Increasing Your House Value ⋆ The Miranda Team Real Estate Group

Increasing Your House Value

Increasing Your House Value

November 18, 2018 / Category: Home Selling, Home Selling Tips, Seller Services

Are you preparing to sell and looking to increase your house value? There are many things to think through but the most important is the return on investment (ROI). If you are considering upgrading your vanity bathroom cabinets for example, you should rethink that approach. The return on investment is only 66%. That is nowhere near as lucrative as simply cleaning and decluttering.

 

Increasing Your House Value
Home renovation and do it yourself concept with home construction and repair tools on wooden surface, top view

8 Improvements to Add House Value

  1. The return on investment for yard improvement is 303% according to NAR (or 400% according to This Old House). You are only going to attract bargain hunters if your yard is full of weeds.
  2. Repair (electrical, plumbing, etc.). The return is 299%. Homes that need essential repairs are not going to get top dollar in the marketplace.
  3. Declutter and Clean. Return 403%. This simple thing with an average cost of $400 is one of the most value adding improvements a seller can make. If you get professional assistance it will likely increase the ROI even higher.
  4. The HomeGain website states the ROI for new carpet ($671) is 160%. If the carpet in your home is clean and in good condition money is likely put to better use elsewhere.
  5. The ROI here is 196%. Professional stagers can help to draw attention from parts of the home that are too expensive to revamp.
  6. Brighten and Lighten. Boost the light by cleaning windows or giving a fresh lighter coat of paint to a dark room. You can even choose higher wattage lamps. While all the return figures for increasing your house value are different depending on what you do, they are all going in the positive direction.
  7. Improve appliances. While entire kitchen remodels are far too expensive to have a good return on investment to increase your house value, minor kitchen remodels have an ROI of 79%. Replacing old kitchen appliances is also a great way to increase your house value.
  8. Declutter and Clean. Yes, it is that important and that valuable!

 

When Should You Sell Your Home?

If you are looking to sell and in need of some advice about what your home may need in the way of improvements to get top dollar, give us a call today! We would love to help you with this and all other facets of selling your home.

 

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