How to Increase Home Resale Value

Whether you’re moving somewhere smaller, bigger, or just completely new, selling your old home and starting again is an exciting time. But before you start packing, you first have to find out what your current home is worth and how much you want to get out of any sale.

Some home improvements, including those that require little investment, can increase home resale value. Investigating which renovations add value is a key step before selling a property to ensure you get the most out of your sale.

Keep reading to learn how to increase home resale value without significant investment.

Add Scale Without Adding Size

You don’t have to knock down walls to make rooms feel bigger. One of the best ways to increase the resale value of your home is to make it feel bigger than it actually is. This doesn’t always have to be done at any great expense.

A great way to make a house feel bigger is with a fresh coat of white paint on the ceiling. This brightens up the space and makes it seem larger than it is. Switching to lighter-toned window treatments and adding mirrors into the space can also help reflect light around a room, making it look bigger.

If you want to spend a bit of money, adding new windows to rooms can make a big difference to how big it feels. New flooring added in the direction of the light is also a good idea to lengthen the appearance of the flooring. These changes are small, but offer a big difference to resale value.

According to HomeLight, adding a new window can cost between $100 to $2,500, which is a small price to pay for potential a big return on investment. Similarly, changing the flooring in a room can cost as little as $1,000, sometimes less if you DIY it, according to Modernize.

Don’t Modernize Everything

a real estate agent showing a couple around a property

Many people have fallen into something of a trap in the modern era that everything has to be brand new or else it isn’t worth anything. The housing market is just one of the markets where this is far from the truth.

Just because your home is older than most, that doesn’t mean the character it has isn’t valuable when it comes to added resale value. Keeping the features that make your home unique is important if you want to maintain a high resale value.

For example, an old wooden sturdy staircase, or the original archways from when the home was first built, are desirable features of a historic property. If these features are refinished, they’ll have just as much value (if not more) as they would if they were brand new.

Refresh the Kitchen

One of the main areas of a property where people spend the most time is the kitchen. According to SWNS Digital, Americans spend more than 400 hours in the kitchen every year, on average. Over a lifetime, that’s more than three and a half years spent in the kitchen!

If your kitchen is looking a little outdated, it should be one of the first rooms you spruce up. If a complete kitchen remodel is not financially feasible for you, then look for simple ways to revamp the space.

Kitchen remodeling doesn’t have to be a big, expensive job. A little goes a long way. For example, adding a splash of new paint on the cabinets, a new backsplash for the oven, a new light fixture, and/or new hardware can make a kitchen look newer.

Replace the Windows

Another great way to increase a home’s resale value is to replace the windows in the property. This is especially important to do if the windows are old, decrepit, and/or leaky.

According to Forbes, most Americans spend between $200 to $500 per new window in a property. Based on research by Express Windows Group, homeowners can expect to recoup an average of 73% of the investment in added resale value.

This can make replacing the windows on your property even more worthwhile. Plus, new windows make a home look brighter, can increase energy efficiency, and improve curb appeal. These can all create more interest in your home, leading to more offers and a faster sale.

Invest in Energy Efficiency

a person monitoring smart home systems via a tablet

It’s no secret that the world is actively attempting to ‘go green’. There’s no reason why you can’t follow suit at home. Again, this doesn’t necessarily have to be a big investment on your part. Even something budget-friendly, like adding recycling facilities or installing a vegetable garden, can go a long way.

Energy-efficient light bulbs are another cheap investment that can make your home more efficient. However, if you do want to spend the money, you might consider better, more energy-efficient appliances that’ll save the new owners money on electricity.

The Realtors at NV Home Pro state that on-demand water heaters and solar panels are another huge drawcard for prospective buyers. The alternative source of power saves new homeowners money as well as the environment. This is particularly preferable with millennial buyers.

Summary

Selling a home is all about making it as inviting as possible for a prospective buyer. In general, the less the prospective buyer has to do or think about before and after moving in, the better.

You can make a home so much more attractive for a buyer without putting in too much effort. Plus, if you decide to spend a bit of money in the process, make those decisions wisely and ensure you can recoup on investment come sale time.

The best way to ensure your investment will add value to your home is to speak to a local real estate agent. At Brotherly Love Real Estate, we are your local property experts. If you’re an investor or homeowner looking to sell a property fast in Philadelphia or San Diego, we can help.