Ways to Add Value to Your Real Estate Listings

With warm weather approaching, property owners may be gearing up to sell their homes. There are many ways to add value to property without undergoing major construction or taking on long-term projects. Below are some ideas to share with your clients who may be getting ready to sell.

• Focus on the kitchen! The number one return on investment (ROI) when it comes to renovations is a kitchen upgrade. Homeowners don’t have to do a total overhaul of the kitchen. Updating to stainless steel appliances and refinishing cabinets can provide a modern, clean look. 

• Keep the colors neutral and clean. Fresh paint with neutral colors will appeal to a broader audience as it can go with a variety of decor and furniture choices. Bold and bright colors will turn some people off, which can lower the value and selling potential of the property.

• Update hardware and lighting. If cabinets can’t be refinished, just adding new handles and drawer pulls can make a difference. Changing out light fixtures brightens the space. Minor switches like this can make a whole room feel updated.

• Improve the curb appeal! Impress people as soon as they approach the property. Keep it clean and well-maintained. It’s easy to work with a small budget if you keep up with minor maintenance. Trim the bushes, edge walkways, sweep sidewalks, mow the lawn, hang a seasonal wreath, store tools and children’s toys out of sight, and clean the windows inside and out. If the budget is larger, consider adding a deck or patio, which extends the living space.

• Fix things that need to be fixed. Buyers tend to be more concerned with leaking faucets than Jacuzzi tubs. They want something move-in ready that they don’t have to worry about repairing. 

• Open it up! If there is a little more time and money available, consider converting to an open concept. Opening walls to create a more open living space can make older, boxy homes feel fresh and modern. It’s a good “bang for your buck” remodel that can add value to your home. 

• Add a room. This doesn’t necessarily mean you need to undergo full construction, but you can convert an attic or basement to a living space. A rec room, office, or den is always a good selling point.

• Privacy is a top-5 factor that influences home values. A more private property is often more desirable. Homeowners can’t always fully alter the privacy of their lot, but one recommendation to increase home value is to reduce backyard exposure to neighbors. Trees, bushes, and fences are great way to accomplish this.

Whether your client wants some minor DIY projects to boost their listing price or a bigger project to drive up their home value, there are many options to provide. Never underestimate the power of a few minor changes to make a major difference!

Sources:

• http://www.wral.com/best-ways-to-add-value-to-your-home/17438728/

• http://www.hgtv.ca/real-estate/photos/15-ways-to-add-value-to-an-income-property-1911117/#

• http://homeguides.sfgate.com/add-value-real-estate-1570.html

• http://realtormag.realtor.org/daily-news/2018/03/27/little-known-factors-affecting-home-values

• http://realtormag.realtor.org/sales-and-marketing/handouts-for-customers/for-sellers/how-add-curb-appeal