As much as we love our homes, there may come a time when we would need to sell it because of various pressing reasons. We could be moving to another state, country, or continent, we could be needing immediate financial aid, or we could also be choosing to leave the town because of reasons, medical or otherwise. Whatever it is, it is advisable to know how to keep and even increase the market value of our homes.
In this article, you will learn more about some of the best tips for increasing your home’s market value. Continue reading below to learn more and don’t forget to take down notes!
1) Upgrade Your Kitchen
While every component, every room, and every part of your home are essential to its overall market value, the kitchen is one of the most important factors affecting your home’s resale value. A recent survey has shown that approximately 80% of homebuyers consider the kitchen area one of the three most important spaces in a house, followed by the master bedroom and the living area with 49% and 42% respectively.
Moreover, did you know that renovating the kitchen produces a very good return of investment? According to the 2018 Cost vs. Value Report, a major kitchen remodel can produce an ROI of 53.5% to 59%. Similarly, a minor kitchen remodel’s ROI can get as high as 81.1%.
Consider a kitchen remodelling project in order to increase your home’s market value. Start by setting a budget and sticking to it. Remember that major kitchen remodelling activities can cost a fortune so it is best to anticipate contingency costs which may or may not occur. Moreover, do not forget to include labor costs and potential shipping fees in your budget.
2) Refurbish Your Roof
Roofs are one of the most important components of a house. However, it is more often than not overlooked and not paid enough attention to. The importance of a roof is not only found on its purpose of keeping and protecting us from extreme weather conditions but goes beyond this. A well-maintained roof is important, especially its rain gutters, for keeping rain water away from eroding and destroying the house’s main foundation.
Did you know that remodelling your roof has a high rate of ROI? According to the 2019 National Averages, asphalt roofing replacement has an average ROI of 68.2% while metal roofing replacements have an average of 60.9% ROI. This high ROI makes a roof renovation a good investment in the long run, especially when you are looking forward to selling in the near future.
That being said, a regular check-up, cleaning or even a roof replacement is a great idea for increasing the property’s market value. The right move would depend on the severity of your roof damage. You can check out sites like cityseamlessroofing.com turo help with any roofing repair or replacement needs. Do not wait for severe roof damage before deciding your next move as this can lead to more expensive repairs down the line.
3) Manicure The Lawn and Remodel Your Landscape
Last but definitely not the least, manicuring your lawn and remodelling your landscape are surefire ways of increasing the market value of your home. A well-manicured lawn gives the potential buyer the impression that the house itself has also been well taken care of. Since the lawn is one of the very first things that a potential buyer sees, it is important to leave a good first impression by making sure that your lawn is properly trimmed.
Remodelling your landscaping is another great way to increase the market value of your home. A wilting and unorganized backyard is very unappealing to the eyes. This can be a very big deal breaker for some especially to potential homebuyers who are nature lovers. Research this well and call your local landscape artist for any professional help needs. Good landscaping not only adds to the aesthetic appeal of a house but also increases its utility, thereby increasing the home’s market value at the same time.
Keep these tips in mind to increase the value of your home when it comes time to sell.