Last Updated on July 14, 2021 by Eric

When preparing to sell your home, you may be looking for ways to increase the value of your home. In this, you’ll want to look at what makes the most financial sense and what returns the most.

We will go over a few of the most common upgrades and solutions for increasing your home’s final value during the sale.

Visual Appeal

Fresh paint and new carpets may seem like simple solutions to getting some extra bucks out of your home, and they are, but some other often overlooked solutions to enhancing the visual appeal of your home include:

  • Deep Cleaning
  • Decluttering
  • UpgradeThe Front Door
  • Update The Kitchen (even a minor remodel can go a long way here)
  • Update The Bathrooms

While the costs associated with some of these may be greater than what you were expecting to spend, the returns can be far greater than the investment.

Add Efficiency & Technology

Switching to high-efficiency appliances, windows, a/c systems and the like can be a very expensive endeavor. However, you can add the appeal of efficiency without breaking the bank. A simple solution (costing an average of 200 bucks) is installing a smart thermostat. This simple upgrade can greatly increase the efficiency of an existing HVAC system.

Fixing leaky windows and doors, adding insulation, and other minor fixes will also increase the home’s efficiency.

Adding additional smart home upgrades that are affordable and add value include simple voice or app-controlled lighting systems (indoor and out), motion-activated camera systems, and smart outlets. These are all low-cost options that add modern technology to your existing home – which in turn becomes a point of value for the buyer.

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Curb Appeal

First impressions are everything, and the old standard of “curb appeal” still applies when it comes to selling your home. One study performed in 2020 stated that “curb appeal can account for as much as 7 percent of a home’s value”. With that in mind, a complete front yard landscaping job may be in order.  This is also another place an updated front door will shine through to your potential buyers.

The backyard shouldn’t be ignored, but one important aspect to include is how the backyard appears from the sightlines within the home itself. In order of appearance, the front of the home makes the first impression, the inside the next, and then the view to the back rounds out the overall impression. There is a stark difference between looking out of the window and seeing an overgrown forest or a clean lightly landscaped view where the potential buyer can envision themselves enjoying the space before even stepping foot into it.

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Staging

Staging is a great asset when it comes to selling your home. It gives the overall impression of how the home can look at the time of purchase. This is important because most buyers staring at an empty house immediately start thinking about makeovers and renovations. A properly staged home can help remove this from the buyer’s mind – or at least lessen the depth at which the buyer is perceiving this need.

A study stated that “Eighty-five percent of staged homes sell for 5 percent to 23 percent over list price”. With the average cost of staging being around $1500, this one task can have one of the best returns.

Other Options

Other options include increasing usable square footage. Homes are primarily sold based on usable square footage. In this, additions, knocking down walls, and reorganizing layouts can all be part of the process. Replacing all of the appliances in the home, full remodels of every room, complete flooring, and more can all be considered. But it is important to understand which ones will return positively for you or cost you more in the end.

Get Professional Advice

In the end, the best decisions will be made that utilize the needs of your particular market and neighborhood. Seeking the help of a real estate professional who specializes in these aspects can go a long way towards making the right decisions during this process. Selling your home, even in this seller’s market, is no easy task. Some seemingly simple mistakes can wind up being costly – including those overlooked simple changes that could have increased the value of your home. Get in touch with us today to get started on the right foot with your seller’s journey.

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