How to Increase the Value of Your Home: Part 1 – Short Term
It can be challenging to figure out how much your home is really worth. You may know what you paid for it and what properties are selling for in your neighborhood, but the market can still be unpredictable which can make it hard to figure out what a buyer might pay for your house.
Unfortunately, the amount you paid several years previous, the additions you made over time, and the memories you have tied up in your home are not reliable predictors of the current value of your home.
So, we have put together a two-part blog explaining the things you can do, short and long term, to optimize the value of your home in the marketplace.
Part One: Short Term
Upgrades don’t all have to be massive projects – there are many simple undertakings that will make an instant difference. Here are some short term things you can do to enhance the value of your home:
A fresh coat of paint in neutral colors
If you want to sell your used car, a seven dollar car wash can add hundreds (maybe more!) in value. The principle is if something looks clean and crisp to a potential buyer, they will get the impression it has been properly cared for and is a good investment. A nice new paint job is one of the simple eye-catching things you can do to boost the value of your home. Make sure you choose a neutral color so buyers can visualize their own color schemes, repaint with ease, and focus on the architecture in the home without being distracted.
New landscaping outside the house
First impressions are important in everything from job interviews to the dating scene. Same goes for your lawn. A well-manicured lawn will set the expectations for the rest of the home and can differentiate your home from others of equal perceived value. The first step buyers will take will be on your lawn – make sure that opportunity to impress doesn’t go begging!
An energy saving thermostat
This simple upgrade can bring your home into the 21st century and allow technology to work for you in your home. Because your thermostat accounts for half of your energy bill, investing in a smart appliance (we like the NEST Learning Thermostat) can save you money and make your home look modern. Independent studies showed that people saved between 10% and 15% on their cooling bills, which means this product will likely pay for itself within a couple of years. A no-brainer, especially in sunny South Florida!
We hope this has been helpful – as usual, don’t hesitate to get in touch with our local experts!