Add value to your home and sell faster
Many people are choosing to boost the value of their home before selling it as this is a great way for the property to sell faster and fetch a good price. But during this process, it is important to strike a balance between making your property "stand-out" while also generating the highest possible return for your money. With this in mind, the general rule is to keep the costs of the upgrades at 10% of the property's market value.
Now that we clarified what your recommended costs should be, let's dive into the top 4 ways to add value to your home before reselling. And perhaps these upgrades may even want you to live in your home for a little longer, or make you change your mind about selling altogether.
1. Open-plan living: Since the early 1990s, homes with open-plan layouts have been a sought-after requirement for homebuyers who love spacious and airy living spaces. This trend is here to stay and it can be said to be the epitome of modern-day living. So if your home isn't already open-plan, chances are, you may find it hard to sell or you may have to settle for a lower than expected price. Creating a space like this means hiring a contractor to break down a few walls to merge two or more rooms together such as a lounge, dining room and kitchen. Once you transform your traditional layout into an open-plan one, you will see the value of your home increase significantly.
Looking for inspiration? Check out these homes situated in Boskruin and Randpark Ridge:
2. Kitchen: One of the quickest ways to see your home's value grow is to renovate the kitchen, which is considered by most, as the heart of the home. A newer and more modern one will help bring in big ROI's. Think new and quality appliances, an open-plan layout, decent fixtures, a new coat of paint, and enough storage space for groceries and appliances.
Tip: When it comes to working out the amount to spend on a kitchen facelift, the general rule of thumb is 2% of your property's current value.
Check out these kitchens that are sure to get any buyers attention:
3. Landscape: Homes with gardens are always hot property and rarely last too long on the market. The good news is, you can boost the value of your home almost instantly if you have a well taken care of garden that is presented immaculately. This adds loads of "kerb appeal" and creates a memorable first impression. And since Spring is around the corner, remember to mow your lawn and spruce up your garden with new plants and brightly coloured flowers.
Time to landscape? These gardens will help motivate you:
4. Entertainment area: If your home has an entertainment area, then chances are, many buyers will be eyeing it out as most people simply love to entertain. Homes with an outdoor patio, deck or balcony are major selling points. It becomes even more desirable if it is complete with a braai and pool area, hammock and good quality outdoor furniture. Building your own entertainment area doesn't have to be expensive and it can even be a DIY project - either way - having this feature will add great value to your home.
Entertaining is the name of the game in these homes:
Adding value to your home is a great way to make it sought-after in an already competitive residential market. If you're a seller in Randburg who is already selling a home that ticks all the right boxes, Lew Geffen Sotheby's International Realty Randburg can help you through this process. List with us today.
Author: Lew Geffen Sotheby's International Realty Randburg