For most people, real estate is the most valuable asset they possess. So, when it comes to selling a property, it is vital that you maximize its value to get the best sale price.
Whether preparing to sell your home or an investment property, which includes letting it to a tenant, doesn’t matter. You need to find cost-effective upgrades that deliver a positive ROI and ultimately feed into a better financial future. Here are eight great options that can make all the difference.
Maintain Outside Spaces
When a potential buyer or tenant views the property, the first thing they see is the outside spaces. Likewise, any online viewings start with photos of these areas. Naturally, then, it makes sense to give them added attention.
Investing in an electric snow blower to clear snow before taking photos in winter is ideal. This can actively make the property seem larger at a glance while also making it a more welcoming place. The fact that you can take the snow blower with you to your next home means it can improve safety and convenience in daily life for years to come. So, you’ll see exceptional value for money in the long run.
Other small maintenance tasks like trimming bushes back or repairing small cracks in the driveway will have a big impact too. Just be sure to treat the backyard as well as the front.
Invest In The Building Exterior
In addition to the outside spaces, you should pay attention to the condition of the property itself. If it gives off the vibe that structural work will be needed, most buyers will be turned away. Thankfully, most updates require minimal work.
For starters, dirty roofing and windows have a damming impact on the aesthetic. So, hiring a roof cleaner to jet wash the tiles clean can be ideal. Meanwhile, you can replace broken tiles or treat the window frames for a better overall look. The front door is another key feature, not least because it sets the tone just before a prospective buyer or tenant steps inside the home. A relatively small upgrade can add thousands to the value of the home.
If the building itself looks a little outdated, new or revamped siding can work wonders. Whether it’s painting the walls or vinyl siding installations is up to you.
Do More With Currently Underutilized Spaces
There’s no escaping the fact that bigger homes are viewed as more attractive and valuable. While extensions could cost a fortune, you may find that you have several spaces that are currently misused. Putting this right will work wonders for your property.
Home offices are known to add significant value to homes while also attracting a larger audience. So, transforming the garage or guest room into a more functional space is ideal. If you only have a small space to work with, though, creating a luxury dressing room is equally beneficial. People want stylish features that make their homes stand out from the crowd, and this is exactly the type of space that could make them fall in love.
After all, you’re not simply selling a home. You are selling a lifestyle. So, the sooner you establish a sense of exclusivity within the property, the sooner its perceived value will rise.
Declutter
If making the home feel bigger and better is the goal, a thorough decluttering session is one of the best decisions you’ll make. Aside from actively making the property more attractive, which can yield larger bids, it saves you a lot of hassle when moving.
Decluttering can take many forms. Firstly, you should use this as an opportunity to sell or discard any unwanted items. Adding smarter internal storage solutions to drawers and cupboards makes the home look more organized. You’ll enjoy it more while living here while visitors will enjoy a luxury vibe. The fact that you can achieve great results with cheap accessories and a little DIY makes it an ideal real estate upgrade.
To enhance the vibes further, invest in new drapes or blinds to dress the windows. Introducing more natural light makes rooms feel larger and more homely.
Add Smart Tech
Modern tech has improved our lives in many ways, especially in the home. Whether looking for investments that add value to your daily life or will simply offer a positive ROI, Smart tech is perfect. You probably have some features, but going the extra mile will pay dividends.
A Smart thermostat and Smart appliances that automate daily tasks by learning your behaviors will serve you well. Voice-activated tools that allow you to control the lighting or entertainment will make the home feel futuristic. Once people are in a state of feeling impressed, they are far more likely to see the entire property in a more possessive light. Crucially, they will be able to imagine themselves living on the property.
Home security tools like remote-monitored surveillance cameras and motion-detecting lights work well too. People won’t buy homes that make them feel vulnerable.
Fix Minor Faults
To sell a home successfully, you must put yourself in the buyer’s shoes. When moving into a new property, most homeowners will want to add their personality. So, the wallpaper choices and color schemes won’t matter too much. In fact, neutral is probably best.
Conversely, though, the prospect of needing to fix faults throughout the home is far less appealing. Therefore, fixing the broken electrical outlets or staircase rail is crucial. Likewise, fixing the broken fence panels or boosting the pressure of your shower can work wonders. In truth, it’s less about adding value to the property and more about avoiding potential financial losses. After all, real estate buyers will raise these issues when posting a bid.
It is particularly important to cover this step when looking to rent out a real estate asset. As a landlord, you are legally obliged to meet safety standards.
Get Better Photos
A prospective buyer’s opinion of the property is formed before they even visit the property. That’s because they will begin their interactions with online viewings or by seeing marketing materials from the realtor. With this in mind, getting great photos is key for building excitement around the property. Whether you do it yourself or let the realtor take control of this factor, great photos will create the best first impression.
When supported by the other steps above, your hopes of maximizing the value of your sale will soar.
