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Want to Increase The Value of Your Home?
11 03 06  20  15
-------- With Little Money?
 During the past few years home prices increased in double digit percentages by just sitting tight in your living room. I do believe that over the long run, home prices will keep increasing: but I also believe that over the next few years, home buyers will be more discerning about the properties they will buy. During a seller's market, people are in a “take it or leave it” situation. I saw many houses with major defects being bought within a few days of being posted on the market. That is what will not happen over the next few years.
My advice: Even if you do not plan to sell your home right now, keep it in top shape. Keep your home in a “sellable” condition.
Home values carry a sentimental component. A house may go up or down in price up to 20% just on the combination of curb appeal and interior appeal. What may be an otherwise solid house with no structural damage may be called a 'fixer upper' to others – and seen as an opportunity to buy something at a discounted price, rather than at its fair value. And what would otherwise been seen as a regular home, may be called a “luxury property” just because of the appearance and condition of the trim and accents you add to the house.
Keeping a house in pristine conditions can make it hold its value easier, and if enough effort is created it can increase the value over similar properties in the market.
Simple things can make a big difference. I will try to list a few:
- Caulk around tub and sinks. Nothing makes a bath or kitchen look older than moldy, broken caulk.
- Patch small (or large) nail-holes, hairline cracks, and other plaster imperfections. Walls are the bigger thing people will see, make them perfect!
- Paint – a fresh coat of paint can do wonders!
- Steam wash carpets – rent a machine at your local supermarket. Not only it will improve its appearance, but it will reduce the odors of the home – and every home has a particular odor, you just get used to it because you live there!
- Clean windows – it is a tedious job, specially on McMansions. But it is worth to do it once in a while.
- Patch and seal driveway. Don't let the prospect buyers think about how much it will cost them to replace the driveway. A bit of patching and a nice seal coat will dispell that concern.
- Throw away trash, inside and out. Go around the house. Look for trash in the patio. Throw it away, that part should be easy. Now look in the attic, garage, basement, and other trash accumulation places. Sell on eBay, donate, freecycle, recycle or throw away those things that will get no use. If you decide to sell, you will need to make the house feel more roomier. That means you will have to move things out of the house to a storage place, or to the trash. Better do it now.
- Take care of lawn. A thick, plush, healthy lawn is attractive and doesn't cost too much to keep. Mulch and de-weed also. Pick up leaves. It doesn't cost too much, but maintains the curb appeal of your home.
What other inexpensive things can you think we can do to keep or even improve the value of our homes? |
