It’s the time of year when many homeowners are thinking of listing their properties for sale. This raises questions about how to increase your home’s value. Each home is unique and the particular updates required will be different in each situation. However, there are some general guidelines to assist homeowners.
The kitchen and bathroom remain key features to attract buyers. They can also be expensive to renovate. Some easy fixes that can be done at low cost include: cleaning the grout; removing rust stains, applying fresh caulk, repainting, updating cabinet pulls and replacing faucets.
Millennials (aged 25-30) are entering the home buying market in larger numbers. This group is looking for low-maintenance, high-tech, green homes. Be sure that the landscape is attractive, well-pruned and has low upkeep requirements such as low watering needs. Consider adding smart technology such as smart-phone enabled security and thermostat. If you need to replace any of your home’s mechanical systems, look at green options such as solar hot water heaters. Reducing energy costs may be useful to attract these young buyers.
Today’s home buyer is looking for a more open-concept living space. You might be able to achieve this by removing a wall or partial wall or even a door. A home that has a fresh coat of neutral wall colour will also appear more open. White and off-white remain popular paint colours.
Outdoor spaces that extend the living space of your home are very popular. The addition of a deck, patio, or outdoor kitchen could add value to your home.
Of course, before considering any of these changes, be sure everything you currently have in your home is in good working order. A leaky faucet or clogged drainpipe might signal poor maintenance elsewhere.
We would be happy to discuss any plans for preparing your home for the market, and can give you specific advice on ways to increase your home’s value.