Sometimes, selling your house might be more challenging than you have thought. You may not get as much interest as you predicted, or the prices potential buyers offer to you may not be sufficient to satisfy your needs. Luckily, you can boost your home’s value.
From adding roof coating, removing rugs, and adding light fixtures to decluttering your home and painting the walls, there are many methods you can try to improve the saleability of your house. If you would like to learn the complete list of the best home improvements to make your home more valuable, read on.
- Add Roof Coating
- Remove Rugs
- Eliminate Clutter
- Repaint the Walls
- Install Light Fixtures
- Add a New Kitchen
- Improve the Outside of Your House
- Remove Knickknacks or Extra Decorations
- What mistakes to avoid when selling your house?
- You don’t know anything about the housing market
- Sell the house before you’re ready
- You sell “By-Owner” without research
- You’re emotional when hiring the Realtor
- Go with your gut feeling!
- You set the price based on the anticipated profit
- You over customize your home
- You hide problems/history of your home
- You are emotional when negotiating
- The house isn’t ready
- Frequently Asked Questions
Add Roof Coating
Adding roof coating is one of the best ways to improve the value of your home. It is not only a great way to protect the house from extreme weather conditions but also an excellent option if you want to make your roof look new.
However, remember to consult your roofing specialist beforehand and ensure that it is a good idea in your case – for example, a rubber roof coating may sometimes be unnecessary, as the EPDM membrane is already waterproof.
Removing rugs is one of the easiest ways to boost the home’s value. The place can look very different with and without rugs, but even though the cozy feeling may disappear if you remove them, the rooms will feel more spacious.
Also, removing carpets and rugs allows potential buyers to check that all your flooring is in good condition. If you decide to implement this idea, make sure to check if there is any damage and fix it.
Having too much clutter in your home can be a real turn-off for potential buyers. A cluttered place often seems messy and uncared for, and people may think that it is in worse condition than you claimed. Hence, decluttering your home is essential if you want to get a good price for it.
Repaint the Walls
Instead of paying a lot of money for expensive new furniture or bathroom refurbishments, simply repaint the walls. It is a quick fix that can give you fast results. Just choose a color that suits your interior and does not make the room seem less spacious. You can also match it with wallpapers or carpeting to make the rooms look nicer.
Install Light Fixtures
Lighting is an important part of any home. However, many homeowners overlook this fact. No matter how good your interior design is, the lighting can make or break the room. Therefore, adding light fixtures will undoubtedly add value to the place.
You can install them over your dining area, kitchen, or bathroom to create a warm and cozy living space. A well-lit room can help you sell the house faster and for more money.
Add a New Kitchen
New kitchens are always considered as a great improvement of value for any house. They are always quite expensive, but they can be an excellent investment if you plan to sell your home in the near future. If you want to add a new kitchen, look for a designer who can bring out the best in the room. You can also use magazines or websites to get some ideas.
Improve the Outside of Your House
The outside of your house is also important if you want to sell it quickly. Consider improving the exterior by adding a garden, building a patio, or changing the front door color. If your house has a garage, you can also think about adding a driveway or changing your garage door.
Remove Knickknacks or Extra Decorations
Installing extra decorations in the living room or bedroom is one of the easiest ways to add value to your home. However, too many decorations are not always a good thing. Not only do they clutter the room, but they also make it feel messier, less spacious, and less stylish. If you want potential buyers to get fascinated with your interior, remove any extra decorations and leave only those which add value to the place.
Selling your house might be more challenging than you have thought. However, there are many ways you can use to make the place more valuable. Adding roof coating, removing rugs, eliminating clutter and extra decorations, repainting the walls, adding light fixtures – these are just a few simple steps you can take to increase your house’s saleability.
However, before implementing any of these ideas, remember to contact your reals estate agent and adjust your budget, so you don’t spend more money than you can earn. We hope that this article was helpful – and good luck increasing the value of your house.
What mistakes to avoid when selling your house?
As with everything in life, you need to know what to do and what to avoid to obtain the planned results. Here are the most common mistakes that homeowners make when trying to sell their houses:
You don’t know anything about the housing market
In the last years, the global economy caused incredible lows for the housing market. However, experts are optimistic and expect great comebacks. You don’t just go ahead and try to sell your home; check out the local and nearby communities’ housing market statistics first.
Sell the house before you’re ready
Deciding to sell your home is challenging. Once you choose to sell, you will be flooded with various emotions and the whole process will be emotionally and mentally draining. Don’t put the “For Sale” sign just yet. Please spend some time thinking of why you sell the house; ask your family, friends, and even neighbors how they feel about your plan. A list of “pros” and cons is always helpful, so write one.
