With real estate markets heating up around the country, many homeowners are looking for ways to maximize the value of their homes in order to receive top dollar. Sometimes, a few simple tweaks and modifications can make a big difference. Give these value-adding activities a try:
1. Remove Non-Structural Walls
Today’s homeowners want space. They care less about partitioned rooms and would much prefer an open floor plan in which one space naturally feeds into the next. If you have non-structural walls or other constricting elements, go ahead and remove them. This includes non-structural columns, kitchen bars, kitchen islands, and interior walls between communal spaces.
2. Install Solar Panels
In 2017, one of the smartest things you can do is invest in solar panels. While you’ll have to pay a considerable amount up front, the long-term value and return on investment is well worth it.
As Bill Granger, VP of Trinity Solar, points out, “The typical return on investment timeline for a solar energy installation in the U.S. today is approximately 7.5 years for a regular 6-kW system, assuming the typical sunshine conditions of five peak sun-hours per day.” So, if you plan on staying in your home for at least seven or eight years, the investment makes sense.
It should be noted that while you can lease solar panels, buying is the way to go. This prevents home buyers from having to go through the process of working out contracts with a third-party provider.
3. Renovate Money Rooms
Certain rooms add more value to your home than others. Specifically, if you’re looking to enhance your home’s sales price you should pay attention to the master bedroom, master bathroom, and kitchen. These are three rooms that buyers care the most about and a few modern touches in these areas can go a long way.
In the master bedroom, extra closet space is always one of the first things people look at. If you have an opportunity to create more closet space, go for it. You can also add some trim work, crown molding, and fresh paint.
For the master bathroom, updating the countertop and installing some new hardware can go a long way. Modernizing the shower and tub with stone or tile surroundings can also have a positive aesthetic impact.
When it comes to the kitchen, keep the style and color scheme simple. Anything too crazy and you’ll ostracize a certain segment of the market. “Think neutral for countertops, cabinets, floors, backsplashes and appliances,” says Kristen Hampshire of HGTV. “By neutral, we don’t mean white. Go natural and subdued. Choose surfaces and fixtures that blend with many styles.”
4. Landscape and Pressure Wash
While the interior deserves a lot of attention, you can’t forget about the exterior. Curb appeal is what draws people in and determines whether buyers have a positive or negative first impression. Swing and miss on the exterior and people may stop before even coming inside.
When it comes time to put your home on the market, some fresh landscaping can go a long way toward making people feel welcome. Simply pulling weeds, planting flowers, and freshening up the lawn can grab a buyer’s attention.
You should also think about pressure washing the siding and walkways. It’s amazing what a difference clean surfaces can make on a potential buyer. (You can easily rent pressure-washing equipment from your local hardware store.)
All-in-all, there are plenty of simple ways to add value to your home. Don’t automatically assume that you have to build a bonus room or gut the entire interior. With just a few small tweaks, you can add thousands of dollars to your listing price.
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