For anyone who is looking to sell a home, it is always important to get the most on your return in a timely manner. There are many reasons that can cause your property value to fluctuate. Sometimes, homeowners can invest fortunes in unnecessary improvements that ultimately have no positive influence on the home’s value. To make sure you fully optimize the sale of your home, follow this guide and you’ll be able to navigate the pitfalls of property value in no time.
The Ups and Downs of Property Value
Increasing Value
Before undertaking any modification, it is wise to consult a local realtor to get a gauge on Long Island’s real estate market and possibly see what’s in the highest demand for prospective buyers. This will give you the upper hand in appealing to consumers. Otherwise, here are some other general tips that can raise your property’s value:
Tidy Up
It is hard to drum up interest in a home that is unkempt. Try to de-clutter and clean your house as much as possible. Maybe even hire a professional organizer. Buyers value depersonalization and open space, so this task can fulfill both expectations.
The Most Important Rooms
Be sure to replace and refurnish any aspect of your home that’s outdated or damaged. However, if a complete upgrade is too out of budget, you should hone your focus on the kitchen or the bathroom. Realtors say they are the most polarizing spaces in the home buying process because they bring in the most traffic.
The Paint Job
Also, going along with the general depersonalization of the home, you should repaint any rooms with outlandish and highly personalized color schemes. Opt to paint rooms with neutral tones, specifically white and off-white. This will make it easier for prospects to envision their own layout for the space.
The Exterior
Most potential buyers can make up their mind on a property within the first minute. Your home’s curb appeal is their first impression of the home, so make it count by sprucing up the lawn and other brush. Make sure nothing is overgrown and tend to the garden beds. Additionally, a power wash couldn’t hurt.
Decreasing Value
Anything under the home owner’s control will usually be remedied to preserve value. However, there are still many factors that can lower property value and can’t be fixed. Here are some issues that can contribute to a lower property value:
Pools
In the right location, pools can be a major enhancement. However, there are many places where they are purely detrimental to value. Some prospects may be scared off by the constantly required maintenance and expensive cost of upkeep and supplies. Families with young children may also be turned off as a safety precaution.
Bad Positioning
Unfortunately, close proximity to busy locations like airports, highways, and train lines may negatively sway a potential home buyer’s interest. These places tend to adversely affect peace, quiet and air quality. People will also be reluctant to buy homes in bad school districts and neighborhoods where there are abundant foreclosures.
The Yard
People tend to give high priority to the home’s exterior. A well-kept lawn and garden can go a long way in influencing a purchase. For instance, a sloped lawn will be a harder selling point for any lot. These types of lawns are more difficult and time consuming to maintain. Furthermore, large trees close to the home might be a liability because their roots can threaten the home’s foundation and eventually be a major headache down the road.
Once your home is ready to hit the open market, consult these tactics to get the most out of your sale.
