If you’re thinking of selling your home, of course, you’ll want to know how to increase your home’s value. But there’s no single straight-forward answer.
First, many things beyond your control, including mortgage interest rates, the mood of home buyers and the square footage of your home, can affect the resale value of your dwelling.
Second, you can do home renovations that increase the value, but their cost is so high that you don’t get any return on your investment.
5 Ways to Increase the Value of Your Home
The following are just a few ways to heighten the value of your home by making it more appealing to prospective buyers.
- Paint in Neutral Colours – It’s well-known that a coat of paint is one of the least expensive ways to get higher offers for your home. But be sure to use neutral colors so buyers can better imagine how they would decorate the home.
- Do Everything You Can to Increase the Curb Appeal of the House – Curb appeal refers to the first impression buyers have of your home when they see it from the road. Keeping your front yard well maintained and planted, painting or refinishing the front door, and even adding attractive new door locks, will all be among the first things buyers notice.
- Pay Attention to Kitchens and Bathrooms – You’ve probably heard this one before too, but it can’t be overstated. Think about it. How much different can a living room be from one house to the next, aside from furniture, paint colours and accessories? But kitchens and bathrooms can be distinctly different from home to home. Yours should be as clean and up-to-date as possible.
- Highlight Additional Living Spaces – Whether you have a finished basement or an inviting outdoor oasis, these can be the features that set your home apart from others.
- Let Them Know About Home Improvements – Similar to promoting additional living spaces, don’t be afraid to let them know that you have a new water heater, or that your new roof was installed by the top roof company in Toronto!
If you enjoyed this post, check out our recent article on five ways of preparing for a house valuation.