We all know what the Real Estate Market is like right now. Great time to sell, extremely difficult time in being a buyer. Unless you've been living under a rock- you know this to be true. So what's happening? People are going to be staying in their homes longer. So why would you need tips in increasing the value in your home? I mean the real estate market is doing that on it's own, so why put in the work? Ultimately the real estate market won't always be like this. The real estate market will find it's balance. With interest rates rising, we are slowly starting to see this happen. So what can you do to increase the value of your home and make it stand out?
Think About A Possible Remodel
This can sound like a lot of work, but it doesn't have to be. Take it one step at a time. Kitchens, and Bathrooms sell homes. Start there....especially with the kitchen. Studies have shown that 80% of the cost to your remodel will go back into increasing the value to your home. Always, always, always consult a designer before going down the remodel route. A two hour consultation could save you a lot of money in the long run. Sometimes you don't need to do a major remodel. Sometimes just switching up hardware, replacing light fixtures, and a little paint can go a long way. A Designer could also help you love your home again. Sounds crazy, right? Maybe you want a more open floorplan. There could possibly be a wall or two that could be taken out that could make your home more liveable, feel bigger and give you that open floorplan that you've been desiring.
Curb Appeal Counts
First impressions are critical, especially when selling your home. When was the last time you were at Disneyland? Did you really pay attention to their landscaping and flowers? Have you ever seen a wilted flower at Disneyland? Or a weed? Pay attention the next time you go. Put color into your landscaping. Add flowers, pull weeds and possibly new bark around the flower beds (if you have them). Power wash your driveway, replace burnt out light bulbs and clean off debris. It sounds so minimal, but sometimes the little things go farther.
Hire A Home Inspector
A Home Inspector, depending on the square footage of your home, can run from $250-$500. They will take about 3-4 hours and go through your home and determine what's working well, and what (probably) needs to be replaced. How's your plumbing? How's your electrical? How many years does your roof have left? Are any of your windows leaking? If you're reading this, I'll bet most of you can't answer those questions. Let's say you're thinking about replacing all the windows and doors in your home. Are you sure that every single window needs to be replaced? This is where a Home Inspector can help. Just like a Designer, it can help in saving you money in the long run.
Exterior Paint/New Roof
How's the exterior paint of your home? Most homes needs a good little exterior face lift every 10 years. It's not an inexpensive endeavor but well worth it in the long run. This kind of falls under the same category as Curb Appeal as when you pull up to a home, and you see paint chipping, what's the first thing you think to yourself? The home isn't taken care of. What else is wrong with the home? But please do us all a favor when painting your home, no bubble gum pink, or purple homes. Save those colors for the interior of your home.
Let's talk about your roof. I've represented a lot of buyers before and the #1 question I would get asked when walking through the home is, "how's the roof?" It's a major expense and an expense that no new homeowner wants to take on themselves. A new roof can increase the value of your home and help when the time comes, in selling your home. Always consult with three roofers as sometimes the entire roof doesn't need to be replaced.
Paint Paint and More Paint
I think a lot of people lose sight of how far painting the interior of your home can go. A room can go from looking very sterile, to having so much life with a little bit of color. Studies show that painting your bathroom blue will increase the value of your home. Thinking about replacing your kitchen cabinets? That alone can cost you upwards of $8-$10k depending on the size of your kitchen. What if I told you a lot of designers have their clients cabinets painted. Painting your cabinets can 1.) save you a lot of money in the long run 2.) change the look of your kitchen dramatically. My husband and I are thinking about doing this to our kitchen, as we have brown (ugh) cabinets. Brown cabinets can be nice, in a home with a ton of natural light. But let's be honest, I live in Seattle....we don't have a lot of natural light here. So lightening my kitchen up, will change things dramatically for our home.
So the takeaway to all of this is, talk to professionals. Sit down and create a budget and then meet with a Designer. Spend some money now, to save money later. Trust me, hiring a Designer will save you money!!