I have heard the question asked a thousand times. What is a house worth? Typically the first thing you hear is the common 1 mile radius comparable sales answer. I happen to believe that a house is simply worth (drumroll please) whatever someone is willing to pay for it.
Now, this can be to the benefit of the seller or to their detriment. So I have created this post to help those wanting to increase their property value. Be it to prepare your property for sale or to increase equity for leveraging purposes with your lending institution.
If your street has a rundown vacant property on it address it. Contact a company like 123BuyMyHome.com . Shameless plug? Well not really, I'll tell you why. You see, the same way that a derogatory credit item pulls down your credit score so does an abandoned house on your street. Heres how. When buyers enter the market they typically shy away from the area where vacant, distressed, and deferred maintenance properties are. This in turn causes you to miss out on higher purchase prices. Calling a company like 123BuyMyHome.com will allow you the opportunity to have a professional renovation team to come in purchase the neglected property, stabilize it, renovate it, and resell it. This new (higher)sale price will be a comparable sale for your property . You will also earn a nice paycheck from us for referring us to the property once we close escrow. Use the money to make the following improvements . Increase your property value and your bank account balance ;)
#2. Baths And Kitchens
So, who wants a house with bathroom that looks like the bathroom at the Sunoco around the corner? I didn't think so. We all know that the woman typically make the final decision and she is tuned in to aesthetics like hubby is to football on a Sunday afternoon. So with that in mind, accommodate your buyer by giving them what they want. A quick refresh works every time. For the bathroom, a new vanity, vanity top, backsplash and faucet creates an update that allows the buyer to imagine completing the bathroom without having to do a complete overhaul. Same concept for the kitchen. New floor and a new backsplash. Or maybe just paint the cabinets and add new handles. If you decide to buy new cabinets reach out to Paul at www.rbsUnlimited.com (513-898-9450) and provide him your current cabinet dimensions and he can provide you wholesale pricing for your cabinet needs.
#3. Paint Paint Paint
There's something magical about a freshly painted wall. It screams NEW, FRESH, CLEAN. Paint the foyer or mudroom. This initial view introduces the buyer to the home as they immediately recognize improvements have been made. Paint a hallway as well. The hallway dictates the flow of the home and is the conduit that connects the different rooms. When they leave out of a room they have to walk through the hallway again. They will frequent the hallway many times during their walk through and appreciate the fresh newly painted walls.
Increasing your value is not always synonymous with increasing your stress level.