When thinking about putting your home for the market, there are a few updates and areas of your home that come to mind. Kitchens and bathrooms are the most popular. However, there are other factors that contribute to the final resale value of your home.
Are Updates or Renovations Worth It?
Updates and renovations improve the overall look and feel of your home and it’s easy to think that these upgrades will no doubt increase your home’s value. However, this may be incorrect and here’s why. Compare your home to other houses in the neighborhood. Evaluate the actual location of the home prior to spending a ton of money on big renovations. Where a home is located plays a huge part in its resale value. It often determines the maximum a home can go for. If you spend a large sum of money on home updates and overvalue your home for its area, chances are you will not be able to make this money back and will lose money instead.
General condition and/or age
The age of your home often plays less of a role in resale value than condition does. If your home is in excellent condition and is older, it has a better chance of selling, and at a higher cost. In comparison to a new home in horrible condition. Also, when a home reaches a certain age, it becomes “historical” and that can actually increase its resale value.
When you are considering and evaluating the condition of your home, this should encompass both the interior and the exterior. Some exterior areas of your home that are very important, are your roof and your gutter system. These are important lines of defense in protecting your home. If a potential buyer notices that they have not been maintained properly they understand the dangers of this, as well as the cost associated with these fixes and/or the larger problems their ineffectiveness could have caused.
Before even taking photos of your home for a listing, make sure these areas are updated, inspected and well maintained. You may be surprised how much your home’s curb appeal can increase from just updating a roof and/or gutter system! You may even want to take your gutter update a step further and consider a specialty gutter material to increase this appeal even more. Also, gutter guards can be a great selling point for buyers because this means less gutter maintenance and cleanings for them.
Layout and size
Interestingly enough, the size of a home is playing a large part in a potential buyer’s decision making process. In recent years, a smaller home has become increasingly appealing to buyers. A larger house means more upkeep, more maintenance, and a less homey feel. The layout is what appeals to most more. Open concept is a huge selling point because it gives off the impression of a larger home without paying for, or maintaining more footage. Also, the number of bedrooms is very important, especially for families, or for those that are imaging starting a family.
Location Influences Resale Value
Location has always been, and probably always will be, one of the leading factors in determining resale value. School district, safety, and the sense of community within the area are the most sought after and analyzed features by buyers. Also, transportation, parking, and traffic are important factors homebuyers will likely consider when coming to an open house.
If you are ready to sell your home and you have not considered any of the above, you may want to before listing. If your budget only allows for a few updates, consider wisely which ones will pay off the most! When it comes to condition and appearance of your home, updating or repairing your gutter system is one of the easiest. It also the most cost-effective way to increase your home’s curb appeal, and in turn, its listing value. If you need a new gutter system or roof before putting your house on the market, call Industry Elite Services today!