Yahoo Finance I’m a Real Estate Agent: Here Are 4 Reliable Ways People Increase the Value of Their Homes in Less Than a Year
Now is a fine time to be on the selling end of a real estate transaction. Despite the highest mortgage rates in more than 20 years, demand remains healthy and competition is stiff for limited inventory — but don’t jump the gun before your property is ready.
Instead of trying to time the market, spend a few months or even a year getting your house into top-dollar shape.
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Linda Thell is a real estate agent and team leader at Thell Real Estate Group, which is brokered by eXp Realty and actively licensed in New Jersey. She knows just how to turn a good home into a great listing within 12 months. Here are her most reasonable and reliable tips for increasing your property’s value by this time next year.
Start With TLC — Fall Back in Love With Your Home
Thell’s first and best piece of advice for anyone planning to sell within 12 months is to make the last year the best one you’ve ever spent in your house.
“Take care of your home,” she said. “Deep clean your home. Declutter your home. Go through the closet that you haven’t opened in a few years and get rid of things you don’t need. Minimize your things and ask yourself if it is something you’re using and truly love to keep.”
Thell believes that cleaning and decluttering can be a cathartic experience that offsets the stress of selling and leaving your home. There’s a value-add, as well.
“By finding new organization systems for your items you will create a phenomenal showing experience for a future buyer when we are putting the home up for sale,” she said. “A lot of buyers are looking for smart storage and amazing organization. If you can show or create new organization systems in your home this year, it could be a great selling point for a future buyer.”
If that’s too much work or not in your wheelhouse, Thell recommends enlisting a professional organizer or calling your agent.
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Paint the Interior
Any designer will tell you that a fresh coat of paint is one of the cheapest, fastest and most dramatic ways to improve your home’s appearance and appeal.
“Homes that have been freshly painted not just sell quicker, but they also sell for a higher price,” said Thell. “Choose light and bright colors to make the home feel larger and like a clean slate for the new buyer.”
It’s a DIY-able project for most, but if you’re not confident in your ability to pull it off without looking sloppy, HomeAdvisor says the national average for professional painters is $3.50 per square foot.
Concentrate on the Most Important Rooms
Everyone is looking for something different in a home. Thell has worked with buyers who cared most about features as varied as pools, fenced-in yards for dogs, garages and primary suites.
“If you have these spaces, great,” she said. “Make sure you focus on them as well to make them the best they can be. But If you were to focus on a few rooms, it would be to update your kitchen and your bathrooms. As a rule of thumb, most of my buyers fall in love with the kitchen even if the pool is the main thing. Then my buyers usually fall in love with the layout of the living spaces.”
Her top pro tip is to install recessed lighting in every room to create a more inviting, open and seemingly larger space.
“For a pretty affordable penny, this can make a huge difference in terms of how someone will perceive your home.”
There’s No Such Thing as a Good Listing With a Bad Basement
Sellers usually prefer to spend “pretty money” on eye-catching features in prominent rooms — new sinks in the bathroom, shiny stainless steel appliances in the kitchen, striking crown molding in the dining room.
But savvy buyers are more concerned with “ugly money” spent on less visible, but far more important things where it really counts — in the basement.
“Go down there and take a look,” said Thell. “Place a dehumidifier in the basement running constantly. This will stop any potential mold growth if there is ever water down there. Check your foundation for any cracks and if you find one, call a basement company. Check your systems. Does your HVAC, water heater or boiler need service? If it’s been more than a few years, it’s worth it to have someone come check it out. Any critters? Call a pest company and have them come for a free consultation. They can tell you if you have something going on. Better to catch it now so you can take care of any potential problems prior to listing your home.”
If you have an unfinished basement, Thell’s experience suggests that the cost of finishing it could be the best money you can spend.
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