The inventory levels in the United States housing market are shockingly low right now, which means the market is even better for sellers. There are always ways to increase the value of your home and get higher bids and higher quality buyers.
Realtor.com has come up with a list of affordable upgrades you can do to your property to make sure you are getting the best possible deal in this once in a lifetime seller’s market.
The first thing you can do is a professional deep clean, which would cost $500 or less. Quality buyers with deep pockets will be paying attention to the little details because they have their pick when it comes to bidding wars.
You might think this is not a big deal, but the front door is the essentially the first impression a buyer gets of your home, so a fresh coat of paint, clean/new lighting, upgraded doorknob or house numbers can make a big difference and will entice buyers to bid higher than they initially planned. This type of upgrade, depending on what you decide to do can cost $2,000 or much less.
With the pandemic changing the way we think about germs and bacteria, touchless bathroom and kitchen fixtures are extremely attractive to quality buyers. These upgrades can be done for a few hundred dollars, but they give so much value to a property right now.
There are also systems like the RenewAire system that lets in fresh purified air into the house a few times a day. This kind of system would attract buyers with deeper pockets, and it can be with less than $5,000.
It is a cliché, but it is true, a good kitchen can sell a home. Upgrading the kitchen and the bathrooms can be done with under $9,000 but it will add a lot more value to the property and bring in higher bids.
The pandemic has brought to light the value of having more outdoor space in your home, and one of the biggest reasons the housing market boom happened, was people’s need to buy homes with more/better outdoor space. Upgrading the outdoor space can cost as little as $500 but if you really want to go for it you can do a full backyard upgrade of $10,000. Either way you will get your money’s worth because of the higher bids.
Working from home has become a big part of our culture now. Many companies have decided to allow their employees to work from home even after the coronavirus is under control. Buyers would be more attracted to your property if you skillfully added a home-office or working space to your home before selling. You can do this with some creative design and furniture placement or you can spend some money on creating an actual professional space. You can do this with a few hundred dollars all the way to $10,000.
Are you wondering if these upgrades are necessary for your property? Do you think it may not be worth it? Do you know you need some upgrades, but you are not sure where to start or how much it will cost? Amin Vali Real Estate Investment can answer all your questions and help you decide what to do and more importantly what NOT to do. Amin Vali is a civil engineer with experience in construction and he can use his expertise on every part of your property.