In today’s market, buyers are preferring turnkey homes over properties that require too many repairs. This is why you might consider making a few improvements before listing your home on the market. Even if you’re not planning to sell for a while, investing in a few upgrades may increase your property’s value and make it more desirable when the time comes.
The following are five projects that can be completed in a relatively short time frame, without costing you a fortune:
1) Kitchen upgrades
A well-appointed kitchen is the undisputed heart of the home, and a few key upgrades can add serious value. Quartzite countertops, for example, are natural stone surfaces that are becoming increasingly popular for their durability and stain-resistant properties. Plus, they come in a wide range of colors and styles to suit any potential buyer’s taste.
Next, consider installing a faucet with motion sensor activation and a pull-down feature with a dual spray. Choosing a high-end design will make your kitchen look sleek and modern. Other improvements include adding a backsplash, installing new cabinet hardware, and replacing your light fixtures. The goal is to make buyers feel at home in the kitchen and to imagine themselves whipping up a feast for their friends and family.
2) Bathroom upgrades
The bathroom is another key selling point for potential buyers, so it’s important to make sure it’s in top condition. Start by replacing any cracked or stained tiles, and consider upgrading your fixtures and lighting. If your budget allows, you might also want to install a floating vanity or heated floors.Other spa-like upgrades include a steam shower, a soaking tub, and a Japanese toilet, complete with a heated seat, air-drying feature, and built-in deodorizer. But if you’d rather not commit to the full nine, there are ways to get by with just a few cost-effective upgrades in the bathroom. For example, refinishing your bathtub to make it look shiny and new costs about $300 on average. Also, removing shower doors gives the illusion of more space and can be achieved without breaking the bank.
3) Smart home technology
Seventy-one percent of buyers in the U.S. are willing to pay more for turnkey or renovated properties that come equipped with smart home technology, according to a study by Coldwell Banker. This is because a tech-enabled home with all the bells and whistles can save the owner time and money in the long run.From automatic lights and keyless entry to a Nest thermostat and a home security system, there are plenty of smart upgrades you can make to increase your home’s value. Many of them are relatively affordable, easy to install, and controllable from a smartphone or tablet, so there’s no reason not to take advantage of this growing trend.
4) Go green
The National Association of Realtors’ 2021 report on generational trends among buyers found that environmentally-friendly features in the home were a top priority for millennials and Gen Zers. Millennials, in particular, are supercharging the housing market with their unprecedented demand for sustainable homes.So, if you want to add value to your home and attract more buyers, consider making a few eco-friendly upgrades. Installing ENERGY STAR-certified appliances, for example, can help homeowners save $450 on their energy bills. You can also replace your lightbulbs with LEDs, add a rain barrel to your garden, and insulate your attic and walls to conserve energy. Also, adding solar panels could be a wise investment, too, as they can increase the value of your home by 4% depending on where you live, which is up to $15,000 for the average home price in the U.S.
5) Landscaping and curb appeal
Exterior landscaping in a standalone home or hallway presentation in a co-op or condo is often the first thing potential buyers see when they arrive for a showing, so we’ve saved this for last for a good reason.If you live in a detached property with a yard, start by mowing the lawn, trimming the bushes, and weeding the garden. If you have a driveway, make sure it’s clean and clutter-free. Also, consider painting your front door in a bright color like red or yellow. This can give your home a more welcoming feel and make it stand out from the other houses on the block.
On the other hand, if you live in a condo or co-op, focus on tidying up the lobby, entranceway, and other common areas on the premises. Talk to your co-op board or property management team about replacing any burned-out lightbulbs, vacuuming the carpets in the hallway, and fixing any wonky buttons in the elevator that don’t light up when you press them. Doing so will help create a good first impression for potential buyers when they view the home in person.
The Bottom Line on How To Boost Your Home’s Value
Whether you’re investing in smart home technology, going green, or sprucing up your property’s curb appeal, there’s an upgrade for you. Not only will these improvements attract more buyers, but they’ll also boost your home’s value and save you (and the next owner) money in the long run.For more tips on a successful home sale, check out our recent post, and don’t hesitate to contact an Elegran advisor for even more personalized advice.
Happy selling!
