Selling your Property? Add Value First?
Sellers ask, all the time..."What can I do to ADD VALUE to my house before selling it?" We would rather you think about what makes your house more DESIRABLE. Why?
See if this makes sense - Do you think that installing a new roof would make your home more VALUABLE? In short...adding a new roof does NOT necessarily make a home more valuable (at lease not dollar for dollar) but it makes the house a lot more DESIRABLE. You won't get dollar for dollar for a roof...you almost never get dollar for dollar for ANYTHING you do, however:
If you add a pool - You added Value, If you add an addition or extra room (actual square footage) - You added value. If however you "convert" a garage...you're giving value AWAY! Why?? Because if the house has a garage, it needs one...just like a house NEEDS a roof and making a bedroom out of a garage doe NOT help...(Unless you raise the floor - Appraisers won't apply value to it)
This is just a short example of an "adding value" discussion...I'm guessing you never thought like this before? That's OK because we do! Call us before you list...we will guide you through the adding desirability phase and we even have the vendors to help you do it!
So.....Which items will add value to your home and help with resale when the time comes to sell?
The real answer is: “Only the ones that future buyers will also want and be willing to pay for.”
As a general rule, choosing the functional over the merely cosmetic and choosing neutral over unusual or exotic will pay at resale. Taste and current trends can also affect the value of an update. Unusual colors have a limited appeal.
Which updates will add the most desirability or "value" to your home?
- Updates that increase usable space (an extra bathroom, larger and/or upgraded kitchen, master bedroom suite, more closet space, conversion of unused space to a home office).
- Updates that will lighten and brighten your rooms (white or light color paint and floor coverings, light woods, skylights, larger windows, French doors).
- Updates that will open your home to the outdoors for fresh air and entertaining (French doors to the patio or garden).
- Updates that will increase privacy and security (fencing, landscaping).