bathroom.
If your budget is higher, replace the countertops with granite or marble, add heated floors, and tile around the shower area with stone and add multiple shower nozzles.
7. Make the Best Use of Space
If your house has the slightest possibility of adding in an extra room, take advantage of that and create a “flex room” or office. Nowadays, with many people working from home, having an office in the house is a huge sales factor.
An open floor plan is currently a very desirable feature when millennials are purchasing their first home. The more livable space, the better.
8. Keep It Simple
The last thing that new homeowners want to take on is a high maintenance home with numerous projects to tackle. Make the yard manageable, and easy to care for by adding stone or gravel in place of grass. Removing the hard-to-clean carpets and adding wood or linoleum flooring makes it easier to clean and less time-consuming.
Learn More About Preparing Your House for a Home Appraisal
Follow these key factors with fixing up your house for your home appraisal and you will have no problem getting a high value for your home.
We have many more articles such as how to prepare your house for a sale, many infographics on real estate, and so much more.
Questions? Contact us at any time and we would be happy to assist you!