There’s no doubt that the real estate market is impeccably competitive, given that there are numerous properties for sale at a meager price. This makes the competition among home sellers pretty tight, so if you’re planning to sell your home in the future, it’s critical to maintain its value, or better yet, increase it along the way.
First of all, you need to know that buyers don’t just rely on the physical appearance of a property. Even though that plays a huge role, they still look into the most important details that affect the home’s value. Before we discuss how to keep your house sellable, let us first distinguish the determinants of the property’s value.
What Determines a Home’s Value
Future development in the area
As a homeowner, you need to be aware of the amenities around your property. Still, you should also be mindful of future municipal and commercial developments. The value of your home will significantly increase if it’s located near a public infrastructure, mall, hospital, or school.
Location of the house in the neighborhood
Not all houses in the same area have the same value. In most cases, properties in corner lots are more expensive than others. Further, homes in inner areas are primarily in high demand than houses near a busy highway because it’s practically safer for the family.
The age of your neighbors
You might think that your neighbors don’t affect your home’s value, but that’s where you’re wrong. Many home buyers consider the age of the neighbors of the house they intend to buy as it can impact their lifestyle. For instance, a family with little kids would likely prefer to live in a neighborhood with plenty of kids so their children can have playmates.
Maintaining Your Home’s Value
It’s not that hard to maintain your home’s value. Often, it only involves taking care of the house and ensuring that everything works fine. However, a few renovations here and there can make a difference.
If you’re planning to make major renovations in the house and it’s still mortgaged, speaking with your mortgage loan provider first is ideal. Sometimes, loan agreements involve policies about home renovations. Let them know that you need to make a few changes to the property.
Yet if you want to keep things low-key, here are some tips in keeping your home sellable at the right price.
Consider a garden
A garden can make a house extremely beautiful, but it has to complement that style of the house. Many homeowners and buyers love gardening, so it would be wiser to consider putting up a garden to increase the value of your home.
Before you start, take a look at your entire house, then plan a garden that would suit its personality. A garden style that seems too awkward for the home may turn off potential buyers.
Be aware of pet odors
While there is nothing wrong with owning a pet and letting them inside the house, it’s essential to be cautious of their odor. The natural odor of your pet can easily penetrate your home and make it smell awful in the long run.
Over time, you may develop odor adaptation, where you no longer notice the smell of your pets. This smell can repel away buyers, constantly affecting how fast you sell your home. If you have pets, regular cleaning and brushing the carpet is a must.
If possible, consider setting up an outdoor sleeping area for your pet so that they don’t have to spend a lot of time inside the house. But of course, this would depend on the weather outside.
Don’t even think about illegal additions
Most major home renovations typically need permits from the municipality. You need a building permit to update your plumbing and electrical systems, put up a new fence, install new windows, and many more.
Why do you need permits? Permits are essential for several reasons, such as:
- It’s a requirement in selling the house.
- You could get penalized.
- You might need to re-work the renovated space to make sure it follows the code.
- The appraiser will most likely not include the renovation in case of a future appraisal, significantly lowering the value of your home.
Fix the appearance of the house
First impressions last! So make sure that your house looks appealing to anyone who sees it. Weird paint choices, awkward window styles, rusty gates, and broken fencing usually screams, “Not worth the money.” Fix the appearance of your house according to your personal taste but make sure that it stays attractive in general.
- Reseal your deck
- Clean your gutters
- Repaint the house regularly
- Clean your attic
- Keep smoke detectors in check
- Make sure everything works
- Aim for superb interior
- Avoid clutter
Buyers are usually very meticulous. After all, a house is an investment. No one would want to waste money on something that doesn’t even look great at all. Follow these tips to maintain the value of your home.