You have worked hard to buy your first home, but there will come a time when you will need to step up and buy a better and bigger home for your growing family. Before doing so, you need to make sure your first home sells at the best price.
Raising your home’s resale value can help you sell at a higher price. This allows you to profit from the sale and use that extra cash to finance your next purchase. To do that, you need to know the most effective ways to help you get a good return once a buyer approves the purchase. Here are a few things to keep in mind if you want to increase your home’s resale value:
1. Start with improving curb appeal
First impressions last and buyers are likely to pay more if they like the exterior of your home. Consider enhancing your curb appeal by updating the exterior wall paint, replacing your front door, and installing a front porch. You can also add water features and vegetation around the property to attract people who prefer having lots of green spaces. By focusing on curb appeal, you can justify a higher price for your home.
2. Get a new roof
A roofing system not only complements the appearance of your home. It also provides safety and protection from the elements, so expect buyers to ask about the condition of your current roof. Outdated roofing systems are a potential deal-breaker and reroofing would be a great way to nudge the buyer toward closing. If you are wondering, “Does a new roof increase home value despite the high cost?” you would get a return of investment of around 60% when you sell your home.
3. Add energy-efficient features
Homebuyers would love a home that consumes less energy so they can pay fewer utility costs. Today, there is a high demand for energy-efficient real estate and homes with upgraded electrical systems are more likely to sell for a higher price. Apart from replacing outdated bulbs with LED lights, you should also install a programmable thermostat as well as a solar panel system. You should also upgrade your HVAC system as well. These improvements will help you score a better deal, especially if the homebuyer has a preference for sustainable living spaces.
4. Upgrade your kitchen
If there’s an area you will need to remodel, it’s the kitchen. Buyers are more than willing to pay a high price for a home if the kitchen offers optimal comfort and functionality. While buying new appliances and installing freshly varnished cabinets and wooden features are expensive, you can still recoup your investment at a higher rate.
You need to determine which upgrades will add the most value to your home. Aside from new appliances, you can also add a countertop or center island, a backsplash, and storage. In addition, you can also consider changing the kitchen layout and adding a false ceiling.
Whether you’re planning to sell your home this season or waiting for the right time to get it listed, make sure you get a good return once you have sealed the deal. With these tips in mind, you can profit from selling your home and use those added resources to move into the home of your dreams.