- The current real estate market offers profitable opportunities for home sellers.
- Improving curb appeal, conducting a property assessment, and hiring real estate services can increase home value.
- Enhancing landscaping, maintaining the roof and siding, and updating the front door can improve curb appeal.
- A property assessment can identify areas for necessary maintenance and repairs and help set a realistic price for the property.
- Working with real estate professionals, such as agents and lawyers, can provide valuable guidance for a successful sale.
Selling your home can be profitable, especially in today’s real estate market. According to the National Association of Realtors, the median existing-home price in March 2021 was $329,100, up 17.2% from March 2020. This surge in home prices can be attributed to solid demand for housing and a limited supply of homes for sale.
With home prices rising, selling your home can be a lucrative decision. However, to maximize your profits, making your home as valuable as possible is essential. A study by HouseCanary found that a home’s value can increase by an average of 3.9% when sellers complete specific improvements, such as new paint and updated kitchen appliances.
For those looking to make their homes more valuable, here are some tips to consider:
Curb Appeal Improvements
One of the best ways to improve the value of your home is by enhancing its curb appeal. This is because the exterior of your home is the first thing potential buyers see when they pull up to the property. A well-maintained, attractive home can significantly impact the impression of the house and, ultimately, the sale price.
Here are some ways to improve curb appeal:
Landscaping
A beautifully landscaped front yard can enhance the appearance of your home and create a welcoming atmosphere for buyers. Consider planting flowers, adding shrubs, and trimming your lawn regularly for a neat appearance.
Roof and Siding
The condition of your roof and siding can make or break your home’s curb appeal. If they are in poor condition, potential buyers may be put off. Therefore, it is crucial to maintain them regularly and repair any damages as soon as possible.
Front door
The front door is the focal point of your home’s exterior. Consider painting it in a bold, new color or replacing it with a more modern design to give your home a fresh, updated look.
Lighting
Outdoor lighting can add aesthetic appeal, safety, and security to your home. Consider adding low-voltage landscape lighting or solar-powered lights along the path to the front door to create a warm, welcoming ambiance.
Property Assessment
Assessing your property is an essential step in preparing it for sale. It can help identify areas that require attention, such as necessary maintenance and repairs. A professional property assessment, carried out by a home inspector, can provide valuable insights into the condition of your home, helping you understand its strengths and weaknesses.
Identifying essential maintenance and repairs is crucial when selling your home, as it can help maximize your profits. A well-maintained property is more appealing to potential buyers as it gives them confidence that the house has been taken care of over the years. A poorly maintained property, on the other hand, can negatively impact its value and deter buyers from making an offer.
During a property assessment, the home inspector will evaluate the condition of various components of your home, including the roof, plumbing, electrical systems, heating and cooling, structure, and foundation. They will also look for any potential issues that could affect your home’s safety, livability, or value. This information can help you prioritize maintenance and repairs to address these issues before selling.
In addition to identifying essential maintenance and repairs, an assessment can help you set a realistic price for your property. Knowing the actual condition of your home can give you a better idea of its value and how to price it correctly. Overpricing your home can drive potential buyers away while underpricing it can leave money on the table.
Getting Real Estate Services
Selling a home can be complicated, and getting real estate professionals’ help is often essential. A real estate agent can provide valuable advice on maximizing your home’s value before listing it for sale. They will also have access to industry resources to help you determine a realistic price for your property and market it effectively. Working with an experienced real estate professional can make all the difference in selling your home quickly and at the highest price possible.
A real estate lawyer can also provide invaluable guidance, especially when navigating complex legal matters such as contracts and negotiations. A lawyer can help you understand the finer points of selling a home, ensuring the sale process is smooth and successful.
Final Thoughts
Selling your home can be profitable, but it is crucial to take the necessary steps to ensure your house is as valuable as possible. Increasing curb appeal, getting a property assessment, and hiring real estate services are all effective ways to increase the value of your home and maximize its sale price. Taking advantage of these tips can help ensure you get the most out of selling your property.