You sell “By-Owner” without research
Maybe a neighbor or a friend sold their properties on their own or For Sale By Owner (FSBO), which brought them a nice profit. Even if the scenario isn’t impossible, you should be aware of the amount of research work that stands behind. It would help if you found the perfect timing for showing your house to possible buyers, how to talk to Realtors, and do due diligence about the rules of selling your home. There are many new things to get familiar with before selling your home and this requires time and effort on your part.
You’re emotional when hiring the Realtor
Most of us know a Realtor or have a friend who has a Realtor friend. Even if that’s excellent information, we don’t recommend you hire them solely based on knowing each other. You should hire a Realtor with experience in selling houses in your area. Plus, if you go with the Realtor you already know, you may have difficulty dealing with selling tactics or disagreements. Always check out the professional experience of the Realtor you’re about to hire.
Go with your gut feeling!
Even if you hire a Realtor, you know your house better than anyone else. Having said that, you should trust your instincts when deciding about your home. The Realtor will know the best selling price for your house, compare the prices with similar properties, showings, etc. Should the Realtor recommend that you sell the home in a certain way that doesn’t sit well with you, your preferences, and values, you should consider hiring another agent. It’s not that difficult to find one that speaks your language.
You set the price based on the anticipated profit
When you lack the information, it isn’t easy to overprice a house. Ask yourself some questions first:
- What’s the condition of your home?
- What amenities do you have?
- What price have similar homes in your areas?
- When was the last time someone sold a comparable house in your area?
We recommend you hire a professional appraiser to assess the value of your house before setting an asking price. You shouldn’t just pick a number based on the profit you want from selling. Don’t forget that people looking to buy also know a thing or two about houses.
You over customize your home
We all love to customize our house to our preferences, needs, and budget. However, you don’t want to overdo it when upgrading your home, especially when compared to the “norm” for your neighborhood. For example, you will get a high return on investment by upgrading the kitchen and master bath. Remember that you cannot increase the asking price by $50,000 if your renovation costs that much. When you renovate your house, you need to stay in line with the neighbors’ houses—they can become the competition at some point. Even if the interior design has its value, you shouldn’t overdo it when customizing your home.
You hide problems/history of your home
Being honest is crucial when selling a house. You should be fair and tell a potential buyer about the water leak in the kitchen four years ago. Don’t make a secret out of your home’s past, especially if it’s not the most positive history to tell. Even if you try to hide it, a home inspector may identify the problem and the information may affect the negotiation. Ideally, you should run all the necessary repairs before selling and tell the buyers about it.
You are emotional when negotiating
We know that parting ways with your home is complicated on many levels. It could be the house where your children have grown and the space has sentimental value for you. When you negotiate the price, you should do your best and leave emotions out of the way. You sell a house to someone who can turn it into their home. When selling, your home becomes the commodity that gives you the money you want.
The house isn’t ready
Even if you are emotionally ready to sell your house, your house may still need some work. Don’t rush the cosmetic upgrades, repairs, improving its curb appeal, nor the home staging. The home selling market is highly competitive, and if you want to sell it as fast as possible, don’t rush into it. Replace the old carpet, kitchen appliances, bathroom fixtures, and all the other improvements your house needs before selling.
Once you sell the house, you will most likely be on the other side of the housing market. Your experience as a seller will help you identify the pet peeves in the houses you see. Finding a new place to call home should go smoothly, especially since you know already what to look for in a house.
Frequently Asked Questions
How fast can you sell the house?
According to the National Association of Realtors (NAR), an average property is sold within 21 days of listing in 2020. An average home loan purchase takes 46 days. All in all, the average time from listing to closing is around two months.
What’s the best day to list a house?
It seems that the best day to list a house is Thursday. Properties listed on Thursday will sell for more money and quicker than homes listed on any other day of the week.
What’s the lowest offer to make on the house?
If your house doesn’t sell and you’re willing to get lower with the price, it’s good to know just how low can you go. There’s no hard-and-fast rule for the lowest price to take and you should get advice from your real estate agent. Also, check out the comparable sales. Most of the time, you can go 5% to 10% under the listing price. The prices in the areas will also affect how much you can reduce the selling price.
Why doesn’t your house get showings?
Nine times out of ten, the main reason a house doesn’t get showings is the high price. People aren’t interested in your home because of the cost and not the property per se. Most of the time, buyers will choose the houses they’re interested in by checking out the listing prices.
What day of the week are most home offers made?
It seems that Friday is the day when most offers happen. However, Thursday and Monday come in close.