While you’re happily living in your current home, you should always keep in mind that what you do or don’t do could be adding value or taking away value from your property. Here is a list of things that can help you or hurt you when it comes to protecting your home value.
The Good
- Pay attention to the kitchen in your home. There’s a reason why real estate agents will tell you that kitchens sell houses. They do! Keep your kitchen clean and updated because this is at the top of the list for potential home buyers. This doesn’t mean that you have to totally renovate your kitchen to make it appealing. Adding new paint, upgrade to stainless steel appliances, and add upgraded countertops. Just these few improvements can add significantly to the value of your home.
- Energy efficient homes are more popular than ever in the current market. Upgrade to an energy saving water heater, replace regular light bulbs with LED lights, and make sure windows are well insulated. These changes will lower your own energy costs while you’re living in the home, but they will also increase the value when it comes to resale.
- Make good use of additional spaces in your house. If you have a basement, it’s in your best interest to have it finished. Potential home buyers will envision using this space for an office, a guest area, an entertainment area, or a space for family members and caregivers. Either way, you win with getting to use the space now and benefit from the added value to your home.
The Not So Good
- While you may find it hard to part with your old car or your piles of newspapers, they can hurt the value of your home. Clutter, whether located inside or outside, is a turn off to potential home buyers. A neglected yard will give the impression that the rest of the house and property has not be cared for properly. Manage your collections and make sure you take care of the outside areas that surround your house. This includes removing hazards such as bee hives, wasp nests, and other pest problems.
- Costly bathroom upgrades might seem like a good idea, but in the end they can just be a waste of time and money. Instead, focus on keeping things maintained at a high level and highlight the most appealing features of your bathrooms. If this is an upgrade that you feel is important to your quality of life, then by all means move forward, but understand that you are unlikely to get the entire return on the investment you make doing the renovations.
- Think adding a pool will help increase your home’s value? You may be right, but in some cases it can be a negative point with potential home buyers. Many people might appreciate the appeal of the pool and the potential for entertainment opportunities, but just as many other people will see it as an additional expense and something that takes too much time to maintain. Weigh the pros and cons when deciding on whether to add a pool to your property.
These are just a few of the things that can help or hurt the resale value of your house. If you’re thinking of doing some upgrades with the intent to sell your home, check with your real estate agent. They can better advise you on what makes the most impact for your dollar in the current market.
Give The Mixon Team a call today at 985-277-1063 to discuss how they can help sell your house.
