This Is the Number One Way to Boost Your Home's Value, According to Experts
Let's face it! Being a homeowner puts you in a spot to grow your wealth with home equity. As of right now, home values are growing and growing, and there is no end in sight. There are many factors involved with home appreciation, such as: how many home buyers there are, how many homes are for sale, and the inflation rate. According to the National Association of Realtors, most buyers believe that they will live in their newly bought home for 15 years, but the median time happens to be only nine years for those who have recently sold their house. There is also the issue of whether the market is hot. Currently, it seems to be so — but whether you are ready or not to sell, here is the number one way to add value to your home regardless of the market's heat.
The Number 1 Way: Staging Your Home
Make your home attractive while not spending too much money. Although making your home beautiful sounds expensive, there are sure-fire ways to add beauty while not spending a lot. These include: renovating the living room and the kitchen. Now, we aren't talking about a major overhaul here— just your minor upgrades. Your average minor kitchen remodel is about $23,000, including updating appliances, cabinets, countertops, sinks, and flooring. Now, whether or not you see fit for remodeling, here are some facts. In 2019, stats showed that you might be able to recoup up to 97.5% of your job's cost. Now you may think that remodeling with these numbers, at best, gives you a loss on your spending, but this can save money in other areas, like getting your home sold faster. According to the National Association of Realtors, staging a home does not affect only 6% of buyers. This means that it is almost always beneficial to upgrade your home if the cost is right. The study also shows that it was easier for 83% of buyers to visualize the home as their own. Remodeling does help in your favor of negotiation of your home's sale.
Staging Your Home: Step #1
According to 95% of real estate agents, decluttering the house is the number 1 way to boost its value. Decluttering the house is a zero dollar investment. A great way to declutter is through minimalism. Minimalism is a movement in which you remove all that is unnecessary in your life — or in interior design, removing all that is unnecessary in your home. We have a fantastic guide on decluttering your house through the use of minimalism. Click here to learn more about how to make your home minimalist. Click here if you want some more reasons to go minimalist.
Staging Your Home: Step #2
After decluttering your home, cleaning your entire home is the next step. This means cleaning your floors, rugs, walls, tables, everything! This means cleaning the outside of your home as well. Power washing the exterior of your home can give the impression of a fresh coat of paint, increasing the curb appeal of your home. Removing pet fur and dander through tough cleaning will give your home a fresh take on your home. A secret of realtors is either bake some fresh cookies in the oven or to spray some fragrance in the air to give a wonderful smell to the home. The scent is an overlooked sense to appeal to, and one should pay attention to it. If you are looking for a way to clean rug or carpet stains, click here. If you are looking for a way to maintain laminate or LVT, click here.
Staging Your Home: Step #3
The next step is to remove your pets during showings. There are multiple reasons why you should do this. The first being that it does not help you sell your home. Having a pet in your home can only damage a home's value in the buyer's eyes. Generally, it would be best if you had a real estate agent showing your home with both you and your pets away. Keeping you and your pets away ensures that your real estate agent doesn't become easily distracted from doing what they are there to do, which is to sell your home. Keeping your pets away is also a great way to prevent them from accidentally getting out during the process. It is just as important, preventing them from harming a potential buyer or the real estate agent. Please don't keep them in the house during showings; it's not worth it.
Staging Your Home: Step #4
Having your carpet deep-cleaned is the next step you should take when staging your home. Of course, this is if you have carpet. If you don't, you can clean your laminate, LVT, tile, or natural stone in its place. Deep-cleaning your carpet is especially necessary if you own pets. You may have gotten used to your home's pet smell, but your buyers indeed haven't. This shouldn't cost too much for the average home, and it is not that hard either. You can rent the equipment and do it yourself to save some money. Removing stains can also be a great help to your home sale, as it can give the appearance of being brand new if cleaned properly and isn't too old. Sometimes, recarpeting may be worth the cost of ensuring a profitable home sale.
Staging Your Home: Step #5
Doing minor repairs to your home can be great for staging a home. You want your buyer to go into this process without worries that something may not work. If something is broken, even if it is easy to fix, it can significantly damage your home's reputation to the buyer. Also, these minor fixes are generally cheap. If there is a hole in your wall, spackle it and paint over it. Similar to a car, having a hole, dent or scratch can harm the value considerably. Different from a car, however, it is easy to fix a hole in your wall. Are you wondering how you can do this? Check out our tutorial here on how to fix a hole in the wall.
Staging Your Home: Step #6
After step number five, you should depersonalize your home. Having your photos on the wall makes it harder for the buyer to see the home as their own. When it is harder for the buyer to see the home as their own, they will most likely not buy it. Take away personal items like knick-knacks you got from other countries, remove photos of your family, basically remove anything that makes it look like it isn't highly adaptable.
Staging Your Home: Step #7
Painting your walls is what step seven is all about. Paint is cheap, but it can be quite a bit of work. The plus is that it is super easy to do! A bucket of paint can go a long way, and we recommend using brands with a good reputation like Sherwin-Williams, Benjamin Moore, and BEHR (which J.D. Power compiled rankings and all three got the same score for interior and exterior paint categories). If you want to know 2021 color trends according to all three companies, click here.
Staging Your Home: Step #8
Step eight is to take spectacular photos of your home. Your cell phone is going to be sub-par in this category, sadly. However, you don't need the best equipment available! You can rent a DSLR camera with 5 megapixels or more and do a great job with it. If you want our tips on taking a great photo of your home for selling purposes, check out our blog on how to shoot home photos like a pro here.
Staging Your Home: Step #9
This next step is a little more costly but can significantly improve your home's likelihood of being sold. Step 9 is to decorate your home. Decorating your home doesn't mean to clutter it either. Keep the minimalist mentality from step one so that you don't overspend, which can cause a dent in your wallet and create a home that could have been better with less in it. First, you have to know what style the room is. Don't know what style your home is? Take our quiz to figure out what style it is here. Once you do that, follow our blogs on designing your home for the perfect look according to that style. Below, we have 8 of the main styles listed. If you know your style, click on any of the below links:
Remember to apply a minimalist mindset when using the knowledge you learn from these style blogs, which will help ensure that you don't overspend and have a home that people will want to buy.
Staging Your Home: Step #10
Regrouting is our final tip for staging your home. Assuming you have tile that needs regrouting (whether it's old grout or just losing its original color), regrouting may be an option that can wow potential prospects. This step is done by first removing old grout, then mixing new grout, and applying it where it should be. Another option is using grout colorant, which can be applied on top of the grout. Grout colorant eliminates the need to regrout grout that is in good condition but needs a color touch up. You can find grout colorant here.