Published On: Mon, Feb 19th, 2018

House Not Selling? Enhance the Value

If your home has been on the market for a while and it’s failed to gain the sort of traction you had originally hoped for, it may be time to think about different ways you can enhance its value. There are numerous tricks of the trade.

photo Alina Ku-Ku via Shutterstock

Do you know where to start?  

4 Ways to Increase the Value of Your Home

“When your house isn’t selling, you have two options: you can either lower the price of the house, or you can enhance the value,” Green Residential points out. “If at all possible, you want to avoid dropping the price. Before grabbing your calculator and calling your agent, think about ways you can add value.”

Not sure where to start? Here are a few cheap, practical, and efficient ways to increase your home’s value and get more at the closing table.

  1. Update the Kitchen

The kitchen is the place to start. It’s the first room in the house prospective buyers will gravitate towards and it’s also the most cost-effective to renovate.

Countertops, flooring, and backsplashes can all be updated for just a few thousand dollars, but it’s also wise to think about updating to stainless steel appliances – which can set your listing apart.

“Though it has been around for decades, this appliance finish conveys clean, contemporary design, so it will signal ‘updated’ in the mind of the buyer,” Daniel DiClerico writes for Consumer Reports. “For the latest spin on stainless, look for new versions of black stainless steel from KitchenAid, LG, and Samsung, each with a softer, less reflective finish but the same cachet as the original.”

  1. Create Some Space

If you’re selling an older home, chances are the floor plan is a little choppy. Older homes feature clearly segmented rooms and lots of doors and walls. The problem is that modern buyers want open floor plans.

One of the best things you can do is create space by knocking out non-structural walls, removing bulky kitchen islands, and widening openings from one room to the next.

  1. Freshen the Landscaping

First impressions are everything in real estate. If you only have a few hundred dollars to spend and don’t want to do much to the house itself, you can make a big splash with landscaping. For best results, pull weeds, rake leaves, prune bushes, mulch beds, pressure wash hard surfaces, and add color with seasonal flowers.

  1. Show the Floor Some Love

Flooring is something that is relatively inexpensive, but makes a huge visual impact on prospective buyers. For carpeted areas, it’s best to go ahead and replace old carpet. Not only is it cheap, but it will make the house smell a lot newer.

If you have old hardwoods that are scratched and discolored, it may be worth it to pay a professional to sand them down and refinish the original flooring.

For cheap looking linoleum and laminate flooring, switch to a newer product like vinyl floor planks. Visit your Home Depot or Lowes and look at their options. You’ll be shocked by how much the new vinyl products look like real hardwood. Best of all, these products can usually be purchased for $1.50 to $3.00 per square foot and installed with virtually no flooring experience.

Don’t Go Overboard

Replacing the floors in your kitchen can lead you to repaint the walls, which causes you to replace countertops, which spills into the living room, and on and on. It’s easy to get carried away when you start doing home renovations, so make sure you establish a budget and stick to the plan. If you go overboard, you’ll end up losing money in the long run.

Author: Anna Johansson

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