Many
homeowners have a plan to downsize when they grow older and don't
need as much space. Moving into independent housing is a fantastic
reason to sell a home, hopefully for more than the seller bought it
for years ago. Of course, you also want to maximize the amount you
sell the home for. Increasing the value of the home is a great place
to begin the journey.
These
tips will help you increase the value of your home before you move
into independent housing.
Do
Paint the Interior of the Home
One
way to maximize the value of your home is to spend money painting the
interior. If you want to invest your money in painting just a few
rooms, the kitchen is a good place to invest. Begin with a neutral
color scheme and try to use higher quality paints to assure the buyer
that the current look will be acceptable for years to come.
Don't
Install a Luxury Tub
Unless
your bathroom has a tub already, it may not be worth it to install a
brand new tub with jets. Tubs often go unused, even if they seem like
a fun idea at first. A walk-in shower may be more desirable for
buyers focused on the future.
Do
Invest in New Windows
Energy
efficient windows prevent the need for your buyers to worry about the
efficiency of the temperature inside the home. New windows prevent
drafts and also provide adequate insulation from the weather and
outside noises.
Don't
Install a Swimming Pool
While
some people look at a built-in swimming pool as an investment in the
home's value, your buyers might look at it as an expense. Swimming
pools cost money each month to maintain, and if you live somewhere a
pool is not easy to use throughout the year, you might actually turn
some of your potential offers away.
Do
Replace Appliances
Replacing
current appliances with new ones is a fantastic way to upgrade the
look of the home, especially the kitchen. Make sure that the new
appliances are energy efficient to entice buyers. In addition, keep
in mind that stainless steel appliances are sure to pique the
interest of buyers.
Don't
Assume a Yard Is Enough
Many
people assume that a buyer will be happy with simply having a
backyard. If you want to make your yard attractive to a buyer,
consider installing a deck or other unique feature outside. Buyers
like to envision themselves in the outdoor area, but they may be less
likely to buy your home if the backyard looks like a lot of work.
Do
Add Another Bathroom
If
your home only has one bathroom, adding another is a great way to
entice buyers. An additional bathroom is especially intriguing to
buyers who have several children.
Don't
Underestimate the Costs of Renovations
Renovations
cost more than many people initially believe they will. Many
homeowners who anticipate spending more than $10,000 renovating a
room could end up spending more than double this amount.
Instead
of renovating an entire room, consider finishing an attic or turning
a basement into a den rather than trying to create an entirely new
space. The difference in cost can be dramatic.
Do
Have a Plan in Mind
Finally,
ensure that you have a solid plan in order for after you sell your
home. Sellers who already have an independent living situation lined
up after the sell will likely be less stressed out and less tempted
to make impulsive decisions.
Robert
Cottingham Property Management Co
understands
the goal of downsizing or moving into independent housing. Call our
office today to discuss your goal for moving into independent living.
