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What are some effective ways to increase the value of your home before selling?

Asked by Trulia, San Francisco, CA Fri Mar 2, 2012

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What are some effective ways to increase the value of your home before selling?

These are some things that I have done that have worked for me in selling a couple of investment properties, which were both older homes (read Challenging!)

1. Get a home inspection done and fix whatever the inspection requires that has to do with safety or function.

2. Look hard at the kitchen. In one kitchen, I started out being stubborn about not wanting to replace a st ove that was very functional, but a little scratched up. I finally saw the light and replaced the stove with a shiny new model. AMAZING how one new shiny appliance can update a kitchen!

3. And then there was the carpet and what I thought was good enough carpet. Good enough is okay for living, but not for prospective buyers! If the carpet needs replacing, just do it before any body is shown your home.

4. Clean inside and outside and then clean some more. Clean like you have never cleaned before. Clean as though if you don't pass inspection, you will have to do 100 situps!

5. Then the very last stage prior to putting a sign in the yard is to stage the home to add pizazz and buyer emotional appeal. I just helped another Realtor and her client with a staging consultation and the client completed the staging herself and the photos are fantastic. The latest word is that there is an offer coming!!!

6. Pull back the drapes, turn on all the lights, Leave the air or heat on at a comfortable temperature.

7. Turn on some soft music and relax, because your home is now ready for a sign to go in the yard. .
1 vote Thank Flag Link Fri Mar 2, 2012
Hello that is a great question. While upgrading a kitchen or bath can increase value, the answer truly lies in your own specific market. Certain neighborhoods have different trends, for example in Hoboken it's hardwood floors and stainless steel appliances.
So before seeking a one answer fits all I would recommend that you contact a local real estate agent to make recommendations relative to your market and type of home.

You may learn that making some upgrades won't yield you the return you are hoping for so best to get a professional opinion first.

Baths, kitchens, appliances, hardwood floors, and central air are changes that can produce high returns, but unless you've owned the home a long time or you purchase one well below market value ie a foreclosure it is unlikely to receive 100% of every dollar spent in return.

There are energy efficient changes you can make also which is popular and desirable in areas like Manhattan and you might qualify for a deduction on your income taxes.

Hope this helps!
1 vote Thank Flag Link Fri Mar 2, 2012
First take care of any glaring problems you can afford to take care of on your own.

make sure the home is clean and organized and in a presentable form. Appearances have a great impact, so any amount of cosmetic fix-up is highly recommended. it is probably time to do that paint job you've been putting off.

Often improvements to the kitchen and bathroom areas are considered to be best bang for the buck in terms of raising the property value, but you have to be careful not to over-improve. A house in a neighborhood where the average price of similar properties is 70,000 will not magically increase in value by 30,000 if you put in 20,000 into an amazing kitchen and bathroom update. Be conservative in relation to your property's price range.

Landscaping is another easy way to increase curb appeal. In a lot of cases you can do a whole lot by trimming, removing plants that don't work with the house, and planting others that enhance its beauty.

Amos Elroy, SFR (Short-Sale Specialist Certified)
Residential Real Estate Investment Consultant
Lic. Realtor Associate
EXIT On The Hudson Realty
(888) 462-6573 / (888) HOB-NJRE
FAX (888) 462-6573
Office 201-437-0411

Twitter & Facebook: HobNJRE
Web Reference: http://www.HobNJRE.com
1 vote Thank Flag Link Fri Mar 2, 2012
Together with your realtor, factoring a budget and time. It important to have the exterior in good shape, the yard show owner pride, and the kitchen and baths to be current to a degree. Buyers love granite tops, stainless steel appliances and current day flooring. keep your window coverings open, windows cleaned and get rid of the clutter.
Web Reference: http://srjrealestate.com
0 votes Thank Flag Link Wed Mar 7, 2012
If you have a budget for improvements, focus on those areas that drive sales - kitchen and baths. Whether you improve/upgrade or not, investing in a thorough and professional cleaning is a must. Then hire a stager, you don't have to go overboard, but taking a home from "lived in" to "inviting" is money well spent.

All that said, do not count on recouping every penny you spend, but if you do these things, price your home propery and hire a great agent that will market your home explosively - most especially online where the buyers are - you'll succeed.

Jeanne Feenick
Unwavering Commitment to Service, Unsurpassed Results
0 votes Thank Flag Link Wed Mar 7, 2012
Each home is very differant. All the advice below is important. But nothing is as helpful as a visit from a Realtor who is skilled at Staging the homes they List.

When you are interviewing Realtors, make sure you ask this same question when they visit. It will be pretty clear who is most skilled at it.
0 votes Thank Flag Link Fri Mar 2, 2012
Here is something that may help.

Search foreclosures and short sale here: http://www.BuyNJShortSales.com
Search the MLS on your phone by Text: In the subject line on your mobile phone- LSAR1 -to number 87778 ... hit send... A GPS feature for listings at your finger tips
Larry Sarlo
RE/MAX Preferred
609-868-1171 call / text / email 7 days
0 votes Thank Flag Link Fri Mar 2, 2012
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