- Boosting Your Homes Resale Value
Housing prices may have dropped in your neighborhood, but there are smart ways to invest in your home right now to help hold its value.
Knock out a non-structural wall, or even remove that kitchen island. Anything that opens the space and creates a sense of flow in the house is generating a response from buyers who can afford to be choosy. For the price of a few hundred dollars, you'll transform the feel of the house. Right now buyers want a wide open floor plan, the living room right off the kitchen. They are into big spaces.
Tangled trees and unkempt bushes can obscure views, darken interiors, promote mold, and block a good look at the house.
The number one item: lighting—everything from a dimmer switch to the increasingly popular sun tubes—noticeably enhances a home's appeal.
Sun tubes are great, too. Less expensive than framing in a skylight, sun tubes—also known as light pipes, sunscoops, and tubular skylights—use reflective material to funnel natural light from a globe-capped hole cut in a rooftop down through a ceiling fixture and into a room. With tubular skylights, sunlight is nice, and moonlight is even nicer.
A few other ways to light things up: Fix broken panes, make sure windows open, and consider lights that use motion detectors to turn themselves off. Remember high wattage bulbs make small spaces feel larger, and soft lighting brings warmth to empty spaces.
Before thinking about a fancy upgrade to the kitchen, address the basics. Insulate the attic, repair plumbing leaks, replace rusty rain gutters, inspect the furnace and the septic system, replace or repair leaky windows, install storm doors, weed the flower beds.
These kinds of fixes go a long way toward value. Starting with a couple hundred dollars on a few things could increase the value of your house by a few thousand dollars. People are surprised by that. It's exciting. People think they have to put in a lot of money to see a big difference and they really don't.
Investing in maintenance and repairs is not only moneywise; could also be crucial to a sale. Houses that get attention in this buyers market are in tip-top shape. What's important in this market, now more than ever, because there is so much inventory, the houses that sell are in pristine condition and are priced to the market.