Hold on to Your Home, Reap the Rewards
The standard rule for home equity is that it requires about five years of residency to make the home purchase a better financial decision than renting. Your home value triples between the fifth and tenth years of ownership.
Paint to Sell
If you're selling your home, one of the cheapest and easiest ways to add to its value is to add a fresh coat of paint. Don't go for colors that are too out there because a potential buyer will want to imagine what their own color scheme will look like on your walls. Go for classic or neutral colors. That will appeal to the broadest group of buyers plus create a sense of space and coziness, which can convert to dollars when it comes to the sale.
Make Space
Potential buyers are looking for more than just comfortable living space. They're looking for storage space, too. Make sure your attic and basement are clean and free of unnecessary items. An organized closet can appear larger. For a spacious look in the bedroom get rid of excess furniture.
It's the Little Things That Count
You don't have to spend big to impress buyers. Cosmetic changes are inexpensive but persuasive. Remember a lot of buyers like to put their own personal imprint on a new home, so if you make substantial alterations, like knocking out walls and combining rooms, it might not appeal to everybody. Half of potential buyers will want to live in the house as it is, while they make up their minds about additions. The other half will want to begin rebuilding the moment they get the keys. Don't limit their choices.
Kitchen Trends According to many real estate agents, the room that attracts the most attention among home buyers is the kitchen. The current list of "must haves" includes:
- The latest kitchen with gas cooking;
- Stainless appliances;
- Granite countertops; and
- Nice cabinets.
Showing Your Home
Presentation is everything. The first impression you give to potential buyers can either create a buzz that will have them competing for the sale or turn them off without a second look.
Some tips on showing your home:
- Try not to be home when your house is being shown. Visitors will feel like intruders, whereas you want them to feel at home.
- Turn on all indoor and outdoor lighting. You house will feel more welcoming.
- Use natural fragrances such as potpourri instead of scented sprays when preparing for visitors.
- Empty trash every time a visitor comes. It will send a clean, positive image of your home.
- Remove clutter. Your home needs to feel spacious and low maintenance.
|