How To Increase Your Home’s Value

Hi, Kevin Yoder, Yoder Real Estate, powered by EXP. Back again for another answer to a really great question we get all the time, is how can I increase my home’s value?

Now before I answer this question, I want to make sure that we’re clear on this, is that there are actually two ways to answer this. And that is one, is before I sell my home, and two is for the longevity and the future property value and being able to enjoy those improvements. So, let me split this answer into two possible answers. So, if you’re in the camp of, “I’m going to sell this year,” let’s pay attention to number one, because the answer is going to be different. So here are some things that you can do before selling.

Low Cost, High Return Improvements

Before you sell your home, it is advisable to focus on those low cost, high return items, because if you sink a hundred thousand dollars, for example, into a whizzbang, over the top, crazy awesome full-on kitchen remodel, it’s highly unlikely, in fact, almost impossible, in fact, never has happened that you’re going to get that money back when you sell it, let’s say two or three, four months down the road. So, let’s focus on some things that you can do that’ll cost very little relative to the possible gain that you will get on the marketplace.

Low Maintenance Kitchen Remodel

So, number one, a low maintenance kitchen remodel. This would include refinishing cabinets, putting new knobs on, replacing countertops, and perhaps some flooring. We’re going to freshen this puppy up and make sure that it looks awesome online, of course first. And there’s a lot of great companies out there now that will do cabinet remodeling and refinishing that’ll make it look almost as good as new.

So a low maintenance kitchen remodel, update it, get rid of the formica, maybe put in granite or something that’s going to be updated, or even a granite look is great. There are formica countertops that you can get that look of granite. Number two is paint. Clearly, we’ve got to upgrade the paint. There’s something to say for that. When you’re walking around in a home and there are chips and marks and just maintenance issues that need to be addressed with homes, that’s one part of it. So, if you have rubs and scuffs, it doesn’t take much to have somebody do that for you, or you do it yourself and just walk around the house and update that. But if you have rooms that the colors are not in alignment with today’s preferred pallets, just understand what’s at play here.

Neutralize Your Space

The buyer is going to fall in love with or fall out of love with your home, first and foremost, what they see online. And so, in order to open the marketplace up to your home, which simply means to appeal to more people than not, then adjust your mindset on this. This is not about being your home and this is a color you love because people are not like you. So think about what most people would like and then lean into that and neutralize the space. Okay, so we have low kitchen updates, we have paint, doorknobs and light fixtures. Super easy. Make a run to home Depot, trade out those gold fixtures and replace them with brushed nickel as an example, something more modern, contemporary. Replace the outlet covers. Those are another area. Make them all match. It’ll cost you a couple hundred bucks, but the return will be more of a how does this home feel to me from the buyer’s perspective.

Low Cost, High Return Landscaping.

Clearly, they drive up, they see the home. This is the first impression. As we all know, we’ve heard it a million times that a first impression is a lasting impression, and you can’t get a first impression twice or again. So why not give the buyer the best possible version of your home when they drive up to it? It’s the first impression they have. So, shrubbery, bushes, landscaping, grass. If it’s summertime, make sure everything is trimmed up real nice. It’ll go a long way.