House values have risen dramatically in recent years. This makes homeowners everywhere think about the value of their homes.
The rise in house prices means many are more inclined to consider selling and moving, either to improve their situation or to cash in on the recent boom. And even if they don’t think about selling, many will be pondering the value of their home.
Whether there are big price rises in your local area or not, there are of course many things you can do to increase the value of any property. These range from major extensions or garden landscaping to tiny jobs like painting the front door or putting out some nice pots of flowering plants.
It doesn’t matter whether you are doing a large project like building a garage or converting an attic or a more humble idea like laying new carpets or fitting new taps, all these things can either make your home sell quicker or increase its value.
There is another reason for doing them too: it makes it nicer to live in the property anyway.
So even if you decide to stay forever, you will have more room to enjoy if you convert your attic and you’ll get more from your outdoor space if your garden has been beautifully landscaped.
All properties have a financial value in today’s fast moving world – but they also have an emotional and practical value to those who live in them too. So there are several reasons for investing in home improvements – it’s not all about cashing in on price rises.
But which of all the possible improvements makes the most difference? Which development ideas would add most to the value of the house?
It’s not an easy question – sometimes a huge exciting improvement will make your home’s value soar – it could be a well-priced brainwave. But it may be the opposite and cost a huge amount to do.
The value of any improvement always needs to be balanced against the cost involved.
Some jobs, like building a swimming pool or tennis court for example, may cost more than the increase in value to your home. Others, like painting the windows or tidying up the front garden could be very cost-effective.
Some of this depends on the skill of the job. If you can trim the front garden and paint the door yourself it won’t cost much – but could have a big impact. If you need specialist architects, planning and builders, the costs of any improvement might soar beyond any potential increase in value.
The first things to consider are the factors that influence ‘kerb appeal’. Many viewers will look at one internet photo to make an initial judgement.
Your home needs to maximise the value of that first impression. These can be some of the cheapest and most effective jobs.
Consider painting all surfaces of the front of the property and making the front garden and driveway as appealing as possible. New windows, doors and driveway surfaces can all be cost-effective.
Bigger jobs need to be considered carefully. Sometimes just building a garage or outbuilding could be enough to boost your home into another price range altogether.
Shop around carefully. Ask building experts and property agents for advice.
It may be for example that a steel outbuilding could be a simple cost-effective answer to increasing the total size of your property – where a block construction would be more expensive than the rise in value.
A garage or attic conversion can add another large room to your house, which can be a big boost in value. Look at local prices of similar houses that have an extra bedroom – what is the price difference?
If it easily covers the cost of conversion it could be a great decision. And don’t forget that if you decide not to sell – you will have the benefit of the extra space in your home for as long as you stay there.
Bonus Tip: How to Properly Negotiate the House Price?
You do not have to be a real estate agent to understand that all the tips from the above will help you improve the value of your house. However, that’s not it. There are a few more things you can do to boost the price. As you can conclude, everything depends on your approach and ability to negotiate with the other people.
If you have never sold a house so far, then we do understand that you deal with lack of confidence. However, things are not as difficult as you think. Indeed, houses that come with a quonset garage like those that you can find at steelmasterusa.com will probably be easier to negotiate. But, even if the building you are selling is old, it is not the end of the world! Here are all the pieces of advice that we have prepared for you.
Learn How to Highlight the Positives
Well, this is the charm that many real estate agents know how to use. Generally speaking, we are 100% sure that there are things around your house that work perfectly. We do not invite people to lie. However, we do invite people to learn how to highlight the positives that their house has. Let’s say that you renovated some of its parts. You should talk more about them than about the parts that need improvements in the future. That way, you will leave a better impression on the person that is buying the house.
Start with Higher Price
This is one of the oldest tricks that is present even today. Generally speaking, you should never start the selling process without determining the price of the house. If you think the value is 50k dollars (or you want to get that much), the starting price should be 55k. Of course, we have to say that you need to keep objectiveness in these cases. You can’t boost the initial offer too much. People won’t even contact you if they see an unrealistic price. But, a couple of thousand dollars is a completely legit way. You will give yourself space to “negotiate” while not harming your interests. Cool option, isn’t it?
Hire Real Estate Agents
Well, some people are simply not talented at negotiating. If you are one of them, then hiring a real estate agent may be a good choice. This is not a cliche piece of advice and there is a good reason why we share it. Many people hesitate to do that because they have to pay a commission for this type of service. But, real estate agents can assure you a better price.
Let’s turn the example into numbers. You believe that selling a home for 50k is impossible. So, you decide to reduce the price by 20%. With real estate agents, these reductions would be unnecessary. He or she will manage to keep that price and take 10% of the total value from you. THat would basically mean that you would not have to reduce the price to 40k. The price will remain the same, and the real estate agent will get 5k. In other words, your bank account will be boosted with an additional 45k.
The example we delivered can serve as a good proof that hiring a real estate agent is a good option. But, don’t consider it perfect. Just like anything else in life, it has its positive and negative side.