Any house buyer would ideally want to purchase a property that is in a turnkey condition. A turnkey house is one where a new buyer can settle right in without having to spend anything on repairs or maintenance. A house itself is a hefty investment for a lot of people, which means that they are unwilling to spend even more after making the purchase.
So, if you are looking to sell your house, your best chances of attracting a huge pool of buyers is to get your house as close to turnkey as possible. In other words, you need to take certain steps in order to increase the value of your property, and this blog will discuss some of those steps – alongside a few things that might actually end up bringing your property value down.
How to Increase Your House Value
1) Painting and repairing the external walls
Naturally, your home’s exterior is the very first thing that a potential buyer will notice, which means that the outside of your house should be well-poised to make the perfect first impression. This, of course, cannot happen with unsightly, old, or dilapidated properties.
If you want to increase your exterior’s appeal, a fresh paint coat is your (and your home’s) best friend. However, you need to make sure that you are not choosing excessively bold colours like dark blue or lime green, or your home will stick out for the wrong reasons. A designer or real estate agent can help you determine the shades that will best suit your house.
Alongside freshening your walls with new coats of paint, you also need to make sure that they are not visibly damaged in any way. If you have weatherboard walls, make sure that your panels are not in need of replacements. Similarly, brick homes often require fresh mortar for filling in any small gaps. These modest improvements will have a significant positive impact on your house.
2) Upgrading windows and doors
Not only will new windows and doors increase your home’s style appeal, but they will also lead to lower energy bills by increasing energy efficiency. Moreover, they will also help the environment – something that a lot of modern buyers prefer and even stress upon.
3) Yard lighting and landscaping
A pretty landscape yard often works as a charm for buyers – not to mention that it does not even cost all that much. The condition of your yard is often reflective of the overall effort that you put in to the maintenance of your property. If your yard is unattractive, messy, or filled with dead plants, it can act as a quick turn-off for potential purchasers.
On the other hand, an attractive yard makes buyers envision themselves spending quality time outside their houses throughout the year. If you are good with gardening, you can improve your yard by yourself or you can always turn to professional landscapers.
Remember that yard lighting is also crucial since a lot of prospective buyers will only get the opportunity to drive past your house after dark, and lighting can help create a modern and chic look for any onlooker.
4) Interior flooring
You might find it hard to believe, but a lot of buyers start their examination with the flooring, and they expect stylish, clean, and contemporary floors. So, a musty or an old carpet won’t exactly help your house’s promotion. While hardwood floors are timeless and easy to maintain, you can also not go wrong with a premium carpet that brings about a warm and cozy atmosphere. Fix any flaws with the flooring and, if you have old or frail carpets, do not forget to fix them as well.
5) Upgrading the kitchen
The kitchen is perhaps the most vital area in any house. Most buyers look for a functional kitchen space that comprises good quality bench-tops, cupboard, and taps.
Sometimes, sellers go over the top with their kitchen upgrades, using stainless steel for appliances and marble or granite for bench-tops. While these modifications make the space appear modern and sleek, it might also drive buyers away instead of attracting them since they will associate these modern upgrades with a higher buying price. However, this does NOT mean that your kitchen should appear unattractive or untidy and your appliances should be in poor working order.
6) Repairing the toilets and bathrooms
Just like with kitchen modifications, it is very much possible to go berserk trying to give your bathroom the best possible look with new tubs, toilets, cabinetry, and showers. If your bathroom already appears fresh and is in working order, these upgrades might not necessarily add value to the house.
The ideal bathroom space should strike the perfect balance between aestheticism and functionality. Instead of going all guns blazing with your bathroom upgrades, be smart and focus on modest repairs like tile grout replacement or wall painting. Make sure that your exhaust fans are clean and that there are no damaged chips inside the sink or bathtub. In some cases, using more energy-efficient or user-friendly models to replace the current light fixtures can also help.
7) Interior painting
When it comes to interior design, there is no trend that is immortal. For instance, previously, it was routine for for-sale houses to have white, blank walls so that the new buyers could picture their own colours and designs. These days, however, it is believed that a white wall might make a house appear devoid of appeal and character. Hence, it is common for sellers to paint the interior walls with exciting colours.
However, it is important to get the colours and shades spot-on. You do not want to go with something outlandish or the buyer might not be able to envision themselves living in your house. While choosing colours, make sure that they complement each other as well as all the other elements of the property. Textured brushing techniques and accent walls can help enhance visual interest, but an interior designer can help you decide that.
Things that Reduce Property Value
1) Deferred maintenance
This one should not really be surprising. If you have damaged sidings, leaky roofs, or malfunctioning HVAC systems, you cannot expect to get top dollar for your property. Hence, letting this backlog build up and putting your head in the sand will continue to reduce your property’s value. Moreover, the longer you ignore these issues, the more expensive it will be for you when you eventually decide to address them.
2) Excessive personalisation
If you use your garage as a home office, gym, playroom, or for any other purpose other than parking cars, you might be damaging your house’s value. This is because a significant percentage of potential buyers would want to use your garage as a garage – that is, a space for parking their cars and storing yard equipment. So, if you do use the garage for other purposes, you should make sure that it is not too hard for future homeowners to convert it back into a traditional garage.
3) Excessive carpeting
While carpets emit warmth and attraction, they also retain odours, are difficult to clean, and make signs of damage more prominent. Moreover, a potential buyer might walk away if they do not like the colours. While you can – and probably should – add a bit of carpet here and there, your priority should be to go for lamination or hardwood. According to a study, 54% home purchasers are happy to pay a premium for houses containing hardwood flooring.
4) Excessive wallpaper
A bit of trendy wallpapering on an accent wall or the powder room might be fine with some buyers, but you should avoid going overboard. Excessive wallpapers can overwhelm a number of potential buyers, who would see it as nothing but another project should they decide to purchase the house.
If you are considering selling your house, then it is just fair that you do everything you can in order to ensure that you get the desired price. With the suggestions and precautions discussed in this blog, you can maximise your home’s value before you put it on the market.