Although it’s a seller’s market right now, you can still get far less value than what your property can bring. This is why you need to be strategic with your home upgrades so that you can command higher prices from the market and even exceed whatever the market currently dictates.
While many people aren’t necessarily looking for luxury finishes and fixtures, the property should be so gorgeous that people would go way over the asking price just to be able to buy the property. Here’s how you can do that.
Install Energy Efficient Appliances and Features
In the past, homes were constructed without any consideration for energy efficiency. So, appliances in the home were pretty much gas guzzlers. This led to high monthly utility bills, particularly during the summer and winter.
These days, there’s a high demand for energy efficiency in homes by buyers. They want to make sure that not only will their electricity bills be lower, but that their energy consumption doesn’t negatively affect the environment.
Installing energy-efficient appliances and features in the home will take care of that. The most important appliances to consider are the air conditioners and heaters as these tend to consume a lot of electricity. Look for appliances with high SEER ratings. These are incredibly energy-efficient and environmentally friendly.
Put in High Demand Finishes
Your property’s finishes play a role in the buyer’s deciding factor. So, put in some stainless steel appliances, change the door knobs and handles to brushed nickel, and use quartz countertops in the kitchen.
Also, switch out the incandescent electric bulbs to energy-saving LED bulbs. These can be just as bright –if not brighter- than incandescent bulbs and can lead to decent energy savings.
If you can, add solar panels to supplement their energy consumption –many intending buyers are actively seeking alternative energy sources in their new homes. These are finishes that buyers expect to find in new homes. If your property lacks these, buyers are more likely to go look elsewhere.
Upgrade Your Kitchen and Bathrooms
The kitchen plays a key role in helping buyers make up their minds. Ensure that your kitchen has great countertops, cabinets, space, and lighting. Use quartz countertops for your kitchen tops.
These are not only very beautiful, but they are also highly durable. Done correctly, your kitchen cabinets can complement the beauty of the kitchen countertop and the lighting. Use contemporary cabinet designs in the home.
Then, pay attention to the kitchen’s fixtures too. New and modern always trumps old and refurbished –unless you’re going for the rustic or retro property look. This is particularly important if you’re doing a fix and flip.
As for your bathroom, update the wall and floor tiles, and change the fixtures into something contemporary. If you can afford it, install a smart faucet. Every faucet is said to save 15,000 gallons of water every day.
If you don’t do anything else on the property, upgrade these two rooms. They make the most impressions on buyers.
Enhance Your Curb Appeal
People often assess a property based on its curb appeal. A home that looks great as people approach it makes a good first impression. And people love homes like that a lot. In fact, homes with great curb appeal tend to move off the market faster.
So, how can you enhance your property’s curb appeal? Start with trimming the hedges, and moving the lawn. Then power-wash the driveway and other pavements near and around the house –this includes walkways and paved footpaths.
If you have trees on the property, make sure that its branches are pruned and that the entire exterior looks immaculate. Then, clean or repaint the porch, and entrance door if necessary. For the door, you can’t go wrong with bright colors –red, white, and even black always look amazing. You should consider putting flowers on the porch –use hanging flower gardens if possible.
Repair or Replace Your Roof
If the property’s roof needs repairs, get it fixed very quickly. However, if the roof is old, you could gut the entire thing and update the roof with a new modern-style roof with the works.
This is a pretty expensive venture to take on, but it’ll pay for itself when you sell the home. If you’re not sure about whether you need a new roof or not, check out this roof replacement guide.
Splash a Fresh Coat of Contemporary Paint
A fresh coat of paint can do wonders for an old-looking home, particularly when you use modern paints and colors that people see in magazines. If you’re in doubt about picking the right color, just go with white, and complement it with a splash of other colors if necessary.
Repainting the property can immediately add returns of between 55 and 107 percent. So, go put an extra layer of paint on that property to improve its market value.
Build Out Unfinished Parts of the Home
Do you have an empty or unfinished basement? How about a patio or shed that’s still a work in progress? If you do have any pending additions, by all means, finish them.
Many property buyers want a finished property; not one that will cost them more time or money. Plus, you’ll likely attract a lower offer if parts of the property aren’t finished. No one wants that.
Add Relevant Tech Gizmos
Some homebuyers are looking for smart homes or properties fitted with tech gadgets that help run the house more efficiently. And if you can add eco-friendly options too, that would be a plus.
The majority of those who prefer a home with tech features are usually millennials and now, Gen X buyers. With millennials making up 38 percent of homebuyers, it’s important to factor in their requirements in a home.
Some examples of relevant gizmos you should consider adding to the home include programmable or smart thermostats, smart fire detectors, good home security, ring doorbell, smart locks, carbon monoxide detectors, and lighting systems.
The good thing is you can easily get these devices and add them to the home without any major modifications –in many instances, no modification to the physical structure is necessary.
What do you think?