Selling Your Home
Increasing Your Property Value
The most commonly asked question when looking through a client's home is "what improvements can I make that will increase the value of my property?" Many people make a profit by buying properties, improving them and then reselling. You may not be in the property investment business, but the main concept still holds true.
Here are some insights into the home improvement game and some guidance into the best areas to focus your valuable time:
Market Value
Put in a Nickel, Get Back a Dime
Put in a Nickel, Get Back a Dime
The market value is the price you can expect to receive for your home. This is based on location, motivation, market conditions, and of course, features and improvements. When making any major upgrades to your home, it is best to be sure that you will see a tangible increase in the market value when it comes time to sell your home.
Put in a Nickel, Get Back a Dime
Put in a Nickel, Get Back a Dime
Put in a Nickel, Get Back a Dime
What is your time and effort worth? Too many times we meet people who are eager to do the work, but don't consider the buyer's perspective. Some people may pay more for features that won't matter to others. The Murray Group connects you with professionals to determine if the improvements you chose will be worth it and provide a return.
Saleability
Put in a Nickel, Get Back a Dime
Saleability
The saleability of a home is best described as the overall impression your home leaves in the minds of potential buyers. These simple maintenance items may not add dollars to your market value, but will certainly ensure that your home sells quickly and as close to your desired asking price as possible.
Flooring
Bathrooms
Saleability
Upgrading from carpet to hardwood and tile can make an enormous difference. It is important to focus on the look rather than the price.
Kitchens
Bathrooms
Bathrooms
The kitchen is usually the focal point of the house. Open concepts and modern colors are key to increasing your home's market value. Consider refinishing existing cabinets and replacing the counter-top to save money.
Bathrooms
Bathrooms
Bathrooms
Freeing up room in the bathroom makes a big difference. The addition of modern looking tile goes a long way to help increase your home's value.
Paint
Floor Plan Alteration
Floor Plan Alteration
It is always good to refresh both interior and exterior paint where needed. Use neutral or modern colors and unless you are a professional, it is usually best to avoid creative patterns and murals.
Floor Plan Alteration
Floor Plan Alteration
Floor Plan Alteration
Many people like to entertain and see their guests. When you enter into an open concept home it makes the space feel much larger than it actually is. Also, three small bedrooms may work better as one large owner's suite and a spare bedroom.
Professional Basement
Floor Plan Alteration
Professional Basement
When completing your basement it is best to always use builders, contractors or professionals. Poor workmanship will be adjusted for at the time of the sale. You can do some work yourself, but leave the finishing to the professionals.