Today, everyone is trying to get ahead of the real estate game. Granted, it’s harder to make a profit in today’s market than it was in markets past, but you can still make money in real estate. So, if you’re thinking about moving or climbing to the next rung on the real estate ladder, don’t think that you have to wait for the market to turn around. You CAN sell your home for a profit and put the much needed equity in your pocket.
One of the best things that you can do to ensure a quick and profitable sell is to increase the value of your home. Increasing the value of your home has many benefits. For starters, it will help your home stand out in a market that has a lot of competition. Buyers know what they want. If you offer them something extra, your home will sell more quickly. Additionally, you will be able to sell your home for a profit. Many people are forced to lower their asking price in order to sell. If you increase the value of your home, you will be able to sell for much more.
6 Ways to Increase the Value of Your Home
There are many ways that you can increase the value of your home. The following add the most value to your property:
• New Kitchen – Buyers will purchase a home for the kitchen alone. Make sure that yours stands out with a new kitchen remodel complete with stylish upgrades. Learn what features buyers in your neighborhood are looking for. You should at least meet their expectations. If you can, try to exceed them.
• New Baths – Second to kitchens is baths. Bathrooms should be newly remodeled and clean. You should also pay attention to the number of bathrooms in your home. A four bedroom home with one bathroom is not going to sell as well as a similar home with more bathrooms.
• Master Suite – Buyers are asking for master suites. A large master bedroom complete with a master bath and walk in closet is ideal.
• Additional Bedroom – Another way that you can increase the value of your home is to increase the number of bedrooms that it has. Remember, rooms need to have a closet and a window that is large enough to serve as an escape during a fire in order to be designated as a bedroom. You may be able to turn an office or den into a bedroom for very little money.
• Additions – Additions increase the square footage of your home which increases its value. Some great additions are master suites, family rooms, game rooms, kitchens or simply finished your basement.
• Curb Appeal – You should not neglect curb appeal through all of this. Landscaping ads a lot of value to your home and it doesn’t have to cost a lot of money.
Not everything you do to your home increases its value. Shy away from loud or individually styled paint and carpeting. Choose neutral colors instead. Finishing attic or basement space does not ad a lot of value if it cannot be designated as living space or bedroom space. Many times, these spaces are designated as bonus rooms. You will see some increase in value but it may not cover the cost of the remodel.
Keep in mind the taste of your buyers when you are trying to increase the value of your home. If you have any doubts as to what buyers are asking for, contact a local real estate agent. He or she will be able to tell you what upgrades are selling and which ones are flopping.
Jamie Mades is a Colorado Realtor specializing in residential Colorado Springs Real Estate and Colorado Springs Military Relocation. You can reach him at http://coloradospringsteam.com/ for information regarding Colorado Springs Short Sales, Peterson AFB Real Estate and Schriever AFB Real Estate.
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