Today I wanted to share 3 tips for how to get a return on investment when selling your home.
1. Paint the interior of your house. It is easy and affordable, it pushes the appraisal up, and it impresses buyers. That makes it the best in rate of return because it is the cheapest option, but it can make you more money in the end.
2. Flooring. It does cost more, but it really ups the quality and condition of your house.
3. Replacing the counter tops and the sinks in the bathroom and kitchen. It gives it a fresh look but you are saving money by not redoing the cabinets. If you can’t redo the cabinets, they to paint them a fresh color like white.
One thing that I suggest is comparing your home to your neighbors home. If you have granite and no one else around you does, that affects the value of your home, and vice versa.
Before I wrap up I wanted to address the 3 things that don’t add value to your home
1. A pool. Pools are very expensive, around 100,000 to put them in. Until the other houses around you are similar to yours, you don’t have a comparable so it actually brings the value of your home down. In other cases, it can add some value but it won’t reach the original price that it was to install.
2. A detached garage. The square footage won’t add value, even if it is nice, because it isn’t counted as living square footage. It WILL add value if you can attach it and add it as living square footage.
3. A detached barn. It is the same as a pool where if everyone around you has one, then it can add value, but if not it doesn’t add value at all.
These tips are all things that you can do or should avoid when it comes to appraisal value. Appraisal value and retail value are not always the same. In some cases when a house has a pool, it can be easier to sell because people want the pool and they are excited about it, or because it has a pool it will bring less buyers because not as many people want a pool. It is really interesting to see and we do this all based off comparable properties to see what is going on in your area.
If you are looking to sell your house, please reach out to me I would love to help you get the best price for your home.