The housing market never seems to be at its best, regardless of when you’ve decided it’s time for a change of scenery. Fluctuating supplies and demands are unreliable and unpredictable, making simply waiting for the right opportunity a waste of your time (not to mention money). Rather than put your life on hold to ensure you get a fair price on a property, take the reigns on the process: by including these four features — which work equally as well on flipped homes — you can boost your house value and make a good amount of extra money on the final sale.
- Add a patio: It’s no surprise that patios are one of the top three features requested by new homeowners; everybody wants a comfortable place out in, or on the very cusp of, nature where they can sit and relax, especially during the summer! They don’t need to be extravagant, like those classic Victorian homes that feature wrap-around porches; as long as you have enough yard space and can create some privacy (with peace and quiet being an added bonus), buyers and tenants will be able to see their future selves relaxing on it in the afternoon sun.
- Finish the basement: Full room additions are expensive and take a long time to construct, but utilizing the space you already have to increase your square footage is a great way to achieve the same end-goal without breaking the bank (or waiting months for construction to end). Finished basements are a little bit more nuanced in that they need to pass legal egress requirements for safety (like ensuring evacuation can be easily attained) but they literally make the home bigger, which definitely increases its value — plus, everyone has always wanted a game room in their basement.
- Upgrade your kitchen: The best part of this suggestion is that it does not need to be an entire remodel; a minor remodel (such as changing the tiles, counter-tops, or appliances) has an average return on investment of 82.7%! When people stop through on a viewing, they’ll see a kitchen that looks fresh and modern; they’ll instantly agree to pay more because it means they won’t have to worry about things like leaky faucets or yellowed floor tiles down the line.
- Create a neutral palette: Thanks to the booming popularity of the Home and Garden Network, consumers are more and more interested in themes and color palettes. In fact, more than one-third of respondents in an interior design trends survey said they prefer neutral color palettes, most likely due to the fact that they can match a wide array of styles and personalities easily. Modern, mature couples will see a chic space, while families will see colors that will mask some of the messes of life.
Don’t wait around for the housing market to meet your needs: create a home that people will be happy to pay extra for instead!