Why Real Estate Investing Makes (Dollars and) SenseINTRODUCTIONTurn on the television or scroll through Facebook, and chances are youâ€™ll see at least one advertisement for a
Surefire Tactics To Getting More Money For Your Home
All home sellers hope their place will fetch a big, fat price. And while you canâ€™t control everything that determines a houseâ€™s market rateâ€”like, say, the state of the stock market or the quality of your local school districtâ€”there are plenty of things within your power that can nudge that number higher. A lot higher, in fact.
Granted, manipulating your homeâ€™s selling price will take some work, and usually some money. But time and again, these proven strategies make a big difference in final sales prices. Try a few, then prepare to do a victory dance on the big day you get your offer(s).
Tactic 1: Bite the bullet and make smart upgrades
Yes, overall renovations to your home will nudge up the price, although not always as much as you might hope: According to Remodeling magazineâ€™s 2016 Cost vs. Value Report, youâ€™ll get back an average of 64% on whatever upgrades you paid for. But that ROI varies widely based on what type of improvement you do. The most profitable upgrade isâ€”drum rollâ€”insulating your attic. It may not be all that sexy, but youâ€™ll recoup 116.9% of your costs. Itâ€™s the only home reno in the report that redeems more money than you spend!
Tactic 2: Boost your curb appeal
You RealtorÂ® has probably already told you: One surefire way to jack up your sale price is to knock â€™em dead before they even reach your front door. So spend some time and do it for real. Improving your homeâ€™s curb appeal can increase your sale price by up to 17%, aTexas Tech University study found. Basic landscaping such as trimming hedges, pulling weeds, and pruning trees is a must.
"Adding pops of color by staging your front porch with potted flowering plants on each side of the front door and planting flowers in the garden beds in your yard will improve the curb appeal", says Tony Landaverde, Realtor with eXp Realty in San Antonio Texas. Consider installing white panel lighting along railings, fences, or doorsteps to make your homeâ€™s exterior visually appealing for evening showings. Other low-cost projects to improve your homeâ€™s appearance include putting a fresh coat of paint on the front door, updating the house numbers, and adding porch furniture.
Tactic 3: Create the illusion of more space
It goes without saying that a higher square footage fetches a higher sum, but you canâ€™t do anything about that, right? Not so fast: Your homeâ€™s actual specs donâ€™t matter as much as how spacious rooms look when youâ€™re standing in them. So be sure to create an open, inviting space. That entails removing large pieces of furniture such as the oversize coffee table (it might look nice, but it could be blocking foot traffic).
"If you're already using your garage to stow things, you should consider renting a storage unit", says says Tony Landaverde, Realtor with eXp Realty in San Antonio Texas. If your home has beautiful hardwood floors, show them off by removing large rugs, and clear off your kitchenâ€™s counter space by putting away blenders, coffee makers, toaster ovens, and other small appliances, she advises.
Buyers are particularly attuned to closet space, so move off-season clothes into storage to give the illusion the home has plenty of space for storage.
Tactic 4: Hire a professional home stager
Have â€śeclecticâ€ť design tastes? Your personal aesthetic might put off some buyers, so move all your knickknacks into storage and hire a home stager. Itâ€™s true that these professionalsâ€”who tweak your space to make it more appealing to buyersâ€”arenâ€™t cheap, but they can be well worth it.
On average, staged homes sell for a whopping 20% more money than nonstaged ones. Staging may be particularly important if youâ€™re in the process of moving, and some rooms are vacant. Make sure your living room and kitchen are fully furnished, since theyâ€™re the most important rooms to buyers, according to the National Association of RealtorsÂ®â€™ 2015 Profile of Home Staging survey.
Tactic 5: Pick a neutral color palette
Maybe you painted your daughterâ€™s room pink, or thought lime green was perfect color for for the kitchen. (We all make mistakes!) However, bright colored walls or bold patterns can turn off buyers, says Tony Landaverde, Realtor. So consider hiring a professional to repaint the house throughout in a neutral color such as off-white or beige. Or if you have the time, you can cut costs by painting it yourself.
Thank you for this great article entitled "Surefire Tactics To Getting More Money For Your Home" by Daniel Bortz
Presented by Tony Landaverde, Realtor
San Antonio, TX Realtor with eXp Realty
A Texas Licensed RealtorÂ® License #607299
For information on careers with eXp Realty click on the link: Tony Landaverde eXp Careers
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