The real estate market is cyclical. There are times when sellers have the advantage, and there are times when buyers have the advantage. Then there are times when there seems to be a stalemate. As a homeowner, when there is a seller’s market, you may get away with making minor adjustments to your home to get it in salable condition.
However, when there are periods of stalemates or down markets when buyers have the upper hand, you must do more to get buyers’ attention. During these times, you must make tough decisions about what upgrades add the most value to your home at closing. Here are some design trends to consider when you want to increase your chances of selling your home for the most value possible.
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Outdoor Boosts
When upgrading your house, the most important ones will be those outside your home. Buyers will start making decisions about purchasing based on what they see before they enter. So make sure you invest plenty of time and money here.
1. Enhance Curb Appeal
Homeowners should devote plenty of time to enhancing curb appeal since the front of the home will be the most apparent feature to home buyers. Ideally, this part of the house should be picture-perfect. So it is critical to make upgrades here.
One of the best enhancements for curb appeal is simple lawn care. Cutting the grass, adding mulch, trimming trees and shrubs, and controlling weeds will improve curb appeal and value significantly.
2. Add a Pool
A pool may add substantial value to the home, depending on the type you install. Most above-ground pools won’t add much value or any at all since they are considered fixtures. However, since in-ground pools are permanent, this will yield a better return on investment at closing. It is ideal to choose a gunite or fiberglass pool to install in-ground. But the type of pool you choose will ultimately depend on your budget.
3. Replace Your Garage Door
A rickety, faded garage door will harm your home’s value. So, when you’re trying to sell your home for the most value, replacing garage doors is a good idea.
4. Upgrade Mailbox
Nothing is more distracting than having the perfect outdoor setup but a raggedy mailbox. Although this may not seem important, a buyer will notice when your home is in pristine condition and the mailbox isn’t. Although it won’t add much value as other outdoor upgrades, at least it won’t subtract from your home’s overall value.
Indoor Boosts
You can never go wrong with upgrading the primary bathroom and kitchen when making indoor enhancements. These upgrades will improve your home’s ROI by 70 percent or more. In addition, even simple remodeling will add value. Besides these two major areas, here are some more upgrades to consider that could make your home more appealing to buyers.
1. Add a Home Office
Since the pandemic, work from home (WFH) has become the norm. Either people have jobs in which they work entirely from home, or they work hybrid, part of the time at home and the other part on-site. As a result, interest in functional home offices has increased tremendously over the past few years. So, when making upgrades, include a designated area for a home office.
2. Finish a Basement
When selling a home with a basement, it usually doesn’t count as part of the square footage if it isn’t finished. But when it is finished, this space could add tremendous value. This is especially true if the basement has a separate entrance.
Conclusion
If you want to make your house more valuable, especially if you plan to sell quickly, it is a good idea to focus on what will add the most value indoors and outdoors. However, remember that not all upgrades will yield a high return on investment. So, it is a good idea to research which upgrades make sense for your budget and apply them accordingly.
