If you’ve ever watched one of the many television shows about people looking for their dream homes, you’ll notice certain aspects about the homes that the potential homebuyer likes and dislikes. Though it might feel a bit removed since you’re seeing the debacle through the television screen, these likes and dislikes largely exist in the real world as well. When you’re ready to sell your home, take a look around – do you like what you see? Now put yourself in a potential homebuyer’s shoes. Do you think he or she will truly like your home enough to purchase it as it is or walk away?
If you’re looking to bolster your home’s market value, here are 10 updates to consider to draw in homebuyers and more money!
Add Space and Light – Homebuyers like spaces that have room and lots of light. Cramped and dark spaces simply won’t do. If your home has small rooms that block the flow of natural light, consider knocking down walls that aren’t load-bearing to open up the floor plan some. Give the illusion of a larger living area by combining your living room, dining room, and kitchen. Open up some rooms to create an inviting, happy atmosphere. A house that is airy and bright will draw in homebuyers and make them wish they lived in your home already!
Consider a Home Office – Telecommuting, that is, working from home, is a career trend that’s growing more and more with each passing year. This makes having a home office more of a necessity than a luxury. Create a dedicated workspace to add value to your home! Try converting an unused den, sunroom, or additional bedroom into a business center nestled in the comforts of your home. Make sure that the space has ample cabinetry for storage and that the electrical outlets have been updated.
Enhance Your Curb Appeal – Does your house look inviting from the inside? If it doesn’t, the chances of a potential homebuyer coming in to see what’s inside are quite low. A good first impression can add 5-10% to the value of your home, according to Bankrate.com, so take the time to revitalize your curb appeal. Paint the faded exterior, repair the crooked shutters, and repair your sidewalks or driveway if they need it. Make sure, too, that your lawn is manicured and looking sharp. Adding some colorful, drought-tolerant, and easy-to-care-for plants will also add more appeal to your home’s exterior.
Tack On a Sunroom – Outdoor living has become a very popular trend, so it would be wise to create a space that bridges between your home and outside. Your sunroom can either be unheated (three-season) or heated (four-season) and can include features such as skylights, vaulted or cathedral ceilings, and an array of flooring. Not only will sunrooms be an attractive feature for those who like being outside, but they are also an affordable way of adding some square footage to your home!
Add a Deck – To expand on the outdoor living motif that is dominating today’s housing market, decks are a bargain when it comes to additions. Try to up the ante, if you can, with a large deck that features benches, plenty of space for a table and several guests, and maybe even a built-in fire pit. A higher grade of materials for the flooring and railings will enhance your addition and make it easier to maintain as well.
Grab a Paintbrush – When it comes to freshening up your home, painting is one of the least expensive ways to get the job done. Choose a neutral color or a subtle hue to help potential homebuyers envision themselves living in your home. If you don’t want to choose your colors or don’t have time to paint, consider asking an interior designer for an opinion and allow a professional painter to do the dirty work.
Rev Up the Landscaping – A beautiful landscape can really draw in potential homebuyers, so give some thought on how you can beautify your lawn. Add some paths, plants, lighting, and well-placed accessories to your landscape to make it stand out. Make sure that your landscaping is both attractive yet easy enough for a different homeowner to maintain as well.
Give the Basement a Make-Over – Got an empty basement downstairs? Why not remodel it to give your home additional value? You can easily transform your basement into a recreation room, man cave, media room, or an entertainment space. Feel free to add an extra basement as well – this will dramatically increase your home’s value (besides, who wants to go all the way upstairs to use the bathroom during halftime?). Don’t forget to add some storage space – you can never go wrong with additional storage space!
Add Another Bathroom – If you’ve ever lived in a home with only one bathroom (or not enough bathrooms), then you know how awkward it can be getting ready in the morning or hosting large parties. Adding another bathroom or even a half bath will do wonders in boosting your home’s value. While you don’t have to go too fancy, plenty of space, his and her sinks, spacious showers, and ample storage will go a long way. Keep the flow of your home consistent by making sure that this addition is in the same period as the rest of your home.
Bolster the Kitchen – The kitchen is the heart of the home – it draws in party-goers and is where the family gathers to eat and discusses their days. If you want to draw in potential homebuyers, update your kitchen. Remember to include plenty of counter and cabinet space. While many gravitate toward granite countertops and stainless steel appliances, it’s much more important to ensure that your appliances all match and that your countertops are strong and easy to maintain. Additionally, islands make for a wonderful addition if your kitchen has the space. They provide additional counter space and can be used for a variety of tasks.
We hope that these ideas will help you increase your home’s market value! No matter if you’re buying, selling, or staying put and enjoying your current home, remember that home insurance is always a smart investment to make. Call us at 1-800-766-MMIC or find us online at www.madisonmutual.com to get the perfect policy for you today!