Do you want to sell your homes? Do you want to sell it at a price much higher than you expected? Then you should learn different strategies that could increase your home value.
Home values are not only increased by expensive additions. You do not need to add a new patio or any forms of living space into your home to get a higher resale price; as simple as doing minor changes could benefit you most as a seller.
Home Gain has conducted a survey to help identify various activities that result to greater home value and for homeowners to have greater returns on investment. In this survey, various real estate agents have participated to express their opinion on the different types of home improvement activities. Among these items mentioned, the great return can be obtained from Clean and de-cluttering.
However, this article will focus on the repairs and minor changes. To know more about them, read more below:
Plumbing repairs
From the Home Gain survey, this activity garnered 88% of the real estate agents' recommendation. The return on investment would be equivalent to 327% for a cost of as much as $400. In monetary terms, a house sale could be increase by 1000 to 1500 dollars.
The goal of plumbing repairs is to make sure that it is functional whether it is in the bathroom, kitchen or even form the garden. Every faucet should work without problems, as well as the toilets. If you have overflowing septic tanks, make sure you have this checked and de-clogged before selling.
Electrical Repairs
Home Gain Survey shows that making sure you electrical system works as expected could increase house price by as much as $1500. This is what 89 percent of the real estate agents think that is why they are recommending such activity. So even if you shell out a max of $400 for the repairs or update it will definitely be worth it.
When you repair your electrical system, you do not have to limit your focus on the circuits, the sockets or even the wires. You also need to make sure that the devices that use electricity for functionality will be able to function as expected.
Flooring Repair
The floor is also the widest part of the house just like your walls. That is why it is very important to fix any obvious problem or even update it, to further enhance the appearance of the house. A 91% of real estate agents, who participated in the Home Gain survey, think that this needs to be done as it can generate an ROI of 250%. For a 500 to 700 worth of repair, you can increase price house in as much as $2,000 dollars.
So the next time you see a broken tile or a crater on your hardwood flooring, try to patch it or replace it. If your floor sounds creaky, that should be eliminated the soonest.
Kitchen or Bathroom Updates
Updating could also mean ensuring the functionality of these areas of the house. Buyers would normally check a kitchen and bathroom. Although the kitchen update had the lowest percentage of recommendation (which is 69%) and bathroom update being the second to the lowest (at 70%), these updates could still increase your home value. There can be as much as $3,000 home price increase for the kitchen and $1500 for the bathroom for a cost of $1500 max and $1,000 max respectively.
Part of the fixes would be the countertops, sink and tubs. You have the choice to resurface them if there are damaged areas. Appliances are also major items. Therefore, it is important to check this and other fixtures for functionality.
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