Here are six good reasons to bring your home into market ready condition, whether or not you want to place it on the market.
First in an extreme sellers’ market prices can rise sharply and cause you to change your mind. You might not sell your house now, but if a buyer would pay an additional $80,000 over what you currently think the home is worth, perhaps your thinking would change.
Upgrading your electrical and plumbing fixtures will improve the marketability of your house, but will also lower your utility bills as long as you stay in the house. This also applies to adding insulation, replacing windows and doors, and adding a high efficiency heating/cooling system. Even if you do not replace the HVAC system, simply having it regularly maintained will be of great help, now and in the future.
Remodeling your kitchen will go a long way to impress a buyer on the open market, but in the meantime you will get the enjoyment of using those upgrades as long as you are in the home. If you love to cook and entertain, or spend time in the kitchen, this is a real value to your family.
Building an addition or converting a garage/attic space into an extra room will add clear value to your home if you market it. But what utility does it have for you now? Could you use it as an office and stop making rent payments? Could you rent a spare room to one of your grown children? Does one of your aging family members need the comfort of being closer to the family? Whether or not you market the house for sale, this is a real value to you and your family.
Painting and landscaping projects are some of the best dollar spent for adding value to your home when selling. How would painting now help you? Paint will also preserve the wood and maintain it longer than if it is exposed, saving you thousands of possible dollars of future repairs. Landscape improvements could include a garden, or play area for pets or children. The extra time spent outside growing food and playing will provide you immediate benefits.
Selling a home that is maintained and updated has a lower degree of hassle. If a problem can arise during a transaction, it will arise at the least convenient time. Not only will you be too busy to deal with it, your budget will be strapped tight as a tick. Wouldn’t it be better to take on the issues now, before the house is on the market.
In the end, it is best to be prepared for the possible need or desire to sell your house. Making improvements now can make the process later much less stressful and financially feasible. Making improvements over time allows you to enjoy the upgrade as well as build equity into the value of your home.
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